Gray Television, Inc., a television broadcast company, owns and/or operates television stations and digital assets in the United States. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, Circle, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets. In addition, it is also involved in the video program production, marketing, and digital businesses, including Raycom Sports, Tupelo-Raycom, and RTM Studios; and production of Power Nation programs and content. It owns and operates television stations and digital properties in 94 television markets. The company was formerly known as Gray Communications Systems, Inc. and changed its name to Gray Television, Inc. in August 2002. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.
IPO Year:
Exchange: NYSE
Website: gray.tv
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 2/27/2024 | Outperform → Mkt Perform | Barrington Research | |
| 11/9/2022 | $25.00 → $7.00 | Overweight → Underweight | Wells Fargo |
| 3/7/2022 | $30.00 → $33.00 | Buy | Loop Capital |
| 2/28/2022 | $26.00 → $28.00 | Overweight | Wells Fargo |
| 1/3/2022 | $26.00 | Overweight | Wells Fargo |
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ATLANTA, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray," "Gray Media," the "Company," "we," "us" or "our") (NYSE:GTN) has completed a series of transactions that collectively reduced the Company's principal amount of debt outstanding by $278 million since October 1, 2024, bringing the Company's total principal debt reduction to $519 million since January 1, 2024. Accordingly, our Board of Directors today has authorized an increase in our previously announced debt repurchase authorization, replenishing the authorization to a total of $250 million of available liquidity to repurchase our outstanding indebtedness. We anticipate that the meaningful reduction in our outstandi
ATLANTA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced the retirements of three veteran broadcasters occurring this month. In Presque Isle, Maine, Kelly Landeen is retiring as the General Manager and Director of Sales of WAGM. In Hazard, Kentucky, Neil Middleton is retiring as the General Manager of WYMT. In Topeka, Kansas, Roger Brokke is retiring as the General Manager and Director of Sales of WIBW. Kelly Landeen started her media career in 1990 at WAGM in Presque Isle as an account executive. Over the years, Kelly was promoted through sales management to eventually become the General Manager and Director of Sales of WAGM in 2015. During her tenure in Presque
ATLANTA, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on December 31, 2024, to shareholders of record at the close of business on December 13, 2024. About Gray Television: We are a multimedia company headquartered in Atlanta, Georgia. We are the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 36 percent of US television households. The portfolio includes 77 markets with the top-rated t
ATLANTA, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray," "Gray Media," "we," "us" or "our") (NYSE:GTN) today announced a strong third quarter ended September 30, 2024. Gray also projected full-year 2024 political advertising revenue of $500 million, as well as full-year 2024 Net Debt reduction of $500 million. SUMMARY OF THIRD QUARTER RESULTS OPERATING HIGHLIGHTS: Total revenue in the third quarter of 2024 was $950 million, an increase of 18% from the third quarter of 2023.Core advertising revenue in the third quarter of 2024 was $365 million, an increase of 1% from the third quarter of 2023.Retransmission consent revenue in the third quarter of 2024 was $369 million, a
ATLANTA, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced comprehensive election night coverage plans on Local News Live, its 24/7 news network. Starting at 7 p.m. EST on November 5th, Local News Live will stream election coverage on Roku, Amazon Fire, Apple TV, iOS, and Android streaming devices. The Local News Live feed will also be carried on localnewslive.com and more than 500 Gray Media digital properties. Debra Alfarone, Rasheeda Kabba, Graham Ulkins, and Camila Rueda will anchor unmatched team coverage from Local News Live studios in Washington, D.C., with access to live reporters on the ground across 113 markets. Additionally, White House Correspond
ATLANTA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced that it will release its earnings results for the quarter ended September 30, 2024 on Friday, November 8, 2024. Earnings Conference Call Information Gray Media will host a conference call to discuss its operating results for the quarter ended September 30, 2024 on Friday, November 8, 2024. The call will begin at 11:00 a.m. Eastern Time. The live dial-in number is 1-800-285-6670. The call will be webcast live and available for replay at www.graymedia.com. The taped replay of the conference call will be available at 1-888-556-3470 Passcode: 898476# until December 8, 2024. About Gray Media: Gray Media, or Gr
