Television

Atlanta based Gray Television to acquire ABC affiliate for $100 million

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/09/02/tv-english-entertainment.jpg?itok=rsuApuDH

MUMBAI: Gray Television, Inc has reached an agreement with The Gazette Company to acquire KCRG-TV, the ABC affiliate for the Cedar Rapids, Iowa, DMA for approximately $100 million in cash. This acquisition marks Gray's first purchase of a television station located in the State of Iowa.

 

Consistent with Gray's other recently acquired television stations, KCRG-TV is the number-one ranked television station in its DMA and dominates its local market in terms of community service, viewership, innovation, and revenue.

 

“The Gazette Company has honored Gray Television by entrusting us with the future stewardship of KCRG-TV, which it has built into a true powerhouse. With this very strong foundation and a great staff, we are confident that Gray's backing will propel KCRG-TV to even greater success in the future,” said Gray president and CEO Hilton H. Howell, Jr.

 

The Gazette Company president and CEO Chuck Peters added, “The Gazette Company, owned by a trust for the benefit of its employees, is focused on growing businesses and growing people. We realised that we have done all we can do as a single television station with the business and for the people of KCRG TV9. We look forward to seeing what the very talented KCRG TV9 team can do with the scale and connections of Gray Television.”

Since The Gazette Company, which also owns The Cedar Rapids Gazette, first placed KCRG-TV on the air in 1953, the newspaper and television station have worked together to bring quality journalism, economic development, community service, and business solutions to Eastern Iowa.

 

The Gazette Company and Gray will continue the long-standing partnership between The Gazette and KCRG-TV. Meanwhile, this transaction will allow both companies to continue positioning these leading media institutions for continued growth over the next several decades.

 

Gray today closed on its purchase of most of KCRG-TV's non-license assets and began operating the television station subject to the licensee's ultimate control. The company anticipates closing on the station's remaining assets in the fourth quarter of 2015 following receipt of FCC and other approvals. 

 

Including expected synergies, the transaction purchase price represents a multiple of approximately 6.9 times a blended average of the station's 2015-2016 pro forma broadcast cash flow. As such, the acquisition of KCRG-TV will be immediately free cash flow accretive to Gray. We financed the transaction with cash on hand.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/19/Deepak-Rajadhyaksha.jpg?itok=64BctKo6
Zee TV to launch the third season of 'India's Best Dramebaaz'

MUMBAI: Locked in a see-saw battle with Colors for top billing in the Hindi GEC space, Zee TV has made its latest move. Puneet Goenka-led channel's latest offering to the Indian audiences is season three of 'India's Best Dramebaaz'. Having enjoyed a successful run during the first two seasons, the...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/india.jpg?itok=v7SMB1PQ
Sony to soon launch Indian Idol season 10

MUMBAI: Indian Idol, one of Sony’s most acclaimed reality shows, is all set to come back on small screen with its tenth installment. Considering that all its previous seasons have done exceedingly well, there are great expectations this year as well. Sony has released its first promo, captioned #...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/ipl.jpg?itok=G15HVAwJ
VIVO IPL: VIVO IPL on Star Sports register highest ever engagement

Revolutionizing the way, the world experiences VIVO IPL, Star India reimagined VIVO IPL in to a six-month fiesta instead of just a two-month tournament. Keeping fans at the heart of the experience, Star India used the confluence of technology, consumer insight, and experience in cricket coverage,...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/abhishek.jpg?itok=KDMML6C5
Abhishek Upadhyay joins &TV as marketing head

Abhishek Upadhyay, who headed marketing for OLX, has been appointed marketing head of &TV, the Hindi language GEC channel of Zee Entertainment Enterprise Limited (ZEEL).

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/saral.jpg?itok=k0DYsipd
Saral Jeevan adds three new programs to its prime time offering

Saral Jeevan, a Kannada infotainment channel, is launching three shows today. While one of them is season two of Jnanapada (based on folk songs), the other two programs are based on factual content. With a focus on non- fiction programming like history, mythology, travel and insights from Indian...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/discovery.jpg?itok=UmdA492J
Discovery joins hands with BYJU’S for quiz show

Discovery Communications India and BYJU’S, the Learning App, has joined hands to launch a school quiz show called the Discovery School Super League.

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/john.jpg?itok=M2fDq-bg
Time Warner to be renamed Warner Media, Turner CEO exits

AT&T announced on Friday, its first full day of owning Time Warner, that the operating businesses in the $85 billion acquisition will be contained in an entity called WarnerMedia. The names of the operating units - HBO, CNN, Warner Bros., TNT, etc. - will stay the same.

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/mallika.jpg?itok=Ld06iORE
This special musical video follows Bani J tirade against trolls as a part of ‘Trolled’ series on RISE by TLC

After a power packed punch by Bani J to the misogynistic trollers, comedy sensation Mallika Dua is all set to fire back with her quirks and wits and show the internet hate its place. This will be the second short format music video under the ‘TROLLED’ series and will premiere on Rise by TLC, a...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/06/18/partho.jpg?itok=P31SA2Dp
Sports dominated OOH viewership in April-May: BARC

Contributing more than half of the total TV viewership during the April-May period, the sports genre topped charts in Broadcast Audience Research Council (BARC) India's Out of Home (OOH) measurement report. Sports accounted for 70 per cent of viewership, while movies and music enjoyed 10 per cent...

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories