Gray Television Inc Stock Price, News & Analysis

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.

Gray Television has appointed Curtis Miles as the General Manager of KCTV (CBS) and KSMO (MyNetwork) in Kansas City, effective January 3, 2023. Miles has a proven track record in increasing ratings and revenues, most recently at WAOW in Wausau, where the station was named News Operation of the Year by the Wisconsin Broadcasters Association. Prior experience includes 13 years with Disney ABC O&O group, where he enhanced ratings at major stations like WLS-TV in Chicago.

Gray Television (NYSE: GTN) has renewed its agreements with The Walt Disney Company to extend ABC network affiliations for Gray's stations across 25 markets until December 31, 2024. President Pat LaPlatney expressed satisfaction with the long-term relationship, highlighting the commitment of ABC affiliates to serve their communities. Disney's EVP John Rouse praised the collaboration, emphasizing the importance of local programming alongside ABC's network offerings.

Gray Television has appointed Jaime Sayre Kawaja as the General Manager/General Sales Manager of WFLX Fox 29 in West Palm Beach, effective December 12, 2022. With 25 years of experience in sales and marketing, she previously served as the General Sales Manager at WKYT in Lexington, where she started her career. Kawaja holds a Bachelor of Science in Marketing/Management from the University of Kentucky and is actively involved in media and advertising organizations.

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 will be payable on December 30, 2022, to shareholders recorded by December 15, 2022. As the largest owner of local television stations in the U.S., Gray serves 113 television markets, reaching approximately 36% of U.S. households. This reflects confidence in sustaining shareholder returns amidst operational challenges.

Gray Television reported impressive financial results for Q3 2022, with a 417% increase in net income attributable to common stockholders, reaching $95 million. Total revenue soared to $909 million, a 51% increase year-over-year, driven by political advertising revenues of $144 million, which grew by 1500% compared to Q3 2021. Cash flow enabled $124 million in capital returns to shareholders. However, results fell short of prior expectations due to a pullback in key political races. The company anticipates $495 million to $505 million in full-year political advertising revenue.

Gray Television announced the launch of a new in-house division for news research and consulting services, effective January 1, 2023. This initiative aims to enhance access to strategic advice and local market research for all of its television stations, not just those in larger markets. Veteran journalist Chris Archer will lead this team as Vice President, while Tony Calfo will serve as Director of Research. This transition is expected to improve operational efficiencies and bolster Gray’s media strategy across its extensive station network.