Atlanta, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced that Local News Live, its 24/7 streaming news network, launched standalone apps for connected TVs and smartphones. These new apps are now available to download for free by searching "LNL" on Roku, Amazon Fire, Apple TV, iOS, and Android streaming devices. "Local News Live delivers a local perspective on national stories by tapping into the expertise of Gray journalists in 113 markets," Gray's Chief Operating Officer Sandy Breland said. "With this new streaming presence, our reach will expand to deliver that unmatched breaking news coverage and impactful information to a national audience." Local
ATLANTA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced the retirements of two veteran broadcasters. In Monroe, Louisiana, Laura Long is retiring as the General Manager of KNOE effective October 4, 2024. In Sherman, Texas, Rick Dean will retire as the General Manager of KXII effective December 31, 2024. Laura Long began her television career 35 years ago in Monroe, after earning a degree from the University Louisiana Monroe. She started at Cablevision in 1992 where she rose to General Sales Manager. In 1999, she was hired as Local Sales Manager at WUPL, the CBS O&O station in New Orleans, and then promoted to the role of General Sales Manager at WTOG in Tamp
ATLANTA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced that its local television stations have raised more than $290,000 for Hurricane Helene response efforts, and Gray itself will donate an additional $50,000 to the relief fund. The money raised will provide immediate aid as well as long-term assistance for residents impacted by the deadly storm system that took the lives of more than 200 people and left a path of destruction across six states. "We are truly grateful to our viewers for their overwhelming generosity and willingness to support their neighbors during this time of tremendous need," Gray's Chief Operating Officer Sandy Breland said. "O
Chicago, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) and the Chicago Sports Network (CHSN) announced that Gray's television stations in Rockford, Ill., and South Bend, Ind., will carry the Chicago Sports Network starting next month. This arrangement will bring Chicago Bulls, Blackhawks, and White Sox games and other related content free, over-the-air to more than 500,000 households in the two markets. In Rockford, CHSN will air on WSLN channel 19.3, with overflow on channel 19.4. In South Bend, CHSN will air on WNDU channel 16.2, with overflow on channel 16.4. The overflow channels will allow the stations to air two games simultaneously in the event of schedule conflic
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Barrington Research downgraded Gray Television from Outperform to Mkt Perform
Wells Fargo downgraded Gray Television from Overweight to Underweight and set a new price target of $7.00 from $25.00 previously
Loop Capital reiterated coverage of Gray Television with a rating of Buy and set a new price target of $33.00 from $30.00 previously
Wells Fargo reiterated coverage of Gray Television with a rating of Overweight and set a new price target of $28.00 from $26.00 previously
Wells Fargo resumed coverage of Gray Television with a rating of Overweight and set a new price target of $26.00
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ATLANTA, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Gray Television Inc. ("Gray," the "Company," "we," "us," or "our") (NYSE:GTN) announced today that Chief Financial Officer Jim Ryan has notified the Company of his voluntary decision to transition into retirement after 2025. Gray and Jim have agreed that he will remain with Gray as a Senior Advisor through his retirement to assist with a seamless transition of his duties. To succeed Jim as CFO, Gray announced the hiring of Jeff Gignac, who currently serves as a Managing Director and Head of Media & Telecom Investment Banking at Wells Fargo Securities. Jeff has worked closely with Jim and the Company as one of its lead bankers for the past sever
ATLANTA, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE:GTN) today announced its appointment of Liz Knight as the next General Manager of WALB and WGCW, the local NBC, ABC and CW affiliates, in Albany, Georgia. For the past five years, Liz Knight has served as the General Sales Manager at WALB-TV (NBC), WGCW (CW) and WTSG (Telemundo) in Albany, Georgia. Previously, she served as the stations' Local Sales Manager for nine years and Digital Sales Manager for one year. Prior to management at WALB she was an Account executive and has eighteen years of multimedia experience in Southwest Georgia. A native of Southwest Georgia, Liz grew up watching WALB-TV, which Gray put
ATLANTA, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE:GTN) today announced its appointment of Bruce Austin as the next General Manager of WVLT and WBXX, the local CBS and CW affiliates, in Knoxville, Tennessee. For the past five years, Bruce Austin has served as the General Manager at WALB-TV (NBC), WGCW (CW) and WTSG (Telemundo) in Albany, Georgia. Previously, he served as the stations' General Sales Manager for ten years. A native of Southwest Georgia, Bruce grew up watching WALB-TV, which Gray put on the air in 1954. Under his leadership, the operation expanded its local service and added additional local programming. In 2020, the Georgia Association of Broadc
