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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 Media (NYSE: GTN) announced the retirement of three veteran General Managers: Kelly Landeen from WAGM in Presque Isle, Maine; Neil Middleton from WYMT in Hazard, Kentucky; and Roger Brokke from WIBW in Topeka, Kansas. Each leader has made significant contributions to their respective stations and communities. Landeen led WAGM to achieve the highest-rated 6pm newscast nationally, Middleton helped establish the Mountain Classic scholarship program raising nearly $5 million for local students, and Brokke guided WIBW to win Kansas Association of Broadcasters' Station of the Year for 11 consecutive years.
Gray Television (NYSE: GTN) has declared a quarterly cash dividend of $0.08 per share for both its common stock and Class A common stock. The dividend will be paid on December 31, 2024, to shareholders recorded as of December 13, 2024. This announcement follows the Board of Directors' authorization of the quarterly payment.
Gray Television (GTN) reported strong Q3 2024 financial results with total revenue of $950 million, up 18% year-over-year. Key highlights include political advertising revenue of $173 million (565% increase), core advertising revenue of $365 million (1% increase), and retransmission consent revenue of $369 million (2% decrease). The company projects full-year 2024 political advertising revenue of $500 million and Net Debt reduction of $500 million. Gray implemented cost containment initiatives expected to reduce operating expenses by $60 million annually. Through September 2024, the company reduced debt principal by $241 million and maintains $674 million in borrowing availability.
Gray Media (NYSE: GTN) has announced its comprehensive election night coverage plans through Local News Live, its 24/7 news network. The coverage will begin at 7 p.m. EST on November 5th, streaming across multiple platforms including Roku, Amazon Fire, Apple TV, iOS, and Android devices. The coverage will feature anchors broadcasting from Washington, D.C., with live reporters across 113 markets and special correspondents at campaign headquarters. Local News Live will have reporters stationed in all seven battleground states and will provide real-time updates on the presidential race and other major races. The coverage will be available through the new Local News Live apps, which are free to download.
Gray Media (NYSE: GTN) has announced the release of a new National Anthem rendition, set to air across all Gray television stations starting October 15, 2024. The video features a youth orchestra and a soloist who is a Gray Media employee, recorded at the company's Assembly Studios in Atlanta. This initiative aims to honor the tradition of broadcasting the National Anthem daily while showcasing young talent.
The project involves several Gray Media companies, including Swirl Films as co-producer. The performance includes vocalist Sydney Jack, Operations Coordinator at Assembly Studios, and a youth orchestra from Metro Atlanta. Gray Media, which revived the daily National Anthem broadcast tradition in 2019, sees this new rendition as a way to celebrate both national unity and local communities.
Gray Media, formerly Gray Television, Inc., is the largest owner of top-rated local television stations and digital assets in the US, reaching approximately 36% of US television households across 113 markets.
Gray Media (NYSE: GTN) has announced the release date for its third quarter 2024 earnings results. The company will disclose its financial performance for the quarter ended September 30, 2024, on Friday, November 8, 2024. Gray Media will host an earnings conference call on the same day at 11:00 a.m. Eastern Time to discuss the operating results.
Interested parties can access the call via the live dial-in number 1-800-285-6670 or watch the webcast live at www.graymedia.com. A taped replay will be available until December 8, 2024, at 1-888-556-3470 with passcode 898476#.
Gray Media, headquartered in Atlanta, Georgia, is the largest owner of top-rated local television stations and digital assets in the United States, reaching approximately 36 percent of US television households across 113 markets.
Gray Media (NYSE: GTN) announced the retirements of two veteran broadcasters. Laura Long, General Manager of KNOE in Monroe, Louisiana, will retire on October 4, 2024. Rick Dean, General Manager of KXII in Sherman, Texas, will retire on December 31, 2024.
Long's 35-year career included roles at CBS and KNOE, where she led the station to numerous awards and maintained its #1 position in the Monroe/El Dorado market. Dean's 45-year career began in radio before joining KXII-TV in 1985, where he rose to General Manager in 2002. Under his leadership, KXII won multiple broadcasting awards.
Gray's COO, Sandy Breland, praised both executives for their leadership and commitment to excellence. The company will search for well-qualified successors to lead these legacy television stations.
Gray Media (NYSE: GTN) announced that its local television stations have raised over $290,000 for Hurricane Helene relief efforts, with the company contributing an additional $50,000. The funds will provide immediate aid and long-term assistance to residents affected by the storm, which claimed over 200 lives across six states.
Donations can be made at HeleneHelp.org, with 100% going to The Salvation Army's disaster relief efforts. The organization has already served more than 150,000 meals to survivors from 68 active mobile feeding units in six states, along with providing cleanup kits, hygiene products, and spiritual support.
Gray Media, the largest owner of top-rated local television stations in the US, reaches approximately 36% of US television households across 113 markets. The company also owns digital assets, video production companies, and studio facilities.
Gray Media (NYSE: GTN) and the Chicago Sports Network (CHSN) have announced a partnership to bring Chicago Bulls, Blackhawks, and White Sox games free over-the-air to viewers in Rockford, IL and South Bend, IN. Starting next month, Gray's television stations will carry CHSN, reaching over 500,000 households in these markets.
In Rockford, CHSN will air on WSLN channel 19.3, with overflow on 19.4. In South Bend, it will be on WNDU channel 16.2, with overflow on 16.4. The network will broadcast regular season games, select pre-season games, playoff matchups, pre- and post-game shows, and 24/7 multisport programming from studios in Chicago's United Center and Guaranteed Rate Field.
This partnership aims to expand the reach of Chicago sports teams to fans outside the city proper, providing more viewing options for supporters in these areas.
Gray Media has announced a groundbreaking media rights deal with the New Orleans Pelicans, launching the Gulf Coast Sports & Entertainment Network. This partnership will broadcast every non-national Pelicans NBA game free over-the-air to 4.1 million households across multiple states, increasing the team's reach by 16 times compared to their previous distribution arrangement.
The network will be anchored by Gray's New Orleans television station WVUE and will be available through Gray's stations in Louisiana, Mississippi, and Alabama. This move aims to make Pelicans games more accessible to fans, with games available free over-the-air or through basic cable, satellite, and streaming providers.
WVUE will air at least eight regular season games and all available post-season games, with the remaining games airing on the Gulf Coast Sports & Entertainment Network. The first game is scheduled for October 23rd at 7 p.m. against the Chicago Bulls.
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