Welcome to our dedicated page for Gray Television news (Ticker: GTN), a resource for investors and traders seeking the latest updates and insights on Gray Television stock.
Gray Media Inc (NYSE: GTN) is a leading multimedia company specializing in local television broadcasting, digital marketing solutions, and content production. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and strategic initiatives shaping Gray Media's position in the evolving media landscape.
Access comprehensive coverage of earnings announcements, operational milestones, and regulatory filings alongside analysis of market trends affecting broadcast networks and digital advertising. Our curated news collection offers insights into Gray Media's station acquisitions, technology investments, and partnerships driving innovation in local journalism and multimedia services.
Key updates include:
• Financial Reporting: Quarterly results and annual reports
• Strategic Expansions: Market entries and station acquisitions
• Technology Initiatives: ATSC 3.0 deployment and digital platform enhancements
• Industry Leadership: Awards, recognitions, and regulatory developments
Bookmark this page for direct access to verified information from primary sources, including official press releases and SEC filings. Regularly updated to reflect Gray Media's latest business activities, this resource supports informed decision-making for stakeholders tracking the convergence of traditional broadcasting and digital media innovation.
A group of investors led by Seaport Capital and including Gray Television (NYSE: GTN) has announced the formation of Family Entertainment Holdings, LLC (FEH), which will focus on developing family-oriented live event formats. The investment aims to support the growth of existing shows such as Magic of Lights and Hot Wheels Monster Trucks Live. These events have significant growth potential and are already engaging audiences across North America. Ken Hudgens will serve as CEO of FEH, leveraging his experience in live events.
Gray Television has announced a multi-year agreement with ViacomCBS to renew its CBS network affiliations across 47 markets. This deal includes major affiliates like WOIO in Cleveland and WBTV in Charlotte, ensuring ongoing access to CBS programming on Paramount+ and vMVPD platforms. Gray's CBS affiliates cover 11% of the U.S. audience, serving approximately 13 million households. With its upcoming acquisition of Meredith Corporation's stations, Gray will expand to 55 markets, reaching 18% of U.S. households, solidifying its position as a leading CBS affiliate operator.
ViacomCBS (NASDAQ: VIAC, VIACA) and Gray Television (NYSE: GTN) announced a multi-year agreement to renew CBS network affiliations for all 47 Gray TV stations, including major markets like Cleveland and Charlotte. This renewal ensures CBS programming remains available on Paramount+ and various vMVPD platforms. With this agreement, Gray will cover approximately 11% of the U.S. audience, expanding to 18% upon the acquisition of Meredith Corporation's Local Media Group. Both companies commit to enhancing local content combined with CBS' premium programming.
Gray Television has appointed Greg McAlister as the new General Manager of KCBD (NBC) and KLCW (CW)
Gray Television (NYSE: GTN) has declared a quarterly cash dividend of $0.08 per share for both common and Class A common stock. This dividend will be distributed on December 31, 2021, to shareholders recorded at the close of business on December 15, 2021. Gray, the largest owner of local television stations in the U.S., is set to acquire Meredith Corporation's television stations, propelling it to the position of the second largest broadcaster nationally, reaching around 36% of U.S. television households.
Gray Television reported third-quarter 2021 results with total revenue of $601 million, unchanged from Q3 2020. Local and national advertising revenue was $292 million, while retransmission consent revenue reached $266 million, both exceeding expectations. However, the net loss attributable to common stockholders was $30 million, primarily due to $53 million in non-cash losses from divesting overlapping television stations. Adjusted EBITDA dropped 29% to $186 million, and Broadcast Cash Flow fell 25% to $204 million.
Gray Television, Inc. announced the pricing of a private offering for $1.3 billion in 5.375% senior notes due 2031, an increase of $175 million from prior announcements. The offering is set to close on November 9, 2021, pending customary conditions. Proceeds will fund Gray's merger with Meredith Corporation's local media group, expected to finalize in December 2021. The notes will be guaranteed by existing and future restricted subsidiaries. This offering will be available only to qualified institutional buyers and is not registered under the Securities Act.
Gray Television, Inc. (NYSE: GTN) announced plans to offer up to $1.125 billion in senior notes due 2031, subject to market conditions. The proceeds will finance the company's merger with Meredith Corporation, aiming to acquire its local media group. This offering is exempt from registration requirements under the Securities Act of 1933 and will be available only to qualified institutional buyers and non-U.S. persons. The notes will be guaranteed by future subsidiaries of Gray following the merger completion.
Gray Television (NYSE: GTN) announced plans to amend its Senior Credit Facility, proposing a $1.5 billion seven-year incremental term loan to finance its acquisition of Meredith Corporation's Local Media Group. Additionally, Gray aims to increase borrowing capacity from $300 million to up to $500 million. The third-quarter 2021 guidance has also been updated, with projected broadcasting revenue between $570 million and $593 million, representing a 2-4% decrease compared to Q3 2020. As of September 30, 2021, Gray expects $322 million in cash and $4.035 billion in total debt.
Gray Television has promoted Michele Gors to General Manager of KEYC News Now in Mankato, Minnesota, effective November 15, 2021. Gors, an Emmy Award-winning broadcast professional with over 30 years of experience, succeeds Ed Woloszyn, who recently passed away due to cancer. Previously, Gors served as News Director at KTTC in Rochester, Minnesota. Gray Television, headquartered in Atlanta, is the largest owner of local television stations in the U.S., and upon acquiring Meredith Corporation's television stations, will become the second-largest broadcaster in the nation.
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