STOCK TITAN

Gray Television Announces New General Managers for Certain Meredith Markets

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Gray Television (NYSE: GTN) announced the transition of several General Managers to lead television stations being acquired from Meredith Corporation. This strategic move, expected to finalize in December 2021, aims to facilitate the swift integration of these stations into Gray’s existing operations. Key appointments include Erik Schrader in Atlanta, Debbie Bush in Phoenix, Jasmine Hatcher Hardin in Nashville, Andrew Stewart in Kansas City, Bryce Caldwell in Greenville-Spartanburg, and Eric Duncan in Mobile. Upon completion, Gray will become the second-largest U.S. television broadcaster, serving 113 markets.

Positive
  • Strategic appointment of experienced General Managers to enhance integration.
  • Anticipated completion of Meredith acquisition will significantly expand market presence.
  • Gray will become the second-largest television broadcaster in the U.S.
Negative
  • None.

ATLANTA, Nov. 15, 2021 (GLOBE NEWSWIRE) --  Gray Television, Inc. (“Gray”) (NYSE: GTN) today announced that several of its current General Managers will assume leadership of television stations that Gray will acquire from Meredith Corporation (“Meredith”) effective at the closing of Gray’s acquisition of Meredith’s Local Media Group, which the parties anticipate will occur in December 2021.

Gray’s senior leadership appreciates the loyal service that these stations’ current General Managers have provided to these Meredith television stations and their local communities. Nevertheless, after careful consideration and extensive analysis over the past several months, Gray concluded that immediate changes in certain Meredith markets would facilitate the prompt integration of these stations into the Gray portfolio of leading local television stations and local digital platforms. In the next few days, Gray will announce additional General Manager moves and promotions across its current television stations to fill the openings created by today’s announcement.

In Atlanta, Georgia (DMA 6), Erik Schrader will become the General Manager of WGCL (CBS) and WPCH (PeachtreeTV). Erik has been the General Manager of WOIO (CBS) and WUAB (CW) in Cleveland, Ohio, since 2016. During his time at WOIO, the station has undergone a major rebranding, seen solid increases in ratings and revenue, and has been at the forefront of OTT innovation. Previously, Erik has served as General Manager at KSNW in Wichita, Kansas, and WIAT in Birmingham, Alabama. He began his career working in news production before becoming a news reporter, sports director, and, in several markets, news director. He is currently a board member of the Ohio Association of Broadcasters.

In Phoenix, Arizona (DMA 12), Debbie Bush will become the General Manager of KPHO (CBS) and KTVK (3TV). For the past nearly seven years, Debbie has served as the General Manager of Gray’s WXIX (FOX) in Cincinnati, Ohio. Prior to that, she was the General Manager of (then-Raycom, now Gray) television stations KOLD in Tucson, Arizona, and WFIE in Evansville, Indiana. Debbie has held various news positions, including news director, in Kansas City, Missouri; Indianapolis, Indiana; and Pittsburgh, Pennsylvania, among other cities.

In Nashville, Tennessee (DMA 30), Jasmine Hatcher Hardin will become the General Manager of WSMV (NBC). Over the last several years, she has served as national sales manager, general sales manager and then General Manager of Gray’s WVLT (CBS) and WBXX (CW) in Knoxville, Tennessee. She is a Tennessee native and graduate of the University of Tennessee’s Journalism and Electronic Media School where she serves on the Alumni Board. Under her leadership, WVLT was awarded the Gray Television Station of the Year in 2019, won the Regional News Excellence Award in 2020, and recently received two National Edward R. Murrow Awards.

In Kansas City, Missouri, (DMA 32), Andrew Stewart will become the General Manager of KCTV (CBS) and KSMO (MyNetwork). For the past three years, Andrew has served as the General Manager of Gray’s WOWT (NBC) in Omaha, Nebraska. Andrew has more than 35 years of broadcast television experience. He spent nearly eight years as General Manager of Sinclair of Northern California, where he led an operation consisting of ten network affiliates in three Northern California markets. He also has held General Manager and sales management positions in Tucson, Arizona, and Albuquerque, New Mexico, and he previously served as Corporate Director of Television Sales for the former Lee Enterprises.

In Greenville-Spartanburg, South Carolina (DMA 38), Bryce Caldwell will become the General Manager of WHNS (FOX). Since 2019, Bryce has served as the General Manager of KTTC (NBC) in Rochester, Minnesota, which Gray recently acquired from Quincy Media. Prior to joining KTTC, he served as General Manager of WTNZ (FOX) in Knoxville, Tennessee, and he previously worked in sales at WATE (ABC) in Knoxville. Bryce began his broadcast career in Nashville, Tennessee and also worked in sales positions in Orlando, Florida.

In Mobile, Alabama (DMA 57), Eric Duncan will become the General Manager of WALA (FOX). He has served as the General Manager of Gray’s KOLD (CBS) in Tucson, Arizona, for the past three years. Eric previously served as General Manager of KXXV (ABC) in Waco, Texas, and WSFA (NBC) in Montgomery, Alabama, both of which were then owned by Raycom Media. Eric has held various sales positions roles at television stations in Dallas, Austin, and Lubbock, Texas.

About Gray Television:

Gray Television, headquartered in Atlanta, Georgia, is the largest owner of top-rated local television stations and digital assets in the United States. Upon its anticipated acquisition of the television stations of Meredith Corporation, Gray will become the nation’s second largest television broadcaster, with television stations serving 113 markets that reach approximately 36 percent of US television households. The pro forma portfolio includes 79 markets with the top-rated television station and 101 markets with the first and/or second highest rated television station according to Comscore’s audience measurement data. Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and content and is the majority owner of Swirl Films.

#        #        #

Attachments


FAQ

What is Gray Television's acquisition plan with Meredith Corporation?

Gray Television plans to acquire Meredith Corporation's Local Media Group, expecting completion in December 2021.

Who are the new General Managers appointed by Gray Television?

Gray has appointed Erik Schrader, Debbie Bush, Jasmine Hatcher Hardin, Andrew Stewart, Bryce Caldwell, and Eric Duncan as new General Managers.

How will Gray Television's acquisition of Meredith affect its market position?

Upon acquisition, Gray will become the second-largest television broadcaster in the U.S., reaching 36% of U.S. television households.

What markets will Gray Television expand into with the Meredith acquisition?

Gray Television will expand into 113 markets across the U.S. with the acquisition of Meredith's television stations.

When is the expected completion date for Gray Television's acquisition of Meredith?

The acquisition of Meredith's Local Media Group is expected to be completed in December 2021.

Gray Television, Inc.

NYSE:GTN

GTN Rankings

GTN Latest News

GTN Stock Data

305.48M
86.74M
6.54%
73.13%
4.63%
Broadcasting
Television Broadcasting Stations
Link
United States of America
ATLANTA