Welcome to our dedicated page for Gray Television news (Ticker: GTN-A), a resource for investors and traders seeking the latest updates and insights on Gray Television stock.
Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. Gray is the nation’s largest owner of top-rated local television stations and digital assets. Its television stations serve 114 television markets that collectively reach approximately 36 percent of US television households. Gray also owns video program companies like Raycom Sports, Tupelo Media Group, and PowerNation Studios. They have recently expanded their sports broadcasting to include American Association of Professional Baseball games, enhancing their local sports network offerings.
Furthermore, Gray Television has announced an agreement to increase its revolving credit facility, reflecting strong support from banking partners. The company's commitment to growth and financial stability positions them as a key player in the multimedia industry.
Gray Television, Inc. (NYSE: GTN) has appointed Micheal Smith as the Station Manager for its independent station PeachtreeTV (WPCH-TV) in Atlanta. With over 25 years in broadcasting, Smith previously served as the marketing manager for WGCL CBS 46 and PeachtreeTV. His extensive experience in the Atlanta market is expected to enhance local programming. Erik Schrader, General Manager, expressed confidence in Smith’s ability to elevate PeachtreeTV and is enthusiastic about the new programming direction.
Gray Television has promoted Patience Hettrick to Station Manager of WGGB-TV ABC 40 and WSHM-LD CBS 3 in Springfield, Massachusetts, effective immediately. She has served as news director for both stations since March 2015 and retains that role in her new position. Hettrick has a significant background in broadcast news, having previously worked at WFSB CBS 3 in Hartford, Connecticut. She also teaches at Middlesex Community College and holds a Master’s degree in education from the University of Hartford.
Gray Television has signed an agreement to acquire WKTB-CD from Capital Media Group, enhancing its presence in Atlanta’s competitive media landscape. The acquisition includes Surge Digital Media, known for multicultural marketing. Gray now boasts a reach of over one million viewers, targeting the fastest-growing minority groups in the area. With this deal, Gray strengthens its position in the sixth largest U.S. television market and will own Telemundo affiliates in 12 markets. The transaction is expected to close after receiving necessary approvals.
Gray Television (NYSE: GTN) will release its earnings results for Q4 2021 on February 25, 2022. The conference call will begin at 11:00 a.m. ET to discuss the operating results. Interested parties can join the call at 1-855-493-3489 and access a live webcast at www.gray.tv. Gray is the second largest TV broadcaster in the U.S., reaching approximately 36% of U.S. television households, and operates numerous high-rated television stations across 113 markets.
Gray Television, Inc. (NYSE: GTN) has appointed Stephanie Hedrick as the new General Manager of KTTC in Rochester, Minnesota, effective January 10, 2022. Hedrick, who started her career at KWTX in Texas, previously served as news director at KWQC in Iowa, where she significantly increased market share. Her predecessor, Bryce Caldwell, moved to WHNS in South Carolina following Gray's acquisition of Meredith Corporation. Gray Television is a leading owner of local TV stations and digital assets across the U.S.
Gray Television (GTN) has appointed Michael Hornfeck as General Manager of KOLD (CBS) in Tucson, Arizona, succeeding Eric Duncan. Hornfeck brings nearly 40 years of local media experience, having previously served as national sales manager at KVOA and held various management roles there since 2005. His strong ties to the Tucson community and in-depth knowledge of the advertising market position him well to lead KOLD moving forward.
Gray Television announces a two-year deal with legendary Atlanta anchor Monica Kaufman Pearson to host programs on CBS46/WGCL-TV and Peachtree TV/WPCH-TV starting February 2022. Pearson, a pioneer in journalism, is set to launch an interview-themed series, enhancing local programming aimed at deeper viewer engagement. Gray Television, which recently acquired CBS46 and Peachtree TV, aims to enrich its content offerings. With numerous accolades, Pearson is expected to significantly impact the stations' programming strategy.
Gray Television (GTN) has expanded its National Investigative Team, InvestigateTV, enhancing its commitment to investigative journalism. Lee Zurik has been promoted to Vice President of Investigations, while Jamie Grey and Greg Phillips have also received promotions within the team. New hire Daniela Molina joins as an Investigative Producer. The team plans to add more members in 2022, building on successful investigations that highlighted key issues such as government oversight and healthcare disparities. The InvestigateTV show, launched earlier this year, reached an average of 850,000 viewers per episode.
Gray Television has successfully completed the acquisition of Meredith Corporation's Local Media Group, totaling $2.8 billion, or $16.99 per share. This addition strengthens Gray's status as the second largest television broadcaster in the U.S., with anticipated annual revenues of over $3.2 billion. The deal is expected to boost free cash flow per share by 50% for 2021/22, while also leading to updated revenue guidance of $655-$665 million and operating expenses of $457-$466 million for Q4 2021. Gray aims to leverage this acquisition to enhance its market presence.
Origin Sports Network has expanded its distribution, now available on Samsung TV Plus and The Roku Channel, increasing its audience significantly. The channel features diverse sports content, including original programming like The Rise and Origin Sports Portraits, showcasing athletes from various eras. Upcoming themed programming includes Heisman Week and Bowl Week, featuring legendary performances. Chad Swofford from Raycom Sports expressed excitement about the network's growth and audience engagement.
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