Akin Gump Counsels Hoak Media and Parker Broadcasting in TV Station Sales to Gray Television, Nexstar Broadcasting
(Washington, D.C.) – An Akin Gump cross-practice team advised Hoak Media, LLC in its sale of 12 television stations to Gray Television, Inc. and five television stations to Nexstar Broadcasting Group for a total purchase price of approximately $335 million. The same cross-practice team advised Parker Broadcasting, Inc. in a related transaction involving the sale of three television stations in North Dakota, Louisiana, and Colorado for $10.7 million. The Parker transaction is expected to close later in the year.
The stations acquired by Gray were ABC, NBC, CBS and FOX affiliates in South Dakota, North Dakota, Nebraska and Louisiana, while the stations acquired by Nexstar were ABC and CBS affiliates in Florida and Colorado.
The deal team drew on a number of Akin Gump’s practices and offices and comprised corporate partner Russ Parks, senior counsel Erica McGrady and associate Lauren Wynns; tax partner Howard Jacobson; antitrust and unfair competition practice head Paul Hewitt; and communications and information technology practice head Tom Davidson, senior attorney Karen Milne and associates Lyndsey Grunewald and Steve Rowings.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 850 attorneys in offices throughout the United States, Europe, Asia and the Middle East.
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