Gray Television Inc Stock Price, News & Analysis

Gray Television, Inc. (NYSE: GTN) will announce its earnings for the quarter ending March 31, 2023, on May 5, 2023. An earnings conference call will be held at 11:00 a.m. Eastern Time on the same day, with a live dial-in number of 1-800-285-6670. The call will also be available for live streaming and replay on www.gray.tv. Gray Television is the largest owner of local television stations in the U.S., reaching approximately 36% of U.S. households through its extensive portfolio that includes top-rated stations in major markets. The company is headquartered in Atlanta, Georgia, and operates in various multimedia sectors, including video programming and production facilities.

Gray Television has appointed Blanca Esparza Pap and Micheal Smith as Assistant Vice Presidents of Gray Media Group, effective April 1, 2023. Esparza Pap, previously the Station Manager for Arizona’s Family 3TV, has extensive experience in community relations and marketing. Smith, who was the first Station Manager for PeachtreeTV, brings over 25 years of experience in broadcast management and marketing. Gray Television continues to expand its leadership team to enhance its local programming capabilities in Atlanta and other markets, further solidifying its position as the nation’s largest owner of local television stations.

Gray Television has announced the promotion of five Senior Vice Presidents to the new role of Senior Managing Vice President, effective immediately. The individuals promoted are Sandy Breland, Ronna Corrente, Colin Gaston, Matt Jaquint, and Mike King. This recognition highlights their leadership and contributions to Gray's television stations and digital businesses. Gray Television is the largest owner of local TV stations in the U.S., operating in 113 markets that reach about 36% of U.S. TV households. The company's portfolio features 79 top-rated stations and includes video program companies and production facilities.

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.