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 multimedia company headquartered in Atlanta, Georgia and described as the nation’s largest owner of top-rated local television stations and digital assets. Its stations serve 113 television markets reaching a substantial share of U.S. television households, and many of these stations hold top audience rankings in their markets. This news page focuses on developments affecting Gray’s broadcasting, digital media, and financing activities.
News about Gray Media often includes earnings announcements and details about upcoming earnings conference calls, where the company discusses operating results for recent quarters. Investors and analysts follow these updates to understand trends in Gray’s television and digital operations. The company also issues news about dividend declarations, such as Board-authorized quarterly cash dividends on its common and Class A common stock.
Gray’s news flow also covers network affiliation agreements and content partnerships. For example, the company has announced a multi-year renewal of its NBC affiliation agreements in 54 markets, as well as arrangements to broadcast Ohio Valley Conference basketball and to simulcast Memphis Grizzlies games free over-the-air across multiple markets. These items highlight programming and sports content that run across Gray’s station group.
Additional news items may describe acquisitions of local stations, such as the agreement to acquire WBBJ 7 in Jackson, Tennessee, and capital markets transactions like offerings of senior secured notes and related redemptions of existing debt. Updates on leadership appointments, including roles such as investor relations and station general managers, also appear in Gray’s press releases. This page brings together these types of company-specific developments for readers tracking GTN-related news.
Gray Television (NYSE: GTN) announced the launch of the Gray Media Training Center internship program in collaboration with WLBT in Jackson, Mississippi. The inaugural class features 10 students from Mississippi colleges, focusing on enhancing diversity in media. The 14-week program, commencing in late August, will provide training in broadcast and digital journalism, production, sales, and IT. Gray has committed over $1 million towards this initiative, aiming to equip students with essential skills for the evolving media landscape.
Gray Television announced the appointment of Michelle Robinson Harper as General Manager of WBTV (CBS) in Charlotte, effective September 6, 2022. Harper brings over 37 years of experience in broadcast media, previously serving as General Manager of WHBQ-TV in Memphis. Additionally, Shelly Hill Crawford has been promoted to the newly created position of WBTV Station Manager, effective July 20, 2022. Crawford has a 22-year history with WBTV, holding various roles.
Gray Television operates the largest number of local TV stations in the U.S., reaching approximately 36% of U.S. households.
Gray Television (GTN) has declared a quarterly cash dividend of $0.08 per share for its common and Class A common stock. The dividend will be payable on September 30, 2022, to shareholders on record by September 15, 2022. Gray Television is the largest owner of local television stations in the U.S., serving 113 television markets and reaching approximately 36% of U.S. households. The company also owns video program companies and several studio facilities across the nation.
Gray Television, Inc. (GTN) reported strong financial results for Q2 2022, with total revenue of $868 million, up 59% from Q2 2021. Net income soared by 231% to $86 million, or $0.91 per share. Fueled by recent acquisitions and political advertising, cash flow was robust, allowing the company to return $125 million to shareholders through debt repayment, stock repurchase, and dividends. Political revenue is projected to match $652 million for the year. As of June 30, 2022, total leverage ratio was 5.16 times, and Gray ended the quarter with $162 million in cash.
Gray Television has announced management streamlining as of August 1, 2022, promoting General Managers to Regional Vice Presidents overseeing additional stations. Key promotions include Ted Fortenberry overseeing WLBT and nearby stations, Corey Hanson managing multiple Oregon and Alaska outlets, and Jasmine Hatcher Hardin adding Kentucky and Indiana stations to her responsibilities. This reorganization follows the resignation of Tim Ingram, Senior Vice President, Local Media, who left to pursue other opportunities. Gray operates the largest network of local television stations in the U.S., covering 36% of TV households.
Gray Television has announced the promotion of David Herrmann to General Manager of KWCH (CBS) and KSCW (CW) in Wichita, Kansas, effective August 2, 2022. Herrmann, a 32-year industry veteran, was previously the Director of Sales at KWCH and KSCW since 2017. Additionally, Patience Hettrick has been promoted from Station Manager/News Director to General Manager of WGGB-TV ABC 40 and WSHM-LD CBS 3 in Springfield, Massachusetts. This marks a strategic leadership enhancement for Gray as it continues to operate and dominate local markets, reaching approximately 36% of US television households.
Gray Television, Inc. (NYSE: GTN) will release its earnings results for Q2 2022 on August 5, 2022. The company will also host a conference call at 11:00 a.m. ET on the same day to discuss operating results. Interested parties can join the call using the dial-in number 1-800-289-0720, with a confirmation code of 7144937. A replay will be available until September 4, 2022. 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.
Gray Television, Inc. (NYSE: GTN) has appointed Brad Moses as the new General Manager of WTVG-TV (ABC) in Toledo, effective July 25th. Brad, a Toledo native, brings over 30 years of television experience, having previously worked at WTVG from 1994 to 2000. His most recent role was as General Manager of KWCH (CBS) and KSCW (CW) in Wichita, where he significantly expanded local news programming and won several prestigious awards. He succeeds Chris Fedele, who is now the GM of Gray's WPTA-TV and WISE-TV in Ft. Wayne, Indiana.
PowerNation Studios and Nashville Superspeedway are collaborating to host the inaugural POWER NATIONALS on September 3-4, 2022. This two-day event, aimed at car enthusiasts, will feature vehicle shows and competitions, including auto cross and drifting exhibitions. The event will culminate in a television special airing on September 17. PowerNation Studios, part of Gray Television (NYSE:GTN), produces popular automotive programs, while Nashville Superspeedway serves as a venue for various motorsports and entertainment events.
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) announces the premiere of its new series INSPIRED: Heroes of Change, airing June 4-5, 2022, on 100+ Gray Television stations. This pilot, hosted by Deuce McAllister and Kelsey Davis, features pro athletes like Warrick Dunn and Victor Cruz, highlighting their charitable initiatives aimed at assisting underserved youth. Olivia Steier from Hall of Fame Village Media states this collaboration with Tupelo Honey aims to deliver innovative, engaging content that conveys impactful stories.