Just days ago, media giant and USA Today publisher Gannett Co (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 (GTN).
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:
GTN is a pure play on local TV stations. GTN is focused on small markets. Of particular interest is GTN's exposure...
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