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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, Inc. (GTN) reported its fourth-quarter 2021 revenues of $721 million, a 9% decline from the previous year, primarily due to a significant drop in political advertising revenue. However, the acquisition of Meredith's Local Media Group and Quincy Media positively impacted core revenue, with a 26% increase in local and national advertising. Full-year revenue reached $2.4 billion, marking an all-time high. Despite the growth, net income fell by 89% year-over-year to $38 million, primarily due to increased expenses related to acquisitions. The company plans to maintain a robust share repurchase program.
Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for both common and Class A common stock. This dividend is scheduled for payment on March 31, 2022, to shareholders on record as of March 15, 2022.
As the largest owner of local television stations in the U.S., Gray serves 113 markets, reaching approximately 36% of U.S. television households, including numerous top-rated stations.
Gray Television, Inc. (NYSE: GTN) has appointed Micheal Smith as the Station Manager for its independent station PeachtreeTV (WPCH-TV) in Atlanta. With over 25 years in broadcasting, Smith previously served as the marketing manager for WGCL CBS 46 and PeachtreeTV. His extensive experience in the Atlanta market is expected to enhance local programming. Erik Schrader, General Manager, expressed confidence in Smith’s ability to elevate PeachtreeTV and is enthusiastic about the new programming direction.
Gray Television has promoted Patience Hettrick to Station Manager of WGGB-TV ABC 40 and WSHM-LD CBS 3 in Springfield, Massachusetts, effective immediately. She has served as news director for both stations since March 2015 and retains that role in her new position. Hettrick has a significant background in broadcast news, having previously worked at WFSB CBS 3 in Hartford, Connecticut. She also teaches at Middlesex Community College and holds a Master’s degree in education from the University of Hartford.
Gray Television has announced the launch of a new syndicated television series titled BEAT THE ODDS, produced by Tupelo Honey in collaboration with KVVU FOX5 in
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.
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