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 has commenced an offering of $550 million in senior notes due 2030, which are senior unsecured obligations guaranteed by restricted subsidiaries. The intended use of proceeds includes redeeming existing 5.125% senior notes due 2024 worth $525 million, covering offering fees, and funding general corporate purposes. A conditional notice of redemption for the existing notes has been issued, set for October 19, 2020, pending the offering's completion.
Gray Television, Inc. (GTN) is set to release its earnings results for the quarter ending September 30, 2020, on November 5, 2020. A conference call will be held at 11:00 a.m. Eastern Time to discuss these results, accessible via a live dial-in or webcast. Gray operates in 94 markets, reaching about 24% of US television households. In 2019, its stations ranked first in 69 markets. For more details, visit www.gray.tv.
Gray Television has appointed Jay Webb as the General Manager of WHSV (ABC) and WSVF (CBS/Fox) in Harrisonburg, Virginia. Webb has previously served as News Director for five years and has a long history with WHSV since 2000. He succeeds Sacha Purciful, who has transitioned to General Manager of KSLA News12 in Louisiana. Gray operates TV stations in 94 markets, reaching about 24% of US households and ranked first in 69 markets.
Gray Television (GTN) reported its Q2 2020 financial results, revealing a revenue drop to $451 million, an 11% decline from Q2 2019. The company experienced a net loss of $2 million, or ($0.02) per share. Broadcast Cash Flow fell 34% to $123 million, while Adjusted EBITDA decreased 36% to $108 million. Political advertising revenue surged by 320% to $21 million. Gray increased cash reserves by $167 million and repurchased $49 million of stock, maintaining a total cash balance of $379 million. Despite challenges posed by COVID-19, there are signs of recovery, particularly in viewership and retransmission revenue.
Gray Television, Inc. (NYSE: GTN) will release its earnings results for the quarter ending June 30, 2020, on August 6, 2020. A conference call to discuss these results will also take place on the same day at 10:00 a.m. ET, with a live dial-in number available for participants. Gray Television operates in 93 television markets, reaching about 24% of U.S. television households. In 2019, their stations ranked first in 68 markets, demonstrating strong audience engagement.
Gray Television, Inc. (GTN) announced the promotions of Lori Bruffett to General Manager of KBTX in Texas, effective June 1, 2020, and Scott Sanders to General Manager of WMBF in South Carolina, effective June 29, 2020. Bruffett has a long tenure at KBTX since 1988, while Sanders brings 12 years of experience as Director of Sales at WIS. Gray operates in 93 markets, reaching about 24% of US households, ranking first in 68 markets as per Comscore.
Gray Television (NYSE: GTN) announced on May 13, 2020, that 21 of its local stations received a total of 49 regional Edward R. Murrow awards for excellence in journalism, including two prestigious awards for Overall Excellence. Notably, WVLT in Knoxville and KFVS in Paducah-Cape Girardeau were recognized with these honors. Additionally, WVUE in New Orleans secured top awards in eight categories. Gray's achievements reflect a strong commitment to quality local journalism, significantly impacting the communities served. The winners will proceed to the national competition with results to be announced in June.
Gray Television (NYSE: GTN) announced new General Managers for its stations in Huntsville, Colorado Springs, Hattiesburg, and Meridian during May 2020. This marks the ninth General Manager appointment in 2020, with all selected from within the company. Notable promotions include Jama Killingsworth at WAFF in Huntsville, Kerri Blanco at KKTV in Colorado Springs, Tim Walker at WDAM in Hattiesburg, and Jacque Harms at WTOK in Meridian. These appointments reflect Gray's focus on leadership development and strengthening community ties.
Gray Television reported Q1 2020 revenues of $534 million, a 3% increase from Q1 2019, despite a decline in advertising demand due to COVID-19. Local broadcast revenue was $250 million, and political advertising revenue surged to $36 million. The company achieved a net income of $40 million, or $0.40 per diluted share. Broadcast cash flow rose by 47% to $181 million. Challenges included reduced advertising demand and programming supply, but increased local newscast viewership was noted. Guidance for future quarters has been withdrawn due to uncertainty.
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