Gray Television, Inc. Stock Price, News & Analysis

Gray Television, Inc. (NYSE: GTN) announced the addition of Jennifer Rigby to its in-house news research and consulting team. Rigby, with nearly 40 years in the news industry, previously served as News Director at WXIA in Atlanta and holds accolades for high-quality journalism, including a duPont Columbia Award in 2023. This strategic move is part of Gray’s transition to a leading research and consulting group designed to enhance local news services through innovative models and high-frequency insights. The team, led by Chris Archer, is expected to set new standards for success in the industry.

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 is set to be paid on March 31, 2023, to shareholders on record as of March 15, 2023. As the largest owner of local television stations in the U.S., Gray operates in 113 markets and reaches approximately 36% of U.S. TV households. They have a significant presence in top-rated television stations, claiming 79 markets with the leading station and 101 with the first or second highest rated stations in 2022.

Gray Television reported strong fourth quarter 2022 results with $1.1 billion in total revenue, a 49% increase year-over-year, driven mainly by political advertising revenue soaring to $255 million, up 1175%. Full-year revenue reached $3.7 billion, marking a 52% increase. The company returned $174 million to shareholders, including $20 million in dividends. Looking ahead, Gray anticipates flat revenues amid potential macroeconomic challenges and expects retransmission revenue to rise by 10%-11% in Q1 2023. Recent initiatives include a $300 million securitization facility and interest rate caps to manage debt costs.

Gray Television (NYSE: GTN) announced a significant station swap with Marquee Broadcasting. Gray will sell KNIN, its Fox affiliate in Boise, Idaho, while acquiring WPGA, a MeTV affiliate in Macon, Georgia. This move allows Gray to maintain a full-power television presence in Georgia. The transactions are expected to close in the second quarter of 2023 upon regulatory approval. Gray operates the largest portfolio of local television stations in the U.S., reaching approximately 36 percent of U.S. households, with a strong showing in top-rated markets.

Gray Television, Inc. (NYSE: GTN) has announced leadership changes effective February 13, 2023. Robby Thomas will lead WIS (NBC) in Columbia, South Carolina, following a successful tenure at WTVY/WRGX in Dothan, Alabama. With 19 years in content and marketing, Thomas's experience includes award-winning roles in local media and marketing leadership. Valerie Russell is appointed General Manager of WTVY/WRGX, transitioning from General Sales Manager where she achieved new sales records. Russell has 18 years of media sales experience, emphasizing digital revenue growth. Gray is a multimedia company, owning the largest portfolio of local television stations in the U.S.

Gray Television, Inc. (NYSE: GTN) will disclose its earnings results for the quarter ending December 31, 2022, on February 24, 2023. A conference call will follow at 11:00 a.m. ET to discuss these operating results. Investors can join the call via 1-800-285-6670 or via webcast at www.gray.tv. Gray Television is the largest owner of local television stations in the U.S., reaching approximately 36% of television households across 113 markets.

Gray Television, Inc. (NYSE: GTN) announced that Debra Alfarone will join as anchor for Local News Live and national correspondent starting January 23, 2023. Alfarone will provide daily updates on Gray's 24/7 streaming news platform and lead special programming and live event coverage. She will also contribute feature stories and interviews from the Washington DC news bureau. With extensive experience from CBS Network and other major outlets, her addition aims to enhance local coverage of national news. Gray, headquartered in Atlanta, is the largest owner of local television stations in the U.S., reaching approximately 36% of television households.

Gray Television (NYSE: GTN) announced that Al Lancaster, General Manager of WSAW in Wausau, Wisconsin, will retire in March 2023 after nearly 45 years in broadcasting. He has led the station for 23 years. Betsy Keefe, currently General Sales Manager, will succeed him on March 20, 2023. Betsy has been with WSAW for a decade and has previously served as Director of Government Affairs for the Wausau Region Chamber of Commerce. Gray Television is the largest owner of local television stations in the U.S., reaching approximately 36% of U.S. households.

Gray Television, Inc. announced promotions within its management team. Collin Gaston has been elevated to Senior Vice President overseeing markets in the South, Texas, and Colorado. He has extensive experience, with a 30-year background in broadcasting. Jason Mathews, previously General Sales Manager at WBRC, will take over as the station's new General Manager. Gray Television is a leading multimedia company, owning numerous local TV stations across the U.S., reaching approximately 36% of U.S. households.