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 (GTN) has been recognized as five of its stations were selected as finalists for the Service to America Awards by the National Association of Broadcasters Leadership Foundation.
The awards celebrate community service by local broadcasters, with winners announced at a gala on June 7, 2022. Notably, all finalists in the Medium Market category are Gray Television stations, showcasing its leadership in quality journalism and commitment to improving local communities.
Gray Television has appointed John O’Brien as the new General Manager of WAVE3, the NBC affiliate in Louisville, Kentucky, effective April 25, 2022. O’Brien previously served as General Manager at Gray's WNDU in South Bend, Indiana, for 14 years, where he significantly expanded local news programming and earned accolades such as the Indiana Broadcasters Association's 'Station of the Year.' O’Brien replaces Ronna Corrente, recently promoted to Senior Vice President-Local Media.
Gray Television (NYSE: GTN) has successfully acquired WKTB-CD, enhancing its reach in the Atlanta market with over one million viewers, primarily targeting Spanish and Korean audiences. The acquisition also includes Surge Digital Media, a digital marketing agency specializing in multicultural marketing. Susan Sim Oh has been appointed as Vice President of Strategy and Operations for the Telemundo Station Group, while Coline Sim takes on the role of Director of Telemundo Atlanta Operations. This acquisition expands Gray's operations across 12 markets, enhancing its leadership in local broadcasting.
Gray Television, Inc. (NYSE: GTN) will announce its earnings results for Q1 2022 on May 6, 2022. The earnings conference call is scheduled for the same day at 11:00 a.m. ET, accessible via phone at 1-855-493-3489 (confirmation code: 8298523) and online at www.gray.tv. Gray Television is the largest owner of local television stations in the U.S., serving 113 markets and reaching approximately 36% of U.S. households.
Gray Television, Inc. (NYSE: GTN) announced the promotion of six General Managers to enhance its senior management team. Ronna Corrente is appointed Senior Vice President-Local Media, overseeing Southeast television markets. The newly created Regional Vice President/General Manager position has five General Managers now managing additional markets. This restructuring follows the resignation of Chris Mossman, former Senior Vice President-Local Media, to pursue other opportunities. Gray operates the largest portfolio of top-rated local television stations in the U.S., reaching approximately 36% of U.S. households.
Gray Television has appointed Rob Boenau as the new General Manager of KOLD (CBS) in Tucson, Arizona. Boenau brings over 20 years of marketing experience from his previous role as Marketing Director for Gray’s WOIO and WUAB in Cleveland, where he led successful brand launches and digital initiatives, including the introduction of Telemundo Cleveland. Gray Television, based in Atlanta, is the largest owner of local television stations in the U.S., operating in 113 markets and reaching about 36% of U.S. households.
Gray Television, Inc. (NYSE: GTN) announced the election of Lorri McClain as an independent Director, effective March 1, 2022. The Board voted to expand by one seat to accommodate her. McClain is the President of Reicon Management, Inc. and possesses substantial experience in the media sector, previously leading Prestige Communications. With her diverse background in both business and philanthropy, McClain aims to contribute valuable insights to Gray’s Board. CEO Hilton H. Howell, Jr. expressed enthusiasm for her appointment, highlighting the fresh perspective she brings.
Gray Television, Inc. has promoted Lisa Allen to Vice President and General Manager of Washington Operations. Effective immediately, she will oversee Gray's Capitol Hill operations, ensuring integration with newsrooms across the company. Allen has been with Gray since 2019 as Executive Producer of 'Full Court Press with Greta Van Susteren.' Gray's Washington operations include a news bureau, political analysis, and a team of investigative journalists. The company aims to enhance its political content and journalism quality under her leadership.
Gray Television, Inc. (GTN) reported its fourth-quarter 2021 revenues of $721 million, a 9% decline from the previous year, primarily due to a significant drop in political advertising revenue. However, the acquisition of Meredith's Local Media Group and Quincy Media positively impacted core revenue, with a 26% increase in local and national advertising. Full-year revenue reached $2.4 billion, marking an all-time high. Despite the growth, net income fell by 89% year-over-year to $38 million, primarily due to increased expenses related to acquisitions. The company plans to maintain a robust share repurchase program.
Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for both common and Class A common stock. This dividend is scheduled for payment on March 31, 2022, to shareholders on record as of March 15, 2022.
As the largest owner of local television stations in the U.S., Gray serves 113 markets, reaching approximately 36% of U.S. television households, including numerous top-rated stations.
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