Welcome to our dedicated page for Gray Television news (Ticker: GTN), a resource for investors and traders seeking the latest updates and insights on Gray Television stock.
Gray Television, Inc. (GTN) is a leading television broadcast company headquartered in Atlanta, Georgia. The company owns and operates television stations and leading digital assets across the United States. Gray's portfolio includes stations in 114 television markets, collectively reaching approximately 36 percent of U.S. television households, with top-rated stations in 79 markets and the first or second highest-rated stations in 102 markets.
Gray Television operates 139 program streams, including 76 affiliates of the country's four major networks—ABC, CBS, NBC, and FOX. Specifically, Gray owns and operates 26 CBS-affiliated channels, 24 NBC-affiliated channels, 16 ABC-affiliated channels, and 10 FOX-affiliated channels. Notably, the company owns and operates the number-one ranked television station in 29 of its 44 markets and the number-one or number-two ranked television station operations in 40 of these markets. This widespread reach allows Gray to influence approximately 8.1 percent of total U.S. television households.
The company operates primarily in two segments: Broadcasting and Production. The Broadcasting segment generates the majority of Gray's revenue by operating local television stations across the U.S. The Production segment includes video program production, marketing, and digital business. Gray Television also owns video program companies such as Raycom Sports, Tupelo Media Group, and PowerNation Studios, as well as studio production facilities like Assembly Atlanta and Third Rail Studios. Additionally, Gray owns a majority interest in Swirl Films.
Recent achievements highlight Gray's commitment to quality journalism and community service. WANF (CBS) in Atlanta won the Large Market category for its investigative series
Gray Television (NYSE: GTN) announced the appointment of Eric Walters as the new General Manager of KMVT (CBS) and KSVT-LD (FOX) in Twin Falls, Idaho, effective June 12, 2023. He succeeds Kathy Silk, who retired after nearly 30 years in the broadcast industry. Eric brings over 31 years of experience, having been the News Director at WDBJ in Roanoke, Virginia, where he led the station to significant ratings growth and multiple awards, including the Edward R. Murrow Awards.
Gray Television is the largest owner of local television stations in the U.S., serving 113 markets and reaching approximately 36% of U.S. television households. The company also owns video program companies and production facilities, enhancing its operational capabilities.
Gray Television (NYSE: GTN) announces the launch of a new weekday news magazine program, InvestigateTV+, set to debut on September 11, 2023. This program follows the success of its weekend counterpart, InvestigateTV, which attracts an average viewership of 1.2 million households per week. InvestigateTV+ will feature investigative journalism, consumer health stories, and original content from Gray’s 113 local markets, broadening its audience reach.
The program will be hosted by renowned journalists Lee Zurik and Tisha Powell, who will leverage their extensive experience to provide impactful storytelling. Gray aims to enrich viewer engagement through a network of local newsrooms and dedicated reporting teams, enhancing its position as a leading multimedia company.
Gray Television, Inc. (NYSE: GTN) will announce its earnings for the quarter ending March 31, 2023, on May 5, 2023. An earnings conference call will be held at 11:00 a.m. Eastern Time on the same day, with a live dial-in number of 1-800-285-6670. The call will also be available for live streaming and replay on www.gray.tv. Gray Television is the largest owner of local television stations in the U.S., reaching approximately 36% of U.S. households through its extensive portfolio that includes top-rated stations in major markets. The company is headquartered in Atlanta, Georgia, and operates in various multimedia sectors, including video programming and production facilities.
Gray Television has appointed Blanca Esparza Pap and Micheal Smith as Assistant Vice Presidents of Gray Media Group, effective April 1, 2023. Esparza Pap, previously the Station Manager for Arizona’s Family 3TV, has extensive experience in community relations and marketing. Smith, who was the first Station Manager for PeachtreeTV, brings over 25 years of experience in broadcast management and marketing. Gray Television continues to expand its leadership team to enhance its local programming capabilities in Atlanta and other markets, further solidifying its position as the nation’s largest owner of local television stations.
Gray Television has announced the promotion of five Senior Vice Presidents to the new role of Senior Managing Vice President, effective immediately. The individuals promoted are Sandy Breland, Ronna Corrente, Colin Gaston, Matt Jaquint, and Mike King. This recognition highlights their leadership and contributions to Gray's television stations and digital businesses. Gray Television is the largest owner of local TV stations in the U.S., operating in 113 markets that reach about 36% of U.S. TV households. The company's portfolio features 79 top-rated stations and includes video program companies and production facilities.
Gray Television, Inc. (NYSE: GTN) announced the addition of Jennifer Rigby to its in-house news research and consulting team. Rigby, with nearly 40 years in the news industry, previously served as News Director at WXIA in Atlanta and holds accolades for high-quality journalism, including a duPont Columbia Award in 2023. This strategic move is part of Gray’s transition to a leading research and consulting group designed to enhance local news services through innovative models and high-frequency insights. The team, led by Chris Archer, is expected to set new standards for success in the industry.
Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for its common and Class A common stock. This dividend is set to be paid on March 31, 2023, to shareholders on record as of March 15, 2023. As the largest owner of local television stations in the U.S., Gray operates in 113 markets and reaches approximately 36% of U.S. TV households. They have a significant presence in top-rated television stations, claiming 79 markets with the leading station and 101 with the first or second highest rated stations in 2022.
Gray Television reported strong fourth quarter 2022 results with $1.1 billion in total revenue, a 49% increase year-over-year, driven mainly by political advertising revenue soaring to $255 million, up 1175%. Full-year revenue reached $3.7 billion, marking a 52% increase. The company returned $174 million to shareholders, including $20 million in dividends. Looking ahead, Gray anticipates flat revenues amid potential macroeconomic challenges and expects retransmission revenue to rise by 10%-11% in Q1 2023. Recent initiatives include a $300 million securitization facility and interest rate caps to manage debt costs.
Gray Television (NYSE: GTN) announced a significant station swap with Marquee Broadcasting. Gray will sell KNIN, its Fox affiliate in Boise, Idaho, while acquiring WPGA, a MeTV affiliate in Macon, Georgia. This move allows Gray to maintain a full-power television presence in Georgia. The transactions are expected to close in the second quarter of 2023 upon regulatory approval. Gray operates the largest portfolio of local television stations in the U.S., reaching approximately 36 percent of U.S. households, with a strong showing in top-rated markets.
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