Bill Fanning on Gray-Hoak deal


Bill-FanningGray Television completed its buy of 12 stations and programming of three additional television stations from Hoak Media and Parker Broadcasting. When announcing the Hoak acquisition last year, Gray said Excalibur Broadcasting would acquire five stations in existing or future Gray markets from Hoak, Parker, and Prime Cities Broadcasting, and that Gray would operate these stations through shared services agreements. However, as a result of new FCC policies, Excalibur and its counter-parties have abandoned those transactions and Gray secured some very smart alternative deals with Hoak, Parker, and Prime Cities. Bill Fanning, CFA, Managing Director, Media Venture Partners, gave RBR-TVBR his take:

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