Back to TVNewsCheck Home Print this page

Gray Announces Proposed Stock Offering

Gray Television on Monday said it has underwritten a public offering  of 15 million shares of common stock. In addition, Gray said it expects to grant the underwriters an option for 30 days to purchase up to an additional 2.25 million shares. It said it expects to use the money raised to purchase additional shares for general corporate purposes.

By Staff | November 27, 2017 | 4:25 p.m. ET.
Tags: ,

Comments (7)

Leave a Reply

Cheryl Thorne says:

November 27, 2017 at 8:35 pm

Stock is overvalued by at least 20%……General Corporate purposes???.Does Thurston need a Bonus??

Andrea Rader says:

November 27, 2017 at 8:44 pm

Generally speaking general corporate purposes means future acquisitions or paying down debt.

Cheryl Thorne says:

November 28, 2017 at 8:21 am

They better pay down debt because they paid way too much for recent acquisitions

Snead Hearn says:

November 28, 2017 at 2:41 pm

Pay down debt!!! However most of these borderline broadcast groups are looking for some fallout if Sinclair deal is approved and they may look at trying to pick off a station or two…. Smart to just pay down debt…..

Cheryl Thorne says:

November 28, 2017 at 5:20 pm

Gray does not have the brain power to run any large markets that may not clear the Sinclair Tribune fallout!!!! They are a middle market at best Broadcast group!!Mediocre at that as well!!

Cheryl Thorne says:

November 28, 2017 at 5:20 pm

Gray is where the C students go to die!!

Andrea Rader says:

November 29, 2017 at 1:31 am

There will be plenty of quality middle market stations up for grabs if the Sinclair-Tribune merger go through.