Sammy Pollack
Long/short equity, contrarian, research analyst, portfolio strategy

Gray Television: A Takeover Candidate

Just days ago, media giant and USA Today publisher Gannett Co (NYSE:GCI) agreed to purchase Belo Corp for $13.75 per share or $1.5 billion in cash. Gannett also agreed to assume $700 million in debt from Belo. Investors who missed out on this deal should consider Gray Television Inc (NYSE:GTN).

GTN data by YCharts

As shown by the chart above, despite trading in the single digits, GTN shares have moved sharply higher in 2013 and are trading at a five-year high.

Gray Television Overview

From a recent presentation:

(click to enlarge)

GTN is a pure play on local TV stations. GTN is focused on small markets. Of particular interest is GTN's exposure to collegiate markets,...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details