This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Excalibur Broadcasting Purchases Grand Junction, Colorado, Television Stations

GRAND JUNCTION, Colo., Aug. 2, 2013 /PRNewswire/ -- News-Press & Gazette Company ("NPGCo"), Gray Television, Inc. ("Gray") (NYSE: GTN and GTN.A), and Excalibur Broadcasting, LLC ("Excalibur") today jointly announced the sale of KJCT(TV) and associated low power television stations (collectively, the "Station") broadcasting ABC, CW, Telemundo, and local programming.

Subject to the consent of the Federal Communications Commission and other closing conditions, NPGCo will sell the licensed assets of the Station to a subsidiary of Excalibur for $3 million.  Subject to completing the sale of these licensed assets to Excalibur, Gray will provide back office, engineering, and sales support services to Excalibur. 

In a separate transaction that is also subject to the sale of the licensed assets of the Station to Excalibur, NPGCo will sell certain other assets of these television stations to Gray for $9 million.

These transactions are expected to close in the fourth quarter of 2013.

News-Press & Gazette Company

NPGCo is a privately held and family-owned company headquartered in St. Joseph, Missouri.  In addition to owning one of America's oldest newspapers, NPGCo operates television stations in 10 mid-western and western markets. 

Gray Television, Inc.

Gray is a television broadcast company headquartered in Atlanta, Georgia, that owns and operates television stations in 30 television markets broadcasting 46 channels affiliated with one of the "Big 4 Networks" (ABC, CBS, FOX and NBC) and 42 additional channels of programming.  Twenty-two of Gray's channels are affiliated with the CBS Network, eleven channels are affiliated with the NBC Network, eight channels are affiliated with the ABC Network and five channels are affiliated with the FOX Network.

Excalibur Broadcasting, LLC

Excalibur is a newly formed company and will purchase its first television station as a result of its transaction with NPGCo.  Excalibur is owned and operated by Don Ray, an industry leader. Mr. Ray recently retired from the positions of Regional Vice President of Gray (a position held since 2005) and General Manager of WSAZ-TV in Charleston/ Huntington, West Virginia (a position held since 1989). WSAZ-TV is owned and operated by Gray.

SOURCE Gray Television, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs