Gray Television, expanding its production capabilities, said it purchased Third Rail Studios in Doraville, Georgia, from The Integral Group for $27.5 million.
Third Rail is located adjacent to Gray’s studio and community development called the Assembly, which is currently under construction at a site once occupied by a General Motors assembly plant. Gray plans to integrate Third Rail’s studio into the larger production facility, located just outside Atlanta.
“Third Rail Studios is a pioneer in bringing film and television production to the Atlanta community, and we are excited to join forces to create an entire studio city to serve Georgia’s booming media industry. We are thankful for all of the work already completed at Assembly and proud to usher in the next chapter for the historical site,” said Gray CEO Hilton H. Howell.
Third Rail opened in 2016. Its stages, support spaces and production offices will serve as an anchor for Assembly, which will feature multiple studios. Third Rail has been used by Netflix to produce programming including Ozark. It has also been used in the production of films including Rampage and the Ballad of Richard Jewell. Apple recently leased space at Third Rail for production activity. Swirl Films, controlled by Gray Television, will occupy one of the stages at Assembly.
Gray intends for Assembly to be an Atlanta-area attraction, with an entertainment area in addition to its production facilities.
“Our commitment remains to drive regional economic development for decades to come. Today’s transaction ensures the continuation of the original vision,” said Egbert Perry, CEO of The Integral Group. “As we close out our role at Third Rail Studios, we leave the future of the entire Assembly project, now augmented with Third Rail Studios, in the capable hands of Gray.”
In addition to being one of the largest owners of local broadcast stations Gray owns Raycom Sports, Tupelo-Raycom and RTM Studios. It also launched Circle Network with Opry Entertainment.
Jon has been business editor of Broadcasting + Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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