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News Release

Barnes & Thornburg Represents Client in $442.5 Million Sale of TV, Radio Stations

September 21, 2015   |   Elkhart | South Bend

SOUTH BEND - Barnes & Thornburg assisted client Schurz Communications, Inc., in the sale of its television and radio station properties to Gray Television for approximately $442.5 million. Schurz will retain its ownership of its publishing companies, including the South Bend Tribune and four cable companies.

Barnes & Thornburg attorneys assisted as lead deal counsel on the various aspects of the sophisticated transaction. It is expected that the transaction will close in fourth quarter 2015 or first quarter 2016 following receipt of regulatory and other approvals. The sale involved television and radio stations operating in Alaska, Georgia, Indiana, Kansas, Missouri, South Dakota and Virginia.

Schurz Communications, Inc., is a Mishawaka, Indiana-based news and information company.

Gray is a public company based in Atlanta and traded on the New York Stock Exchange under the symbols GTN and GTN.A.

With more than 600 attorneys and other legal professionals, Barnes & Thornburg is one of the largest law firms in the country. The firm serves clients worldwide from 13 offices in Atlanta, Chicago, Dallas, Delaware, Indiana, Los Angeles, Michigan, Minneapolis, Ohio, and Washington, D.C. Visit us online at www.btlaw.com or on Twitter @BTLawNews.

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