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, 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.
Gray Television, Inc. (NYSE: GTN) appointed Chris Fedele as the new General Manager of WPTA-TV and WISE-TV in Ft. Wayne, Indiana, effective June 1, 2022. Fedele, a Northeast Indiana native, returns to WPTA-TV after a notable career, including previous roles as General Sales Manager and a decade as Director of Sales and Marketing for WLEX-TV in Kentucky. Gray Television is the largest owner of local television stations in the U.S., operating in 113 markets and covering approximately 36% of U.S. households.
Gray Television has announced a long-term agreement with NBCUniversal to lease and operate new production facilities at the Assembly Atlanta development in Georgia. The state-of-the-art studios are expected to create over 4,000 jobs in the local area, supporting both construction and production activities. The facility will feature multiple soundstages and production spaces, with construction projected to be completed by late 2023. The capital expenditure for this project is estimated between $130 million and $140 million for 2022.
Gray Television (NYSE: GTN) announced that its local stations received a record 69 regional Edward R. Murrow awards from the Radio Television Digital News Association. Notable winners included WVUE in New Orleans, securing 11 awards, and WMTV in Madison, with 7 awards. Four stations achieved Overall Excellence, and WVUE dominated with five Investigative awards. Gray’s chairman expressed pride in the recognition for excellence across diverse markets. The winners will advance to the national competition, with results to be announced later this year.
On May 26, 2022, InvestigateTV, owned by Gray Television (NYSE: GTN), announced the addition of two esteemed investigative reporters: Joce Sterman and Caresse Jackman. Sterman, an Emmy and Murrow award winner with over 20 years of experience, previously served as the lead National Investigative Correspondent for Spotlight on America. Jackman has been recognized for her reporting excellence at WSMV4, covering significant events such as Hurricane Katrina and the Flint Water Crisis. This expansion aims to enhance community-focused investigative journalism.
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.