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,...
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