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 Media (NYSE: GTN) has expanded its Local News Live afternoon newscast to 37 additional local television stations, reaching over 19 million households across 46 television markets. The one-hour program, which airs weekdays at 2:00 p.m. (ET), features top stories from local journalists across Gray's 113 markets.
Anchored by Debra Alfarone, the program includes live breaking news coverage, a solutions-based segment called 'The Good Side,' and contributions from Gray's Washington DC Bureau and New York City correspondents. The program focuses on delivering national and international stories through a local perspective.
Local News Live, launched in February 2021 as a national free ad-supported streaming (FAST) news network, will continue to be available on over 500 Gray station websites, connected TV apps, and mobile apps. The service can be accessed through dedicated apps on Roku, Amazon Fire, Apple TV, iOS, and Android streaming devices.
The Federal Communications Commission (FCC) has granted Gray Media approval to acquire KXLT-TV (FOX) in the Rochester, Minnesota television market, where it already owns KTTC-TV (NBC). This marks the first FCC approval of a new combination of two full-power, top-four ranked, same-market television stations in over five years.
The FCC's Media Bureau granted a waiver of local ownership rules and issued their decision just two months after the application submission - reportedly the fastest processing time for a duopoly waiver in Commission history. Gray plans to combine the resources of both stations to enhance viewer service in the Rochester market.
Gray Media (NYSE: GTN) has announced an expansion of its Atlanta Braves Spring Training broadcast coverage, offering Spanish-language broadcasts for the first time across its 21 Telemundo Affiliate Stations in the Southeast. The initiative includes two games in March 2025: Minnesota on March 15 at 6:05pm and Detroit on March 22 at 1:05pm.
This Spanish-language coverage is part of Gray Media's exclusive rights to broadcast ten Atlanta Braves Spring Training games in 2025. The broadcasts will reach viewers across Telemundo stations in Georgia, Alabama, Tennessee, South Carolina, and Mississippi, expanding the Braves' reach to Spanish-speaking audiences throughout the region.
Gray Media and the St. Louis Cardinals have announced a significant broadcasting partnership to air at least ten baseball games on free, over-the-air television across eight states. The games will be simulcast with FanDuel Sports Network through KMOV and Matrix Midwest in St. Louis, reaching approximately 7.5 million television households.
The partnership marks the first time since 2010 that Cardinals games will be televised locally on free, over-the-air channels as part of a non-national broadcast. The coverage begins April 11, 2025, with the Cardinals hosting the Philadelphia Phillies at Busch Stadium. The broadcast schedule includes games against the Milwaukee Brewers, Kansas City Royals, Texas Rangers, Los Angeles Dodgers, and Cincinnati Reds.
The coverage will extend across multiple Gray-owned stations in markets including Cape Girardeau, Springfield, Memphis, Jonesboro, Rockford, Peoria, Quincy, Evansville, Sioux City, Cedar Rapids, Ottumwa, Davenport, and Rochester/Mason City.
Gray Media (NYSE: GTN) has appointed Ellenann Yelverton as its General Counsel. Yelverton, who previously served as Deputy General Counsel since the Gray/Raycom Media merger in 2019, brings extensive experience in managing legal matters across various disciplines and acquisitions of television stations.
Gray Media stands as the nation's largest owner of top-rated local television stations, operating in 113 television markets reaching approximately 37% of US television households. The company's portfolio includes 78 markets with top-rated stations and 99 markets with first or second-highest rated stations in 2024. Additionally, Gray owns the largest Telemundo Affiliate group spanning 44 markets, along with Gray Digital Media, Raycom Sports, Tupelo Media Group, PowerNation Studios, and production facilities Assembly Atlanta and Third Rail Studios.
Gray Media (NYSE: GTN) has partnered with the Memphis Grizzlies and FanDuel Sports Network to simulcast five upcoming Grizzlies games across Tennessee's three largest markets. The games will be broadcast free, over-the-air in Memphis, Nashville, and Knoxville from March 12th to April 13th, 2025.
The broadcasts will be available on WMC-TV in Memphis, WSMV-TV in Nashville, and WBXX/MyVLT in Knoxville. The coverage includes the FanDuel Sports Network broadcast team and Grizzlies LIVE pre and post-game shows. The Grizzlies, currently second in the NBA's Western Conference and fourth overall, will feature stars Ja Morant, Jaren Jackson Jr., and Desmond Bane.
Gray Media (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 March 31, 2025, to shareholders who are on record as of the close of business on March 14, 2025. This dividend announcement follows the Board of Directors' authorization.
Gray Media (NYSE: GTN) reported strong Q4 2024 financial results, with total revenue reaching $1.0 billion, up 21% year-over-year. The company achieved $497 million in political advertising revenue for full-year 2024, leading among peers. Q4 highlights include:
- Net income of $156 million, compared to a $22 million loss in Q4 2023
- Political advertising revenue increased 658% to $250 million
- Core advertising revenue decreased 8% to $380 million
- Retransmission consent revenue slightly declined 1% to $361 million
The company reduced its debt by $520 million in 2024 and maintained strong financial metrics with First Lien Leverage Ratio at 2.97x and total Leverage Ratio at 5.49x. For Q1 2025, Gray expects core advertising revenue to decline 7-8%, partly due to Super Bowl broadcasting changes and one less selling day.
Gray Media (NYSE: GTN) has appointed Blake Sebo as the new General Manager of KTUU and KYES, their NBC and CBS affiliates in Anchorage, Alaska. Sebo brings nearly twenty years of broadcast television experience, most recently serving as Sales Manager at KHBS/KHOG-TV in Fort Smith-Fayetteville, Arkansas, where he led the team to their first #1 audited finish.
Previously, Sebo spent thirteen years as Marketing and Research Director at KFSM-TV in Fort Smith, helping achieve #1 position in ratings and revenue. He is a University of Arkansas at Fort Smith graduate with board experience at March of Dimes and Northwest Arkansas Food Bank.
Gray Media operates as the nation's largest owner of top-rated local television stations, reaching approximately 37% of US television households across 113 markets. The company holds the top-rated station in 78 markets and first/second highest-rated stations in 99 markets during 2024.
Gray Media and the Atlanta Dream have renewed their broadcast partnership for the 2025 WNBA season. Through this partnership, all Dream non-national exclusive games will be available on Peachtree TV through free over-the-air broadcasts and major cable providers. The Dream has seen significant growth, with a full-season 20 game sell-out last season and broadcast numbers increasing 10x from previous seasons.
Peachtree Sports Network will simulcast games and additional Dream-related programming across multiple Georgia cities. Gray Media, based in Atlanta, has extensive sports broadcasting partnerships, including agreements with various professional teams across different leagues. The company reaches approximately 36% of US television households through its 113 television markets.
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