ATLANTA, Ga.—Gray Television, Inc. has purchased Third Rail Studios in Doraville, Georgia, from The Integral Group for $27.5 million.
Third Rail Studios, a movie and television production facility developed by The Integral Group in 2016, is located adjacent to Gray’s entertainment-centric studio and community development called Assembly.
Assembly is currently under construction at the former site of the General Motors Assembly Plant, which is conveniently located inside the I-285 perimeter. Integral purchased the property in 2014 and master developed the site before selling to Gray in March 2021.
Third Rail Studios will be integrated into the studio operations at Assembly.
Since it opened its doors in 2016, Third Rail Studios has attracted top-notch clients, including feature length programs for Netflix and other movies. Recently, Apple leased a significant amount of space within Third Rail Studios to help fulfill its production needs.
“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,” said Hilton H. Howell, chairman of the Board and CEO of Gray Television. “We are thankful for all of the work already completed at Assembly and proud to usher in the next chapter for the historical site.”
Development plans for Assembly include studio space, mixed-use development, as well as entertainment areas. The first phase is expected to be finished by fall 2022.
“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.”
Gray Television, which will be the second largest broadcaster in the U.S. after it completes its acquisition of the Meredith stations, purchased the 127 acre Assembly site in March 2021.
The company is also a majority investor in Atlanta-based Swirl Films, which will occupy one of the stages on the property.
Gray also owns video production companies Raycom Sports, Tupelo-Raycom, and RTM Studios, the producer of PowerNation programs and content, and launched Circle Network with Opry Entertainment in January 2020.
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