Gray Television, Inc. Will Officially Become Gray Media, Inc.
Gray Television (NYSE: GTN) announced its Board of Directors has unanimously approved changing the company's name to Gray Media, Inc., effective January 1, 2025. The change aligns with the company's recent practice of being referred to as 'Gray Media' or 'Gray'. Executive Chairman Hilton H. Howell noted this reflects the company's expansion into new geographic and business markets, diversified reach beyond local media, and increased investment in new business models and technologies. The name change won't affect trading symbols, CUSIPs, or security holders' rights, with common stock and Class A common stock expected to trade under the new name starting January 10, 2025.
Gray Television (NYSE: GTN) ha annunciato che il suo Consiglio di Amministrazione ha approvato all'unanimità il cambiamento del nome dell'azienda in Gray Media, Inc., a partire dal 1 gennaio 2025. Questo cambiamento è in linea con la recente prassi dell'azienda di essere chiamata 'Gray Media' o 'Gray'. Il Presidente Esecutivo Hilton H. Howell ha sottolineato che ciò riflette l'espansione dell'azienda in nuovi mercati geografici e commerciali, una portata diversificata oltre i media locali e un aumento degli investimenti in nuovi modelli di business e tecnologie. Il cambio di nome non influenzerà i simboli di negoziazione, i CUSIP o i diritti degli azionisti, con le azioni ordinarie e le azioni comuni di Classe A che si prevede vengano scambiate sotto il nuovo nome a partire dal 10 gennaio 2025.
Gray Television (NYSE: GTN) anunció que su Junta Directiva ha aprobado por unanimidad el cambio del nombre de la compañía a Gray Media, Inc., efectivo a partir del 1 de enero de 2025. Este cambio se alinea con la práctica reciente de ser referido como 'Gray Media' o 'Gray'. El Presidente Ejecutivo Hilton H. Howell destacó que esto refleja la expansión de la compañía en nuevos mercados geográficos y comerciales, un alcance diversificado más allá de los medios locales y un aumento en la inversión en nuevos modelos de negocio y tecnologías. El cambio de nombre no afectará los símbolos de negociación, CUSIPs ni los derechos de los accionistas, con acciones comunes y acciones comunes de Clase A que se espera se comercien bajo el nuevo nombre a partir del 10 de enero de 2025.
Gray Television (NYSE: GTN)은 이사회가 회사 이름을 Gray Media, Inc.로 변경하기로 만장일치로 승인했다고 발표했습니다. 이 변경은 2025년 1월 1일부터 유효합니다. 이 변화는 최근 'Gray Media' 또는 'Gray'라 불리는 관행과 일치합니다. 총괄 회장인 Hilton H. Howell은 이는 새로운 지리적 및 비즈니스 시장으로의 확대, 지역 미디어를 넘어선 다양화된 범위, 및 새로운 비즈니스 모델과 기술에 대한 투자 증가를 반영한다고 언급했습니다. 이름 변경은 거래 기호, CUSIP 또는 보유자 권리에 영향을 미치지 않으며, 일반 주식 및 A 클래스 주식은 2025년 1월 10일부터 새로운 이름으로 거래될 것으로 예상됩니다.
Gray Television (NYSE: GTN) a annoncé que son Conseil d'Administration a approuvé à l'unanimité le changement de nom de la société en Gray Media, Inc., effectif le 1er janvier 2025. Ce changement s'aligne sur la pratique récente de l'entreprise d'être appelée 'Gray Media' ou 'Gray'. Le Président Exécutif Hilton H. Howell a souligné que cela reflète l'expansion de l'entreprise dans de nouveaux marchés géographiques et commerciaux, une portée diversifiée au-delà des médias locaux et un investissement accru dans de nouveaux modèles commerciaux et technologies. Le changement de nom n'affectera pas les symboles de négociation, les CUSIP ou les droits des détenteurs de titres, les actions ordinaires et les actions ordinaires de Classe A devant être négociées sous le nouveau nom à partir du 10 janvier 2025.
Gray Television (NYSE: GTN) gab bekannt, dass der Vorstand einstimmig die Umbenennung des Unternehmens in Gray Media, Inc. zum 1. Januar 2025 genehmigt hat. Diese Änderung steht im Einklang mit der jüngsten Praxis, als 'Gray Media' oder 'Gray' bezeichnet zu werden. Der Executive Chairman Hilton H. Howell merkte an, dass dies die Expansion des Unternehmens in neue geografische und Geschäftsmärkte, einen diversifizierten Einfluss über lokale Medien hinaus und eine erhöhte Investition in neue Geschäftsmodelle und Technologien widerspiegelt. Die Namensänderung hat keine Auswirkungen auf Handelskennzeichen, CUSIPs oder die Rechte der Aktionäre; es wird erwartet, dass die Stammaktien und die A-Klasse-Stammaktien ab dem 10. Januar 2025 unter dem neuen Namen gehandelt werden.
