Gray Television (GTN) Stock News

Gray Media has appointed David Hughes as the new General Manager of WFSB, its CBS affiliate in Hartford, Connecticut, effective July 9, 2025. Hughes, who currently serves as GM of Gray's Cleveland stations WOIO and WUAB, brings significant experience in media management and sports partnerships. During his tenure in Cleveland, he established the Rock Entertainment Sports Network and secured broadcast rights for major Ohio sports teams. His career includes leadership roles at various Gray stations and news departments across multiple markets. Gray Media (NYSE: GTN) is the largest owner of top-rated local TV stations in the US, reaching 37% of US television households across 113 markets, with dominant positions in 78 markets and strong presence in Hispanic media through 44 Telemundo affiliates.

Gray Media (NYSE: GTN) has appointed Shalayna Valencia as the new General Manager and Director of Sales for KOSA, their CBS affiliate station in Odessa, Texas. Valencia brings over 20 years of media industry experience, having previously served as Market President at Townsquare Media and Digital Sales Director at Hearst. She started her career as an Account Executive at KWES in Midland/Odessa. Gray Media is a leading multimedia company, owning the largest portfolio of top-rated local television stations and digital assets across 113 markets, reaching approximately 37% of US television households. The company maintains the top-rated station in 78 markets and first/second-highest rated stations in 99 markets as of 2024. Gray's portfolio includes the largest Telemundo Affiliate group spanning 44 markets, along with various media properties including Raycom Sports, Tupelo Media Group, PowerNation Studios, and production facilities.

Gray Media has extended its broadcast partnership with the New Orleans Saints through the 2029 NFL season. The agreement includes broadcasting rights for all three 2025 preseason games across Gray's 15-station Saints Pre-Season Network and Gulf Coast Sports and Entertainment Network (GCSEN). The partnership expands content offerings with new Saints-related programming, including live shows, documentaries, and podcasts. WVUE will produce five weekly Saints-related programs, while Gray Media will premiere an NFL Films documentary about new Head Coach Kellen Moore. The deal reinforces Gray Media's position as a major regional sports broadcaster, reaching approximately 37% of US television households across 113 markets.

Gray Media's WANF television station in Atlanta will end its 31-year CBS Network affiliation on August 15, 2025, to become an independent station. The transition aims to give WANF complete control over its programming schedule and expand its local news coverage. Since acquiring WANF in December 2021, Gray has invested significantly in the station, increasing weekly local newscast hours by 50% to 60 hours, creating the Southeast's largest weather team, and adding over 50 new jobs. The station has earned numerous prestigious awards and launched new initiatives including Peachtree Sports Network and Telemundo Atlanta. Gray expects this transition to help reduce leverage, improve its balance sheet, and enhance financial flexibility while following the successful model of other independent stations in markets like Phoenix, Jacksonville, and Boston.

CBS and Gray Media have announced the renewal of CBS network affiliations for 52 of Gray's existing 53 markets. The agreement ensures that the renewing CBS affiliates will maintain their availability to local subscribers on Paramount+ and across traditional and virtual MVPD platforms. However, Gray's Atlanta station WANF will end its CBS Network affiliation on August 16, 2025, transitioning to become an independent television station focused specifically on the Atlanta market. This strategic move represents a significant shift in Gray's broadcast portfolio while maintaining strong ties with CBS across the majority of its markets.

Gray Media (NYSE: GTN) has been awarded 81 regional Edward R. Murrow Awards for journalistic excellence across 38 of its local television stations. Notable achievements include four Overall Excellence awards to stations in Anchorage, Knoxville, Fort Wayne, and Madison. WMTV in Madison led with 9 awards, followed by WVUE in New Orleans with 8 awards. The recognition spans multiple categories including News Series (9 awards), Best Newscast (7 awards), Investigative Reporting (6 awards), Excellence in Innovation (6 awards), and several others. The regional winners will advance to the national competition, with results expected in August. Gray Media reaches approximately 37% of US television households across 113 markets, with leadership positions in 78 markets and strong presence in 99 markets.

Gray Media (NYSE: GTN) has announced key leadership changes in its Nebraska markets. Shannon Booth has been appointed as General Manager of WOWT (NBC) in Omaha, succeeding Jim McKernan, who is retiring after 44 years in broadcasting. Jacque Harms will take over Booth's previous role, managing KOLN (CBS), KSNB (NBC) in Lincoln, and KNOP (NBC) and KNPL (CBS) in North Platte.

Booth brings extensive experience from her eight-year tenure managing multiple market-leading television, digital, and streaming products in Nebraska, along with 18 years at KCRG in Cedar Rapids. Harms, returning to Nebraska with over 35 years of media experience, previously led WTOK to win Mississippi Association of Broadcasters Small Market Station of the Year in 2024.

Gray Media operates the nation's largest network of top-rated local television stations, reaching approximately 37% of US television households across 113 markets.

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 June 30, 2025, to shareholders who are recorded as stockholders as of the close of business on June 13, 2025.

Gray Media (NYSE: GTN) reported Q1 2025 financial results with total revenue of $782 million, down 5% year-over-year. Core advertising revenue decreased 8% to $344 million, while retransmission consent revenue fell 1% to $379 million. The company posted a net loss of $22 million compared to net income of $75 million in Q1 2024. Adjusted EBITDA declined to $160 million from $197 million. Notable achievements include reducing debt by $17 million and expanding credit facilities. The company increased its AR Facility commitments from $300M to $400M and Revolving Credit Facility from $680M to $700M. For Q2 2025, Gray expects core advertising revenue to decline by mid-single digits due to macroeconomic uncertainties, though digital advertising continues to show strong double-digit growth.