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 appointed Brad Moses as the new General Manager of WTVG-TV (ABC) in Toledo, effective July 25th. Brad, a Toledo native, brings over 30 years of television experience, having previously worked at WTVG from 1994 to 2000. His most recent role was as General Manager of KWCH (CBS) and KSCW (CW) in Wichita, where he significantly expanded local news programming and won several prestigious awards. He succeeds Chris Fedele, who is now the GM of Gray's WPTA-TV and WISE-TV in Ft. Wayne, Indiana.
PowerNation Studios and Nashville Superspeedway are collaborating to host the inaugural POWER NATIONALS on September 3-4, 2022. This two-day event, aimed at car enthusiasts, will feature vehicle shows and competitions, including auto cross and drifting exhibitions. The event will culminate in a television special airing on September 17. PowerNation Studios, part of Gray Television (NYSE:GTN), produces popular automotive programs, while Nashville Superspeedway serves as a venue for various motorsports and entertainment events.
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) announces the premiere of its new series INSPIRED: Heroes of Change, airing June 4-5, 2022, on 100+ Gray Television stations. This pilot, hosted by Deuce McAllister and Kelsey Davis, features pro athletes like Warrick Dunn and Victor Cruz, highlighting their charitable initiatives aimed at assisting underserved youth. Olivia Steier from Hall of Fame Village Media states this collaboration with Tupelo Honey aims to deliver innovative, engaging content that conveys impactful stories.
Gray Television, Inc. (NYSE: GTN) appointed Chris Fedele as the new General Manager of WPTA-TV and WISE-TV in Ft. Wayne, Indiana, effective June 1, 2022. Fedele, a Northeast Indiana native, returns to WPTA-TV after a notable career, including previous roles as General Sales Manager and a decade as Director of Sales and Marketing for WLEX-TV in Kentucky. Gray Television is the largest owner of local television stations in the U.S., operating in 113 markets and covering approximately 36% of U.S. households.
Gray Television has announced a long-term agreement with NBCUniversal to lease and operate new production facilities at the Assembly Atlanta development in Georgia. The state-of-the-art studios are expected to create over 4,000 jobs in the local area, supporting both construction and production activities. The facility will feature multiple soundstages and production spaces, with construction projected to be completed by late 2023. The capital expenditure for this project is estimated between $130 million and $140 million for 2022.
Gray Television (NYSE: GTN) announced that its local stations received a record 69 regional Edward R. Murrow awards from the Radio Television Digital News Association. Notable winners included WVUE in New Orleans, securing 11 awards, and WMTV in Madison, with 7 awards. Four stations achieved Overall Excellence, and WVUE dominated with five Investigative awards. Gray’s chairman expressed pride in the recognition for excellence across diverse markets. The winners will advance to the national competition, with results to be announced later this year.
On May 26, 2022, InvestigateTV, owned by Gray Television (NYSE: GTN), announced the addition of two esteemed investigative reporters: Joce Sterman and Caresse Jackman. Sterman, an Emmy and Murrow award winner with over 20 years of experience, previously served as the lead National Investigative Correspondent for Spotlight on America. Jackman has been recognized for her reporting excellence at WSMV4, covering significant events such as Hurricane Katrina and the Flint Water Crisis. This expansion aims to enhance community-focused investigative journalism.
Gray Television has appointed Ron Bartholomew as the new General Manager of WNDU, the NBC affiliate in South Bend, Indiana, effective June 6. Bartholomew brings over 20 years of experience in media and sales, including leadership roles at CBS stations in New Orleans and Tampa Bay, and has been the director of sales at WMC Television in Memphis for the past three years. He succeeds John O’Brien, who moved to manage WAVE3 in Louisville. Gray Television is the largest owner of local TV stations in the U.S., reaching approximately 36% of U.S. households.
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 will be payable on June 30, 2022, to shareholders on record as of June 15, 2022. As the largest owner of local television stations in the U.S., Gray reaches approximately 36% of television households through its extensive portfolio of over 113 stations across 80 markets with top-rated programming.
Gray Television, Inc. (GTN) reported strong Q1 2022 results with total revenues of $827 million, a 52% increase from Q1 2021. Core advertising revenue rose 40%, retransmission consent revenue increased 59%, and political advertising surged 189%. Net income rose 88% to $49 million or $0.52 per share. Broadcast Cash Flow increased 61% to $271 million. Despite Transaction Related Expenses of $8 million, adjusted EBITDA also climbed 64% to $251 million. The company anticipates continued revenue growth in Q2 2022, projecting total revenue between $846 million to $864 million.
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