GRAY CLOSES ITS PURCHASE OF TELEMUNDO ATLANTA

Rhea-AI Summary

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.

Positive

• Acquisition of WKTB-CD expands Gray's market reach to over one million viewers in Atlanta.
• Inclusion of Surge Digital Media enhances the company's capabilities in multicultural marketing.
• Appointment of experienced leadership (Susan Sim Oh) strengthens strategic direction.

Negative

• None.

Susan Sim Oh Now Leads Gray’s Telemundo Station Group

ATLANTA, April 01, 2022 (GLOBE NEWSWIRE) --  Gray Television, Inc. (“Gray”) (NYSE: GTN) today closed on its previously announced acquisition of WKTB-CD, which broadcasts top-tier Spanish and Korean broadcast networks, including Telemundo and which ultimately serves the fastest growing minority groups in Atlanta with a reach of over one million viewers. The purchase also included sister company Surge Digital Media, a full-service, boutique digital agency that excels at multi-cultural, multi-lingual marketing and video production.  

Concurrent with the closing, the station’s former owners joined Gray Television along with the rest of the station and Surge Digital employees. Susan Sim Oh is now Gray’s Vice President of Strategy and Operations, Telemundo Station Group. In this new role, she will guide strategy, multi-platform operations, and expansion across the nation for Gray’s Telemundo Station Group, which currently comprises 12 markets, seven of which are located in Texas. Coline Sim is now Gray’s Director of Telemundo Atlanta Operations, through which he will continue to oversee the operations of WKTB in conjunction with the station’s Vice President and General Manager, Maria Bastidas.

About Gray:

Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets in the United States that serve 113 television markets reaching approximately 36 percent of US television households. This portfolio includes 80 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station. We also own video program companies Raycom Sports, Tupelo Honey, and PowerNation Studios, as well as Third Rail Studios.

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FAQ

What recent acquisition did Gray Television complete?

Gray Television acquired WKTB-CD, a station that broadcasts Telemundo and Korean networks.

Who is now leading Gray's Telemundo Station Group?

Susan Sim Oh has been appointed Vice President of Strategy and Operations for Gray’s Telemundo Station Group.

How does the acquisition of WKTB-CD impact Gray Television's viewer reach?

The acquisition enhances Gray's viewer reach by over one million in the Atlanta market.

What role does Surge Digital Media play in Gray's operations?

Surge Digital Media, acquired alongside WKTB-CD, focuses on multicultural marketing and video production.

How many markets does Gray's Telemundo Station Group operate in after the acquisition?

Gray's Telemundo Station Group operates in 12 markets, including seven in Texas.