Gray Television Inc Stock Price, News & Analysis

Gray Television has appointed Rob Boenau as the new General Manager of KOLD (CBS) in Tucson, Arizona. Boenau brings over 20 years of marketing experience from his previous role as Marketing Director for Gray’s WOIO and WUAB in Cleveland, where he led successful brand launches and digital initiatives, including the introduction of Telemundo Cleveland. Gray Television, based in Atlanta, is the largest owner of local television stations in the U.S., operating in 113 markets and reaching about 36% of U.S. households.

Gray Television, Inc. (NYSE: GTN) announced the election of Lorri McClain as an independent Director, effective March 1, 2022. The Board voted to expand by one seat to accommodate her. McClain is the President of Reicon Management, Inc. and possesses substantial experience in the media sector, previously leading Prestige Communications. With her diverse background in both business and philanthropy, McClain aims to contribute valuable insights to Gray’s Board. CEO Hilton H. Howell, Jr. expressed enthusiasm for her appointment, highlighting the fresh perspective she brings.

Gray Television, Inc. has promoted Lisa Allen to Vice President and General Manager of Washington Operations. Effective immediately, she will oversee Gray's Capitol Hill operations, ensuring integration with newsrooms across the company. Allen has been with Gray since 2019 as Executive Producer of 'Full Court Press with Greta Van Susteren.' Gray's Washington operations include a news bureau, political analysis, and a team of investigative journalists. The company aims to enhance its political content and journalism quality under her leadership.

Gray Television, Inc. (GTN) reported its fourth-quarter 2021 revenues of $721 million, a 9% decline from the previous year, primarily due to a significant drop in political advertising revenue. However, the acquisition of Meredith's Local Media Group and Quincy Media positively impacted core revenue, with a 26% increase in local and national advertising. Full-year revenue reached $2.4 billion, marking an all-time high. Despite the growth, net income fell by 89% year-over-year to $38 million, primarily due to increased expenses related to acquisitions. The company plans to maintain a robust share repurchase program.

Gray Television (NYSE: GTN) has announced a quarterly cash dividend of $0.08 per share for both common and Class A common stock. This dividend is scheduled for payment on March 31, 2022, to shareholders on record as of March 15, 2022.

As the largest owner of local television stations in the U.S., Gray serves 113 markets, reaching approximately 36% of U.S. television households, including numerous top-rated stations.

Gray Television, Inc. (NYSE: GTN) has appointed Micheal Smith as the Station Manager for its independent station PeachtreeTV (WPCH-TV) in Atlanta. With over 25 years in broadcasting, Smith previously served as the marketing manager for WGCL CBS 46 and PeachtreeTV. His extensive experience in the Atlanta market is expected to enhance local programming. Erik Schrader, General Manager, expressed confidence in Smith’s ability to elevate PeachtreeTV and is enthusiastic about the new programming direction.

Gray Television has promoted Patience Hettrick to Station Manager of WGGB-TV ABC 40 and WSHM-LD CBS 3 in Springfield, Massachusetts, effective immediately. She has served as news director for both stations since March 2015 and retains that role in her new position. Hettrick has a significant background in broadcast news, having previously worked at WFSB CBS 3 in Hartford, Connecticut. She also teaches at Middlesex Community College and holds a Master’s degree in education from the University of Hartford.

Gray Television has announced the launch of a new syndicated television series titled BEAT THE ODDS, produced by Tupelo Honey in collaboration with KVVU FOX5 in Las Vegas. The pilot episode will air on February 11 across select stations, reaching about a quarter of US households. The show aims to blend sports betting analysis with entertaining storytelling, featuring renowned athletes and analysts. Michael Korr and Cary Glotzer serve as executive producers, making it an exciting addition to sports programming.

Gray Television has signed an agreement to acquire WKTB-CD from Capital Media Group, enhancing its presence in Atlanta’s competitive media landscape. The acquisition includes Surge Digital Media, known for multicultural marketing. Gray now boasts a reach of over one million viewers, targeting the fastest-growing minority groups in the area. With this deal, Gray strengthens its position in the sixth largest U.S. television market and will own Telemundo affiliates in 12 markets. The transaction is expected to close after receiving necessary approvals.