Gray Television completes $1.3 billion private offering of Senior Notes

Client(s) Gray Television, Inc.

Jones Day represented Gray Television, Inc. (“Gray”), a television broadcast company headquartered in Atlanta, Georgia that owns and/or operates television stations and leading digital properties in 113 television markets that collectively reach approximately 36% of U.S. television households, in connection with its private offering of $1.3 billion aggregate principal amount of 5.375% Senior Notes due 2031. The offering represents an upsize of $175 million over the amount initially offered. The proceeds of the notes offering were used to finance, together with cash on hand and borrowings under Gray’s senior credit facility, Gray’s merger with Meredith Corporation (“Meredith”), pursuant to which Gray acquired Meredith’s local media group, immediately after Meredith’s spin-off of its national media group to the Meredith shareholders.