Gray Ups Meredith Deal After Competing Bid

Gray Television increased its offer for Meredith’s TV stations to $2.83 billion after an unsolicited bid, said both broadcasters Thursday. Gray’s original offer was $2.7 billion. Gray’s amended offer also includes an increased termination fee, it said. “Meredith's Board of Directors gave due consideration to both proposals and carefully assessed the risks and benefits of each and unanimously approved the revised Gray proposal,” said Meredith. The deal is still expected to close in Q4. Regulatory approval is expected (see 2105030056).