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.
Company Overview
Gray Media Inc (NYSE: GTN), formerly known as Gray Television Inc, is a leading multimedia company headquartered in Atlanta, Georgia. With a robust presence in the broadcast industry and a comprehensive suite of digital assets, Gray Media partners with communities nationwide by owning and operating top-rated local television stations and offering innovative digital marketing solutions. The company’s expansive portfolio spans numerous television markets, granting it significant influence in delivering local news, sports, and entertainment to millions of households.
Business Model & Operations
Gray Media operates through a multi-faceted business model that includes:
- Local Broadcasting: Owning and operating an impressive network of television stations in key markets with affiliations to major networks such as ABC, CBS, NBC, and FOX. This ensures a dominant market position in delivering local, reliable content.
- Digital Innovation: Gray Digital Media, the company’s full-service digital agency, crafts advanced digital marketing strategies, offering clients a range of digital products and services that leverage the evolving capabilities of the online ecosystem.
- Content Production: The company further diversifies its operations with subsidiaries in video production, including established groups that produce sports and entertainment content from studio production facilities, ensuring high-quality and innovative media offerings.
- Advertising & Revenue Streams: Revenue is generated not only through traditional broadcast advertising and retransmission fees but also via digital advertising, making it resilient against market fluctuations and attuned to changing audience consumption patterns.
Digital Transformation and Industry Expertise
With the convergence of traditional media and digital delivery, Gray Media has embraced technological insights to remain at the forefront of the rapidly changing broadcast landscape. Through strategic investments in ATSC 3.0 and other digital transmission innovations, the company ensures faster, more secure, and cost-effective data delivery, positioning itself uniquely against competitors. Its simultaneous commitment to both over-the-air broadcasts and enhanced digital services reinforces its reputation as a pioneer in adapting classic media platforms for the digital age.
Competitive Landscape & Market Significance
Occupying a critical space in the American media landscape, Gray Media’s extensive network reaches a significant portion of television households nationally. The company leverages its dual platforms—broadcast and digital—to create synergies that amplify its market presence. By collaborating on live sports, local news, and community-driven entertainment across diverse channels, Gray Media not only reinforces its competitive status but also showcases its capacity to innovate while maintaining high audience engagement.
Commitment to Quality & Local Impact
Gray Media places strong emphasis on producing high-quality, local content tailored to the unique tastes and needs of regional audiences. With a deep-rooted commitment to local journalism, sports broadcasting, and community storytelling, the company consistently demonstrates its expertise and experience. Whether through award-winning investigative journalism, comprehensive live-event coverage, or cutting-edge digital marketing campaigns, Gray Media delivers reliable and engaging content that builds trust among viewers and advertisers alike.
Summary
In summary, Gray Media Inc stands as a multifaceted multimedia powerhouse whose operations extend well beyond traditional television broadcasting. Its strategic integration of digital assets, content production capabilities, and strong local market presence positions the company as a foundational entity in media evolution. For investors and analysts, Gray Media’s diversified structure, emphasis on technological advancement, and solid operational practices offer a clear insight into its robust and dynamic business model within an ever-evolving industry.
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.
Gray Television (GTN) has declared a quarterly cash dividend of $0.08 per share for its common and Class A common stock. The dividend will be payable on September 30, 2022, to shareholders on record by September 15, 2022. Gray Television is the largest owner of local television stations in the U.S., serving 113 television markets and reaching approximately 36% of U.S. households. The company also owns video program companies and several studio facilities across the nation.
Gray Television, Inc. (GTN) reported strong financial results for Q2 2022, with total revenue of $868 million, up 59% from Q2 2021. Net income soared by 231% to $86 million, or $0.91 per share. Fueled by recent acquisitions and political advertising, cash flow was robust, allowing the company to return $125 million to shareholders through debt repayment, stock repurchase, and dividends. Political revenue is projected to match $652 million for the year. As of June 30, 2022, total leverage ratio was 5.16 times, and Gray ended the quarter with $162 million in cash.
Gray Television has announced management streamlining as of August 1, 2022, promoting General Managers to Regional Vice Presidents overseeing additional stations. Key promotions include Ted Fortenberry overseeing WLBT and nearby stations, Corey Hanson managing multiple Oregon and Alaska outlets, and Jasmine Hatcher Hardin adding Kentucky and Indiana stations to her responsibilities. This reorganization follows the resignation of Tim Ingram, Senior Vice President, Local Media, who left to pursue other opportunities. Gray operates the largest network of local television stations in the U.S., covering 36% of TV households.
Gray Television has announced the promotion of David Herrmann to General Manager of KWCH (CBS) and KSCW (CW) in Wichita, Kansas, effective August 2, 2022. Herrmann, a 32-year industry veteran, was previously the Director of Sales at KWCH and KSCW since 2017. Additionally, Patience Hettrick has been promoted from Station Manager/News Director to General Manager of WGGB-TV ABC 40 and WSHM-LD CBS 3 in Springfield, Massachusetts. This marks a strategic leadership enhancement for Gray as it continues to operate and dominate local markets, reaching approximately 36% of US television households.
Gray Television, Inc. (NYSE: GTN) will release its earnings results for Q2 2022 on August 5, 2022. The company will also host a conference call at 11:00 a.m. ET on the same day to discuss operating results. Interested parties can join the call using the dial-in number 1-800-289-0720, with a confirmation code of 7144937. A replay will be available until September 4, 2022. Gray Television is the largest owner of local television stations in the U.S., serving 113 markets and reaching approximately 36% of U.S. households.
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