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 announced the launch of a new in-house division for news research and consulting services, effective January 1, 2023. This initiative aims to enhance access to strategic advice and local market research for all of its television stations, not just those in larger markets. Veteran journalist Chris Archer will lead this team as Vice President, while Tony Calfo will serve as Director of Research. This transition is expected to improve operational efficiencies and bolster Gray’s media strategy across its extensive station network.
Gray Television, Inc. has promoted James Finch to Vice President of News Services. Finch has extensive experience in journalism, previously serving as Director of News Services, where he managed news vendor partnerships. In his new role, he will enhance support for newsrooms and lead an in-house news training program. With over 30 years in the field and a background as a corporate news coach, Finch's promotion reflects Gray's commitment to excellence in journalism. Gray is the largest owner of local television stations in the U.S., reaching about 36% of U.S. households.
Gray Television has promoted Marsha B. Fogarty to General Manager of WTOC, its CBS affiliate in Savannah, Georgia, effective October 21, 2022. With nearly 30 years of experience, Fogarty joined WTOC in 1998 and has held various positions, including general sales manager since 2014. She holds a Bachelor of Arts in English and is involved in local organizations, showcasing her commitment to the community.
Gray Television is the largest owner of local TV stations in the U.S., reaching about 36% of TV households through its extensive network.
Gray Television, Inc. (NYSE: GTN) will release its earnings results for Q3 2022 on November 4, 2022. A conference call to discuss these results is scheduled for the same day at 11:00 a.m. ET. Interested parties can dial in at 1-800-285-6670 and listen to a live webcast at www.gray.tv. Gray Television operates the largest portfolio of local TV stations in the U.S., reaching approximately 36% of U.S. households across 113 markets.
Gray Television and NBCUniversal Local's Telemundo Station Group have formed a pioneering news alliance, expanding Noticias Telemundo Texas to Gray's seven Texas Telemundo stations, effective October 10, 2022. This collaboration aims to deliver live news and weather updates in Spanish to around 429,000 Hispanic homes across 13 Texas DMAs. The initiative will provide nearly three times the amount of Texas-focused news in Spanish. Additionally, Gray's stations will simulcast local news from Telemundo Dallas and San Antonio, enhancing Spanish-language news accessibility in the region.
Gray Television, Inc. (NYSE: GTN) has exhibited strong cash flow for the second consecutive quarter, returning substantial capital to shareholders through dividends and debt repayments. During the quarter ending September 30, 2022, Gray made a voluntary principal payment of $100 million under its 2017 Term Loan B and a required payment of $3.75 million under the 2021 Term Loan D. Additionally, the company distributed $20 million in dividends. Gray anticipates continued robust cash flow, supporting further de-leveraging and dividend payments, with Q3 financial results expected in about four weeks.
Gray Television announced the launch of BEAT THE ODDS, a 30-minute weekly sports betting series debuting on over 100 stations on September 2, 2022. The show will combine news, data, and analysis with sports stories, targeting bettors and fans alike. Produced in collaboration with Tupelo Media, the show features experienced analysts and storytelling that engages the betting community. FOX5 KVVU-TV is also involved, and the production aims to offer educational and entertaining content on sports betting.
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.
Gray Television (NYSE: GTN) announced the launch of the Gray Media Training Center internship program in collaboration with WLBT in Jackson, Mississippi. The inaugural class features 10 students from Mississippi colleges, focusing on enhancing diversity in media. The 14-week program, commencing in late August, will provide training in broadcast and digital journalism, production, sales, and IT. Gray has committed over $1 million towards this initiative, aiming to equip students with essential skills for the evolving media landscape.
Gray Television announced the appointment of Michelle Robinson Harper as General Manager of WBTV (CBS) in Charlotte, effective September 6, 2022. Harper brings over 37 years of experience in broadcast media, previously serving as General Manager of WHBQ-TV in Memphis. Additionally, Shelly Hill Crawford has been promoted to the newly created position of WBTV Station Manager, effective July 20, 2022. Crawford has a 22-year history with WBTV, holding various roles.
Gray Television operates the largest number of local TV stations in the U.S., reaching approximately 36% of U.S. households.
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