Gray Television Adopts Minimum Wage of $18 Per Hour

Rhea-AI Summary

Gray Television (NYSE: GTN) has announced a new minimum wage of $18 per hour, effective from October 1, 2022. This increase will benefit approximately 2,000 employees across the company and its subsidiaries. Executive Chairman Hilton Howell emphasized the importance of recognizing employee efforts during a year projected to be historic for the company. Gray Television continues to be a leader in the media industry, operating the largest network of local television stations in the U.S., reaching 36 percent of U.S. households.

Positive

• Implementation of a new minimum wage of $18 per hour.
• Approximately 2,000 employees receiving a wage increase.
• Recognition of employee contributions to the company's success.

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• None.

ATLANTA, Aug. 29, 2022 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today a new minimum wage of $18 per hour across the company. The new policy will become effective on October 1, 2022, for essentially all full-time, non-commissioned and non-contracted employees of Gray and its wholly owned subsidiaries. Roughly 2,000 employees will receive a raise as a result of this new policy.

Gray’s Executive Chairman Hilton Howell remarked, “We are well on our way to making 2022 another historic year for Gray Television. We know that this achievement will be the result of tremendous hard work and professionalism by thousands of dedicated employees. Today, we are excited to recognize and reward that effort with this industry leading new wage floor.”

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. Our television stations serve 113 television markets that collectively reach 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 Media Group (formerly Tupelo Honey), PowerNation Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios.

Gray Contact:

Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333

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FAQ

What wage increase did Gray Television announce?

Gray Television announced a wage increase to a minimum of $18 per hour effective October 1, 2022.

How many employees benefit from Gray Television's new wage policy?

Approximately 2,000 employees will benefit from Gray Television's new wage policy.

When does the new minimum wage policy for Gray Television take effect?

The new minimum wage policy for Gray Television takes effect on October 1, 2022.

What is the stock symbol for Gray Television?

The stock symbol for Gray Television is GTN.