 ATLANTA, June 03, 2021 GLOBE NEWSWIRE -- Gray Television, Inc. Gray NYSE: GTN today confirmed that Meredith Corporation Meredith recently informed Gray that, after announcing the definitive agreement with Gray, it had received an unsolicited proposal to acquire its Local Media Group LMG division, including all of Merediths broadcast television stations, from another party. Gray subsequently offered to amend the parties Merger Agreement to increase the total consideration payable by Gray from approximately 14.50 per share in cash, or 2.7 billion in total enterprise value after the spin off of Merediths National Media Group to the current Meredith shareholders, to 16.99 per share in cash, or 2.825 billion in total enterprise value; to increase certain fees due to the other party under certain termination events under the Merger Agreement; and to make certain other revisions. On June 2, 2021, Gray and Meredith entered into an amendment to reflect the revised terms. 