- Company expanding into new geographic and business markets
- Increased investment in new business models and technologies
- Diversification beyond traditional local media
- None.
Insights
The name change from Gray Television to Gray Media represents more than mere cosmetic rebranding - it's a strategic pivot reflecting the company's evolution beyond traditional broadcasting. This move aligns with industry-wide trends where media companies are diversifying revenue streams and expanding digital presence to combat declining traditional TV viewership.
The timing is particularly noteworthy as we enter 2025, with broadcast companies facing increasing pressure from streaming services and digital platforms. Gray's emphasis on "new business models and technologies" suggests potential investments in digital content delivery, streaming initiatives and possibly AI-driven content production - critical areas for future growth in the media landscape.
However, maintaining the trading symbols and CUSIPs indicates this is primarily a strategic repositioning rather than a fundamental business restructuring. This continuity is important for institutional investors and should minimize any disruption in trading or market confusion. The move positions Gray to potentially pursue more diverse acquisition targets and partnership opportunities beyond traditional broadcasting assets.
The rebranding reflects broader industry dynamics where traditional broadcasters are being forced to reinvent themselves. Gray's 127-year legacy in broadcasting provides strong foundational relationships with advertisers and viewers, but the "Media" designation opens doors to new revenue opportunities in digital advertising, content licensing and emerging media technologies.
What's particularly interesting is the reference to "new business models" - this suggests Gray may be exploring additional revenue streams such as subscription-based services, digital content marketplaces, or technology licensing. The company's extensive local market presence across the U.S. could be leveraged to create valuable digital-first content and advertising solutions.
While the immediate financial impact is minimal, this strategic repositioning could enhance Gray's appeal to technology-focused investors and partners who might have previously viewed it solely as a traditional broadcaster. The unanimous board approval also signals strong internal alignment on this strategic direction.
ATLANTA, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE: GTN) today announced that its Board of Directors has unanimously voted to change the company’s name to Gray Media, Inc. effective as of 12:01 a.m. on January 1, 2025. The Board’s action aligns the company’s formal name with the widespread practice over the past few years of referring to the company as “Gray Media” or simply “Gray” both internally and externally.
Executive Chairman, Hilton H. Howell, explained, “Over the past decade, Gray has grown into new geographic and business markets, while also expanding content and product offerings for our loyal viewers. Our reach has diversified beyond local media, and we’re investing time and resources into new business models and technologies — more now than at any other time in the company’s 127-year history. With this growth and change, formally updating the company’s name to Gray Media, Inc. reflects our ongoing transformation and continued desire to lead the way in traditional and new media, alongside our leading broadcast stations.”
The name change does not affect the company’s trading symbols, its CUSIPs, nor the rights of its security holders. The company anticipates that its common stock and Class A common stock will begin trading under its new name on January 10, 2025.
Forward-Looking Statements:
This press release contains certain forward-looking statements that are based largely on Gray’s current expectations and reflect various estimates and assumptions by Gray. These statements are statements other than those of historical fact and may be identified by words such as “estimates,” “expect,” “anticipate,” “will,” “implied,” “intend,” “assume” and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond Gray’s control, include Gray’s ability to complete its corporate name change, and other future events. Gray is subject to additional risks and uncertainties described in Gray’s quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the “Risk Factors,” and management’s discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, www.graymedia.com. Any forward-looking statements in this communication should be evaluated in light of these important risk factors. This press release reflects management’s views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this communication beyond the date hereof, whether as a result of new information, future events or otherwise.
About Gray:
Gray Media, or Gray, is a multimedia company headquartered in Atlanta, Georgia, formally known as Gray Television, Inc. The company is the nation’s largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 36 percent of US television households. The portfolio includes 77 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station, as well as the largest Telemundo Affiliate group with 43 markets totaling nearly 1.5 million Hispanic TV Households. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray’s additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. Gray owns a majority interest in Swirl Films. For more information, please visit www.graymedia.com.
Gray Contacts:
Jeffrey R. Gignac, Executive Vice President, Chief Financial Officer, 404-504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333
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