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 has signed an agreement to acquire WKTB-CD from Capital Media Group, enhancing its presence in Atlanta’s competitive media landscape. The acquisition includes Surge Digital Media, known for multicultural marketing. Gray now boasts a reach of over one million viewers, targeting the fastest-growing minority groups in the area. With this deal, Gray strengthens its position in the sixth largest U.S. television market and will own Telemundo affiliates in 12 markets. The transaction is expected to close after receiving necessary approvals.
Gray Television (NYSE: GTN) will release its earnings results for Q4 2021 on February 25, 2022. The conference call will begin at 11:00 a.m. ET to discuss the operating results. Interested parties can join the call at 1-855-493-3489 and access a live webcast at www.gray.tv. Gray is the second largest TV broadcaster in the U.S., reaching approximately 36% of U.S. television households, and operates numerous high-rated television stations across 113 markets.
Gray Television, Inc. (NYSE: GTN) has appointed Stephanie Hedrick as the new General Manager of KTTC in Rochester, Minnesota, effective January 10, 2022. Hedrick, who started her career at KWTX in Texas, previously served as news director at KWQC in Iowa, where she significantly increased market share. Her predecessor, Bryce Caldwell, moved to WHNS in South Carolina following Gray's acquisition of Meredith Corporation. Gray Television is a leading owner of local TV stations and digital assets across the U.S.
Gray Television (GTN) has appointed Michael Hornfeck as General Manager of KOLD (CBS) in Tucson, Arizona, succeeding Eric Duncan. Hornfeck brings nearly 40 years of local media experience, having previously served as national sales manager at KVOA and held various management roles there since 2005. His strong ties to the Tucson community and in-depth knowledge of the advertising market position him well to lead KOLD moving forward.
Gray Television announces a two-year deal with legendary Atlanta anchor Monica Kaufman Pearson to host programs on CBS46/WGCL-TV and Peachtree TV/WPCH-TV starting February 2022. Pearson, a pioneer in journalism, is set to launch an interview-themed series, enhancing local programming aimed at deeper viewer engagement. Gray Television, which recently acquired CBS46 and Peachtree TV, aims to enrich its content offerings. With numerous accolades, Pearson is expected to significantly impact the stations' programming strategy.
Gray Television (GTN) has expanded its National Investigative Team, InvestigateTV, enhancing its commitment to investigative journalism. Lee Zurik has been promoted to Vice President of Investigations, while Jamie Grey and Greg Phillips have also received promotions within the team. New hire Daniela Molina joins as an Investigative Producer. The team plans to add more members in 2022, building on successful investigations that highlighted key issues such as government oversight and healthcare disparities. The InvestigateTV show, launched earlier this year, reached an average of 850,000 viewers per episode.
Gray Television has successfully completed the acquisition of Meredith Corporation's Local Media Group, totaling $2.8 billion, or $16.99 per share. This addition strengthens Gray's status as the second largest television broadcaster in the U.S., with anticipated annual revenues of over $3.2 billion. The deal is expected to boost free cash flow per share by 50% for 2021/22, while also leading to updated revenue guidance of $655-$665 million and operating expenses of $457-$466 million for Q4 2021. Gray aims to leverage this acquisition to enhance its market presence.
Origin Sports Network has expanded its distribution, now available on Samsung TV Plus and The Roku Channel, increasing its audience significantly. The channel features diverse sports content, including original programming like The Rise and Origin Sports Portraits, showcasing athletes from various eras. Upcoming themed programming includes Heisman Week and Bowl Week, featuring legendary performances. Chad Swofford from Raycom Sports expressed excitement about the network's growth and audience engagement.
Gray Television has appointed Jennifer Rieffer as the General Manager of WXIX (FOX) in Cincinnati, effective after the acquisition of Meredith Corporation’s Local Media Group on December 1, 2021. Rieffer brings 26 years of industry experience, having held various positions in sales and management at several television stations, including WDKY and WSMH. This strategic move comes as Gray prepares to enhance its market presence, becoming the second-largest television broadcaster in the U.S., serving 113 markets and reaching approximately 36% of U.S. television households.
Gray Television has appointed several new General Managers across its TV station portfolio as part of its acquisition of Meredith Corporation's stations, expected to finalize in December 2021. The new managers include Matt Moran in Cleveland, Pete Veto in Knoxville, Jim McKernan in Omaha, David Hughes in Charleston-Huntington, Peter Russell in Peoria, and Laura Serbon in Charlottesville. Gray will become the second largest TV broadcaster in the U.S., reaching 36% of U.S. households upon completing this acquisition.
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