ATLANTA, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Peachtree Sports Network, Gray Television's newest sports broadcast channel, will launch Sunday, October 1st on WPCH 17.2. The channel will focus on live, local sports programming all year long and will feature teams from multiple sports across the state. The broadcast network will launch in Atlanta but will soon air on Gray-owned over-the-air channels in Albany, Augusta, Columbus, Macon, and Savannah in the coming months. "As a lifelong sports fan, I know firsthand I became a fan by watching my local teams play on broadcast television," said WANF and WPCH Vice President and General Manager Erik Schrader. "While existing fans may follow
ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE:GTN) today announced that it has appointed Blanca Esparza Pap and Micheal Smith as Assistant Vice Presidents of Gray Media Group, Inc., effective April 1, 2023. Blanca Esparza Pap has served as the Station Manager for Arizona's Family 3TV (KTVK) and CBS5 (KPHO) in Phoenix, Arizona, since 2019. She first joined 3TV in 2005 as its Community and Public Relations Manager, and she later became the Director of Marketing for both 3TV and KPHO. Blanca is a graduate of Arizona State University's Walter Cronkite School of Journalism and Mass Communication. She graduated from the National Association of Broadcasters
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Event To Air At 7pm ET On Gray-Owned Local TV Stations Including Peachtree TV In Atlanta And Over Ninety Other Markets
Gray's KAUU And KYEX To Air Games; TEGNA Also Broadcasting Kraken Games On KING 5, KONG, KGW, KREM, And KSKN
During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the communication services sector. Sinclair, Inc. (NASDAQ:SBGI) Dividend Yield: 7.51% Wells Fargo analyst Stev
Gainers Lytus Technologies Hldgs (NASDAQ:LYT) shares moved upwards by 6.3% to $2.85 during Friday's after-market session. The company's market cap stands at $4.4 million. E W Scripps (NASDAQ:SSP) shares increased by 4.68% to $2.57. The market value of their outstanding shares is at $219.4 million. Urban One (NASDAQ:UONE) stock increased by 4.45% to $2.11. The company's market cap stands at $103.1 million. Asset Entities (NASDAQ:ASST) stock moved upwards by 4.36% to $0.45. The market value of their outstanding shares is at $6.7 million. AMC Enter Hldgs (NYSE:AMC) shares rose 3.09% to $4.99. The market value of their outstanding shares is at $1.4 billion. Gray Television (NYSE:GTN) stock
Gray Television, Inc. ("Gray," "we," "us" or "our") (NYSE:GTN) announced today that it intends to offer up to $1 billion aggregate principal amount of senior secured first lien notes due 2029, subject to market conditions. The offering will be exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). In connection with the offering of notes, Gray expects to (i) incur up to $750 million of a new tranche F term loan with a maturity date in 2029, (ii) increase the aggregate commitments under its existing $625 million revolving credit facility by $55 million, resulting in aggregate commitments under the revolving credit facility of $680 million and (iii) ter
Gray Television, Inc. ("Gray," the "Company," "we," or "our") (NYSE:GTN) announced today the commencement of a refinancing process for its existing $1.15 billion term loan due 2026 and up to $450 million of its 5.875% senior notes due 2026, with the goal of extending a significant portion of its near-term debt maturities. Overall, the Company is targeting refinancing that outstanding debt with approximately $750 million of new senior secured term loans maturing in 2029 and approximately $750 million of additional senior secured debt, together with cash on hand and borrowings of approximately $100 million under its revolving credit facility due 2027. In addition, Gray announced that it has
Benchmark analyst Daniel Kurnos maintains Gray Television (NYSE:GTN) with a Buy and raises the price target from $11 to $13.
Wells Fargo analyst Steven Cahall maintains Gray Television (NYSE:GTN) with a Underweight and raises the price target from $5.5 to $6.
Gray Television, Inc. (NYSE:GTN) shares are trading higher after reporting first-quarter results. The company reported quarterly earnings per share of 79 cents, beating the analyst consensus of 18 cents. The company reported quarterly revenues of $823 million, missing the street view of $824.985 million. The first quarter of 2024 produced strong core advertising results, including $372 million in core advertising revenue, an increase of $15 million or 4% compared to 2023. Gray Television also benefited from continued strong advertiser demand for local content, including numerous professional sporting events on stations, from the Super Bowl to local packages of NBA games. In t
On May 6, 2024, our Board of Directors authorized us to use up to $250 million of available liquidity to repurchase our outstanding indebtedness through December 31, 2025.
