Gray announces closing and upsizing of revolving credit facility refinancing and announces update on term loan and bmi sale proceeds

Atlanta, feb. 16, 2024 (globe newswire) -- gray television, inc. (“gray,” “we,” “us” or “our”) (nyse: gtn) announced today that it has closed a refinancing and upsizing of its revolving credit facility and has postponed its planned opportunistic refinancing of its $1.19 billion term loan due in 2026, due to recent market conditions. in addition, gray announced today that, on february 8, 2024, gray received approximately $110 million in pre-tax cash proceeds from the closing of the previously announced sale of broadcast music, inc. (“bmi”) to a shareholder group led by new mountain capital, llc.
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