Gray television, inc. (nyse:gtn) completed the acquisition of kdlt tv from red river broadcasting.

Gray television, inc. (nyse:gtn) signed an agreement to acquire kdlt tv from red river broadcasting for $32.5 million on may 1, 2018. under the terms of agreement, $32.5 million will be paid in cash and will be financed through cash in hand. pursuant to the acquisition, both stations are expected to retain their individual identities. the transaction is subject to regulatory and other approvals. as of july 11, 2019, department of justice has approve the transaction. the transaction is expected to close in second or third quarter of 2018. the transaction will be free cash flow accretive. kalil & co., inc. acted as financial advisor to red river broadcasting. as per the announcement on may 8, 2019, the transaction is expected to close in the second or third quarter of 2019. gray television, inc. (nyse:gtn) completed the acquisition of kdlt tv from red river broadcasting in late september 2019.
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