Gray Television, Inc. Completes Redemption of Its 9.25% Senior Subordinated Notes Due 2011
April 19 2007 - 11:15AM
PR Newswire (US)
ATLANTA, April 19 /PRNewswire-FirstCall/ -- Gray Television, Inc.
("Gray" or the "Company") (NYSE:GTNNYSE:andNYSE:GTN.a) today
announced that it had completed the redemption of all of its
outstanding 9.25% Senior Subordinated Notes due 2011 (the "9.25%
Notes") on April 18, 2007. The total principal amount of the 9.25%
Notes redeemed equaled $253,807,000. Gray funded the redemption of
the 9.25% Notes, including principal, redemption premium and
accrued interest, utilizing a delayed draw under the Company's
senior credit facility institutional term loan. The Company Gray
Television, Inc. is a television broadcast company headquartered in
Atlanta, GA. Gray currently operates 36 television stations serving
30 markets. Each of the stations are affiliated with either CBS (17
stations), NBC (10 stations), ABC (8 stations) or FOX (1 station).
In addition, Gray currently operates 39 digital second channels
including 1 ABC, 5 Fox, 8 CW and 16 MyNetworkTV affiliates plus 7
local news/weather channels and 2 "independent" channels in certain
of its existing markets. Gray intends to start one additional
digital local weather channel in one of its markets during 2007.
DATASOURCE: Gray Television, Inc. CONTACT: Bob Prather, President
and Chief Operating Officer, +1-404-266-8333; Jim Ryan, Senior V.
P. and Chief Financial Officer, +1-404-504-9828 Web site:
http://www.gray.tv/
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