Gray Television Inc Stock Price, News & Analysis

Gray Television has appointed Ron Bartholomew as the new General Manager of WNDU, the NBC affiliate in South Bend, Indiana, effective June 6. Bartholomew brings over 20 years of experience in media and sales, including leadership roles at CBS stations in New Orleans and Tampa Bay, and has been the director of sales at WMC Television in Memphis for the past three years. He succeeds John O’Brien, who moved to manage WAVE3 in Louisville. Gray Television is the largest owner of local TV stations in the U.S., reaching approximately 36% of U.S. households.

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 June 30, 2022, to shareholders on record as of June 15, 2022. As the largest owner of local television stations in the U.S., Gray reaches approximately 36% of television households through its extensive portfolio of over 113 stations across 80 markets with top-rated programming.

Gray Television, Inc. (GTN) reported strong Q1 2022 results with total revenues of $827 million, a 52% increase from Q1 2021. Core advertising revenue rose 40%, retransmission consent revenue increased 59%, and political advertising surged 189%. Net income rose 88% to $49 million or $0.52 per share. Broadcast Cash Flow increased 61% to $271 million. Despite Transaction Related Expenses of $8 million, adjusted EBITDA also climbed 64% to $251 million. The company anticipates continued revenue growth in Q2 2022, projecting total revenue between $846 million to $864 million.

Gray Television has secured a new agreement with Telemundo Network Group, extending affiliations across 12 existing markets and enabling launches in 22 new markets. This move will enhance Gray's operations to provide Telemundo programming to a total of 34 markets with over 3.75 million Hispanic viewers. Notably, the new 'Telemundo Georgia' network will serve several cities in Georgia, prioritizing local content and news aimed at underserved Hispanic communities. The strategic expansion aligns with significant Hispanic growth in the Southern U.S. over the past decade.

Gray Television has received the First Place National Headliner Award for its investigative report, Collision Division, which highlights federal crash standards that favor men over women. The investigation showed that only one out of three main safety tests incorporates female crash test dummies, despite the higher risk of injury for women. This report prompted lawmakers to act, leading to a congressional provision for a thorough investigation of crash-testing protocols. Gray Television's commitment to impactful journalism continues to drive change in safety regulations.

Gray Television (GTN) has been recognized as five of its stations were selected as finalists for the Service to America Awards by the National Association of Broadcasters Leadership Foundation.

The awards celebrate community service by local broadcasters, with winners announced at a gala on June 7, 2022. Notably, all finalists in the Medium Market category are Gray Television stations, showcasing its leadership in quality journalism and commitment to improving local communities.

Gray Television has appointed John O’Brien as the new General Manager of WAVE3, the NBC affiliate in Louisville, Kentucky, effective April 25, 2022. O’Brien previously served as General Manager at Gray's WNDU in South Bend, Indiana, for 14 years, where he significantly expanded local news programming and earned accolades such as the Indiana Broadcasters Association's 'Station of the Year.' O’Brien replaces Ronna Corrente, recently promoted to Senior Vice President-Local Media.

Gray Television (NYSE: GTN) has successfully acquired WKTB-CD, enhancing its reach in the Atlanta market with over one million viewers, primarily targeting Spanish and Korean audiences. The acquisition also includes Surge Digital Media, a digital marketing agency specializing in multicultural marketing. Susan Sim Oh has been appointed as Vice President of Strategy and Operations for the Telemundo Station Group, while Coline Sim takes on the role of Director of Telemundo Atlanta Operations. This acquisition expands Gray's operations across 12 markets, enhancing its leadership in local broadcasting.

Gray Television, Inc. (NYSE: GTN) will announce its earnings results for Q1 2022 on May 6, 2022. The earnings conference call is scheduled for the same day at 11:00 a.m. ET, accessible via phone at 1-855-493-3489 (confirmation code: 8298523) and online at www.gray.tv. Gray Television is the largest owner of local television stations in the U.S., serving 113 markets and reaching approximately 36% of U.S. households.