Washington, DC – June 15, 2016 – Cooley is advising Atlanta, Georgia-based television broadcast company Gray Television on a series of proposed acquisitions. Gray owns and operates television stations and leading digital assets in markets throughout the United States.
Gray has entered into an agreement to acquire WBAY and KWQC for $270 million. Nexstar Broadcasting Group is divesting these stations ahead of its merger with Media General. The acquisition will close concurrently with the closing of the Nexstar/Media General merger, which the parties anticipate will occur in Q4 2016. The team advising Gray on the acquisitions of WBAY and KWQC includes Kevin Mills, Maureen Nagle, Shaked Hoter, John Feore, Parker Erkmann, Jack Lavoie and Michelle Schulman.
In a separate transaction, Gray has entered into an agreement to acquire two stations – WDTV and WVFX – in Clarksburg, West Virginia, for $26.5 million. The team advising Gray on the acquisitions of WDTV and WVFX includes Maureen Nagle, Alex Weaver, John Feore, Jason Rademacher and Jack Lavoie.
In 2015, Cooley also advised Gray on its acquisition of Schurz Communications’ TV and radio stations for approximately $425.5 million.
Cooley is a leader in the broadcasting industry. The firm represents approximately 300 commercial television stations — the majority of which are major network affiliates — and more than 250 commercial radio stations.
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