Gray Media to Buy TV Stations From Allen Media Group for $171m

Gray Media to buy television stations in 10 markets from Allen Media Groupfor $171 million.

• Deal to bring Gray into three new markets: Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana
  • Sees deal strengthening the company’s presence in the seven other markets by creating new duopolies allowing Gray to expand local news, weather and sports programming
• Deal seen closing in 4Q following receipt of regulatory approval
• Moelis & Co. acted as financial adviser to AMG

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Guillermo Molero in New York at gmolero@bloomberg.net ...