Gray Television Inc Stock Price, News & Analysis

Gray Television has appointed John Fiorelli as the new General Manager/General Sales Manager of KOLO-TV in Reno, Nevada, effective immediately. Fiorelli brings over 20 years of media experience in the Reno market, having held various positions at KOLO-TV since 2006. He succeeds Matt Eldridge, who recently retired. Senior Vice President Nick Matesi praised Fiorelli's commitment to the station and the community. Gray Television, based in Atlanta, is the largest owner of local television stations in the U.S. and is set to become the second largest broadcaster after acquiring Meredith Corporation's stations.

IAC's Dotdash has announced an agreement to acquire Meredith Corporation's National Media Group for $42.18 per share in an all-cash transaction. This deal aims to combine Dotdash's digital publishing expertise with Meredith's iconic brand portfolio, creating one of the largest publishers in the U.S. The combined entity, named Dotdash Meredith, is expected to reach 175 million online consumers monthly. The transaction is anticipated to close by the end of the year, funded by a mix of cash and new debt, with both companies' boards approving the agreement.

Gray Television, Inc. (NYSE: GTN) will report its earnings for the quarter ending September 30, 2021, on November 4, 2021. The earnings conference call is scheduled for 11:00 a.m. ET on the same day, with a live dial-in at 1-855-493-3489 and a confirmation code of 8366927. Gray Television, based in Atlanta, is the largest owner of local television stations and digital assets in the U.S. Following the acquisitions of Quincy Media and Meredith Corporation's stations, Gray will become the second largest television broadcaster, reaching approximately 36% of U.S. TV households.

Gray Television (NYSE: GTN) announced the acquisition of Third Rail Studios in Doraville, Georgia, for $27.5 million. This facility, notable for producing popular shows like Ozark and films starring A-list actors, will enhance Gray's Assembly development, located at a former GM plant, aimed at establishing a major studio hub. The project, expected to further stimulate Georgia's media industry, is set to open its first phase by fall 2022. Additionally, Gray anticipates significant growth, preparing to become the second-largest local broadcaster in the U.S.

Gray Television announced the passing of Ed Woloszyn, General Manager of KEYC News Now, after a brief battle with cancer. Ed joined KEYC in 2016 and became GM in 2019, previously working at stations in Wisconsin, Illinois, and Michigan. His community involvement included roles in local organizations. Gray's Senior Vice President Mike King expressed deep sadness over Ed's loss, praising his dedication to colleagues and community. Gray Television, based in Atlanta, is set to become the second largest US broadcaster post-acquisition of Meredith Corporation's stations, reaching 36% of US households.

Gray Television (GTN) has partnered with the Salvation Army to raise funds for Hurricane Ida relief efforts. Following the storm's landfall on August 29, which devastated Louisiana, Gray's local news stations across 103 markets will support the 'Lift Up Louisiana' campaign. CEO Hilton H. Howell emphasized the importance of aiding affected communities and announced a $50,000 contribution from Gray. The campaign ensures that 100% of donations go directly to disaster relief, highlighting Gray's commitment to community support during crises.

Gray Television announced key management changes effective September 7, 2021. Ronna Corrente, currently General Manager of WVUE Fox 8 in New Orleans, will take over as General Manager of WAVE 3 in Louisville. Mikel Schaefer, current News Director at WVUE, will assume Corrente's role, succeeded by Kristen Palestina, the station's Assistant News Director. Corrente has a successful track record, including significant awards for her leadership. Gray Television continues to expand its influence, soon becoming the second-largest broadcaster in the U.S.

Gray Television has been recognized with eight National Edward R. Murrow Awards, highlighting its commitment to quality journalism. Notable achievements include WVUE in New Orleans winning an Investigative Reporting award for its series on the Hard Rock Hotel collapse and WRDW-TV in Augusta earning two awards for its coverage of an EMT shortage. Other notable winners include WVLT in Knoxville, Hawaii News Now, and WDBJ in Roanoke, which received awards for reports on resilience, COVID-19 responses, and national park care. The awards will be celebrated at the RTDNA Gala on October 27, 2021.