Gray Media and Byron Allen’s Allen Media Group Closed Station Transactions
Gray Media (NYSE: GTN) and Allen Media Group closed two previously announced station transactions for a combined purchase price of $171 million plus working capital adjustments.
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Rhea-AI Summary
Gray Media (NYSE: GTN) and Allen Media Group closed two previously announced station transactions for a combined purchase price of $171 million plus working capital adjustments.
Gray acquired stations in three new markets for Gray on March 26, 2026 and acquired stations in seven overlap markets on May 1, 2026.
Positive
- Closed transactions for a combined purchase price of $171 million
- Three new markets added to Gray's station portfolio on March 26, 2026
- Seven overlap markets acquired on May 1, 2026
Negative
- Final consideration is subject to working capital adjustments
Details
News Market Reaction – GTN
On May 4, the first trading day after this news, GTN closed 2.12% below the previous close.
Data tracked by StockTitan Argus for the May 4 session.
Key Figures
- Purchase price
- $171 million
- Total purchase price for closed station transactions plus working capital adjustments
- Markets served
- 117 full-power markets
- Gray Media local television markets served across the U.S.
- US TV household reach
- Approximately 37%
- Share of US television households reached by Gray Media stations
- Top-rated station markets
- 80 markets
- Markets where Gray owns the top-rated television station
- Top 1st/2nd rated markets
- 100 markets
- Markets with first and/or second highest rated station in 2025 Nielsen data
- Telemundo affiliate markets
- 47 markets
- Largest Telemundo affiliate group owned by Gray Media
- Allen affiliate stations
- 28 stations
- ABC-NBC-CBS-FOX network affiliate stations owned/operated by Allen Media Group
- Content library size
- Over 7,000 hours
- Owned video content library across multiple genres at Allen Media Group
Historical Context
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AI-powered streaming rollout across 113 legacy TV markets and channels.
-
Named new General Manager for WTHI, adding experienced local leadership.
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Announced timing and access details for upcoming Q1 earnings release and call.
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Multi-year Braves simulcast agreement across 24 markets in six states.
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Planned simulcast of Braves 2026 home opener on BravesVision and Gray stations.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
avod technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATLANTA, May 01, 2026 (GLOBE NEWSWIRE) -- Gray Media, Inc. and Byron Allen’s Allen Media Group, Inc. announced today that the parties have closed on both of their previously announced transactions for a total purchase price of
About Gray Media:
Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets serving 117 full-power television markets that collectively reach approximately
About Allen Media Group:
Chairman and CEO Byron Allen founded Allen Media Group in 1993. Headquartered in Los Angeles, it has offices in New York and Atlanta. Allen Media Group owns/operates 28 ABC-NBC-CBS-FOX network affiliate broadcast television stations in 21 U.S. markets and ten 24-hour HD television networks serving nearly 300 million subscribers: THE WEATHER CHANNEL, PETS.TV, COMEDY.TV, RECIPE.TV, CARS.TV, ES.TV, MYDESTINATION.TV, JUSTICECENTRAL.TV, THEGRIO TELEVISION NETWORK, and HBCU GO. Allen Media Group also owns the digital streaming platforms HBCU GO, SPORTS.TV, THEGRIO, THE WEATHER CHANNEL STREAMING APP, and LOCAL NOW--the free-streaming AVOD service, which delivers real-time, hyper-local news, weather, traffic, sports, and lifestyle information. Allen Media Group also produces, distributes, and sells advertising for 74 television programs, making it one of the largest independent producers/distributors of first-run syndicated television programming for broadcast television stations. With a library of over 7,000 hours of owned content across multiple genres, Allen Media Group provides video content to broadcast television stations, cable television networks, mobile devices, and multimedia digital. Allen Media Group’s mission is to provide excellent content to its viewers, global platforms, and Fortune 500 advertising partners. For more information, visit: www.allenmedia.tv
Gray Contact:
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333
Allen Media Group Contact:
Eric Peterkofsky, Executive Vice President, Talent & Public Relations, 310-277-3500
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