ATLANTA, Aug. 11, 2011 /PRNewswire/ -- Gray Television,
Inc. ("Gray," "we," "us" or "our") (NYSE: GTN and GTN.A)
announced that on August 11, 2011 it
completed the repurchase of 32.56 shares of its Series D perpetual
preferred stock in a private transaction. These shares were
repurchased at their liquidation value of $100,000 per share, plus accrued dividends of
$1.5 million. The total cost of this
transaction of $4.8 million was
funded from cash balances on hand. After giving effect to this
transaction, 360.5 shares of our Series D perpetual preferred stock
remain outstanding.
Gray Television, Inc.
Gray Television, Inc. is a television broadcast company
headquartered in Atlanta, GA.
Gray currently operates 36 television stations serving 30
markets. We broadcast a primary channel from each of our
stations and also operate at least one digital second channel from
the majority of our stations. Each of our primary channels are
affiliated with either CBS (17 channels), NBC (10 channels), ABC (8
channels) or FOX (1 channel). In addition, we currently
operate 40 digital second channels that are affiliated with either
ABC (1 channel), FOX (4 channels), CW (8 channels), MyNetworkTV (18
channels), Universal Sports Network (2 channels) and The Country
Network (1 channel) or are operated as local news/weather channels
(6 channels).
www.gray.tv
SOURCE Gray Television, Inc.