The deal is now fully closed, removing execution risk. Monitor Gray's next quarterly filing for the financial impact of the acquired stations on revenue and operating cash flow. The $171M price is modest relative to Gray's ~$580M market cap, so near-term stock impact is likely limited.
Price Chart
Executive Summary
Gray Media closed two previously announced transactions with Allen Media Group for a total purchase price of $171 million plus working capital adjustments. The deal adds stations in three new markets and seven overlap markets, expanding Gray's reach to 117 markets covering ~37% of US TV households.
Key Financial Metrics
Key Facts
- Total purchase price of $171 million plus working capital adjustments
- Acquired stations in three new markets (closed March 26, 2026) and seven overlap markets (closed today)
- Gray now serves 117 full-power television markets reaching ~37% of US TV households
- Portfolio includes 80 markets with top-rated station and 100 markets with #1 or #2 rated station in all-day ratings (Nielsen 2025)
Financial Impact
$171 million total purchase price plus working capital adjustments
Risk Factors
- Integration costs and working capital adjustments could exceed expectations
- Debt load may increase to fund the acquisition
- Advertising market headwinds could offset benefits of expanded footprint
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3286279 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | $4.55 | awaiting T+5 | — | $4.37 (−3.85%) |
Oct 20, 2026 6d ago | Press Release | $4.63 | awaiting T+5 | — | $4.37 (−5.62%) |
Oct 15, 2026 11d ago | Press Release | $4.46 $4.70 | ▲ +5.38% | ▲ +6.40% | $4.37 (−2.02%) |
Oct 9, 2026 17d ago | 8-K | $4.43 $4.48 | ▲ +1.13% | ▲ +2.62% | $4.37 (−1.35%) |
Oct 9, 2026 17d ago | 8-K | $4.54 $4.38 | ▼ −3.52% | ▼ −1.56% | $4.37 (−3.74%) |
Oct 2, 2026 24d ago | Press Release | $4.54 $4.54 | · 0.00% | ▼ −1.16% | $4.37 (−3.74%) |
Sep 28, 2026 28d ago | 8-K | $4.59 $4.63 | ▲ +0.87% | ▼ −0.33% | $4.37 (−4.79%) |
Sep 28, 2026 28d ago | Press Release | $4.59 $4.63 | ▲ +0.87% | ▼ −0.33% | $4.37 (−4.79%) |
Sep 28, 2026 28d ago | Press Release | $4.59 $4.63 | ▲ +0.87% | ▼ −0.33% | $4.37 (−4.79%) |
Sep 23, 2026 4w ago | Press Release | $4.58 $4.50 | ▼ −1.75% | ▼ −1.07% | $4.37 (−4.59%) |
US Market Status
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