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 Brad Moses as the new General Manager of WTVG-TV (ABC) in Toledo, effective July 25th. Brad, a Toledo native, brings over 30 years of television experience, having previously worked at WTVG from 1994 to 2000. His most recent role was as General Manager of KWCH (CBS) and KSCW (CW) in Wichita, where he significantly expanded local news programming and won several prestigious awards. He succeeds Chris Fedele, who is now the GM of Gray's WPTA-TV and WISE-TV in Ft. Wayne, Indiana.
Gray Television, Inc. (NYSE: GTN) appointed Chris Fedele as the new General Manager of WPTA-TV and WISE-TV in Ft. Wayne, Indiana, effective June 1, 2022. Fedele, a Northeast Indiana native, returns to WPTA-TV after a notable career, including previous roles as General Sales Manager and a decade as Director of Sales and Marketing for WLEX-TV in Kentucky. Gray Television is the largest owner of local television stations in the U.S., operating in 113 markets and covering approximately 36% of U.S. households.
Gray Television has announced a long-term agreement with NBCUniversal to lease and operate new production facilities at the Assembly Atlanta development in Georgia. The state-of-the-art studios are expected to create over 4,000 jobs in the local area, supporting both construction and production activities. The facility will feature multiple soundstages and production spaces, with construction projected to be completed by late 2023. The capital expenditure for this project is estimated between $130 million and $140 million for 2022.
Gray Television (NYSE: GTN) announced that its local stations received a record 69 regional Edward R. Murrow awards from the Radio Television Digital News Association. Notable winners included WVUE in New Orleans, securing 11 awards, and WMTV in Madison, with 7 awards. Four stations achieved Overall Excellence, and WVUE dominated with five Investigative awards. Gray’s chairman expressed pride in the recognition for excellence across diverse markets. The winners will advance to the national competition, with results to be announced later this year.
On May 26, 2022, InvestigateTV, owned by Gray Television (NYSE: GTN), announced the addition of two esteemed investigative reporters: Joce Sterman and Caresse Jackman. Sterman, an Emmy and Murrow award winner with over 20 years of experience, previously served as the lead National Investigative Correspondent for Spotlight on America. Jackman has been recognized for her reporting excellence at WSMV4, covering significant events such as Hurricane Katrina and the Flint Water Crisis. This expansion aims to enhance community-focused investigative journalism.
Gray Television has appointed Ron Bartholomew as the new General Manager of WNDU, the NBC affiliate in South Bend, Indiana, effective June 6. Bartholomew brings over 20 years of experience in media and sales, including leadership roles at CBS stations in New Orleans and Tampa Bay, and has been the director of sales at WMC Television in Memphis for the past three years. He succeeds John O’Brien, who moved to manage WAVE3 in Louisville. Gray Television is the largest owner of local TV stations in the U.S., reaching approximately 36% of U.S. households.
Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for its common and Class A common stock. This dividend will be payable on June 30, 2022, to shareholders on record as of June 15, 2022. As the largest owner of local television stations in the U.S., Gray reaches approximately 36% of television households through its extensive portfolio of over 113 stations across 80 markets with top-rated programming.
Gray Television, Inc. (GTN) reported strong Q1 2022 results with total revenues of $827 million, a 52% increase from Q1 2021. Core advertising revenue rose 40%, retransmission consent revenue increased 59%, and political advertising surged 189%. Net income rose 88% to $49 million or $0.52 per share. Broadcast Cash Flow increased 61% to $271 million. Despite Transaction Related Expenses of $8 million, adjusted EBITDA also climbed 64% to $251 million. The company anticipates continued revenue growth in Q2 2022, projecting total revenue between $846 million to $864 million.
Gray Television has secured a new agreement with Telemundo Network Group, extending affiliations across 12 existing markets and enabling launches in 22 new markets. This move will enhance Gray's operations to provide Telemundo programming to a total of 34 markets with over 3.75 million Hispanic viewers. Notably, the new 'Telemundo Georgia' network will serve several cities in Georgia, prioritizing local content and news aimed at underserved Hispanic communities. The strategic expansion aligns with significant Hispanic growth in the Southern U.S. over the past decade.
Gray Television has received the First Place National Headliner Award for its investigative report, Collision Division, which highlights federal crash standards that favor men over women. The investigation showed that only one out of three main safety tests incorporates female crash test dummies, despite the higher risk of injury for women. This report prompted lawmakers to act, leading to a congressional provision for a thorough investigation of crash-testing protocols. Gray Television's commitment to impactful journalism continues to drive change in safety regulations.
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