ATLANTA, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on December 31, 2024, to shareholders of record at the close of business on December 13, 2024. About Gray Television: We are a multimedia company headquartered in Atlanta, Georgia. We are the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 36 percent of US television households. The portfolio includes 77 markets with the top-rated t
ATLANTA, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray," "Gray Media," "we," "us" or "our") (NYSE:GTN) today announced a strong third quarter ended September 30, 2024. Gray also projected full-year 2024 political advertising revenue of $500 million, as well as full-year 2024 Net Debt reduction of $500 million. SUMMARY OF THIRD QUARTER RESULTS OPERATING HIGHLIGHTS: Total revenue in the third quarter of 2024 was $950 million, an increase of 18% from the third quarter of 2023.Core advertising revenue in the third quarter of 2024 was $365 million, an increase of 1% from the third quarter of 2023.Retransmission consent revenue in the third quarter of 2024 was $369 million, a
ATLANTA, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE:GTN) today announced that it will release its earnings results for the quarter ended September 30, 2024 on Friday, November 8, 2024. Earnings Conference Call Information Gray Media will host a conference call to discuss its operating results for the quarter ended September 30, 2024 on Friday, November 8, 2024. The call will begin at 11:00 a.m. Eastern Time. The live dial-in number is 1-800-285-6670. The call will be webcast live and available for replay at www.graymedia.com. The taped replay of the conference call will be available at 1-888-556-3470 Passcode: 898476# until December 8, 2024. About Gray Media: Gray Media, or Gr
ATLANTA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on September 30, 2024, to shareholders of record at the close of business on September 13, 2024. About Gray Television: We are a multimedia company headquartered in Atlanta, Georgia. We are the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 36 percent of US television households. The portfolio includes 77 markets with the top-r
ATLANTA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray Media," "Gray," "we," "us" or "our") (NYSE:GTN) today announced financial results for the second quarter ended June 30, 2024, including total revenue of $826 million and total operating expenses (before depreciation, amortization and loss on disposal of assets) of $607 million. While we are overall pleased with our results in the second quarter, macro-economic and other factors largely beyond our control appear likely to result in somewhat lower revenues for the year than we previously anticipated. Our core advertising revenue in the second quarter was $373 million, which was slightly below the low end of our guidance
ATLANTA, July 01, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE:GTN) today announced that it will release its earnings results for the quarter ended, June 30, 2024 on Thursday, August 8, 2024. Earnings Conference Call Information Gray Television, Inc. will host a conference call to discuss its operating results for the quarter ended June 30, 2024 on Thursday, August 8, 2024. The call will begin at 11:00 a.m. Eastern Time. The live dial-in number is 1-800-285-6670. The call will be webcast live and available for replay at www.graymedia.com. The taped replay of the conference call will be available at 1-888-556-3470 Passcode: 898476# until September 6, 2024. About Gray Media: Gray
ATLANTA, May 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE:GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on June 28, 2024, to shareholders of record at the close of business on June 14, 2024. About Gray Television: We are a multimedia company headquartered in Atlanta, Georgia and the nation's largest owner of top- rated local television stations and digital assets. Our television stations serve 114 television markets that collectively reach approximately 36 percent of US television households. This portfolio includes 79 markets with the
ATLANTA, May 07, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray," "we," "us" or "our") (NYSE:GTN) today announced financial results for the first quarter ended March 31, 2024, reflecting our total revenue of $823 million and total operating expenses (before depreciation, amortization and loss on disposal of assets) of $632 million. Overall, we believe that our businesses have started 2024 in a strong position. The first quarter of 2024 produced strong core advertising results, including $372 million in core advertising revenue, an increase of $15 million or 4% compared to 2023. Our core advertising business has more than fully recovered from the pandemic, with core advertising reve
ATLANTA, April 09, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE:GTN) today announced that it will release its earnings results for the quarter ended, March 31, 2024 on Tuesday, May 7, 2024. Earnings Conference Call Information Gray Television, Inc. will host a conference call to discuss its operating results for the quarter ended March 31, 2024, on Tuesday, May 7, 2024. The call will begin at 10:00 a.m. Eastern Time. The live dial-in number is 1-800-285-6670. The call will be webcast live and available for replay at www.gray.tv. The taped replay of the conference call will be available at 1-888-556-3470 Passcode: 898476# until June 6, 2024. About Gray: Gray Television,
ATLANTA, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray") (NYSE: GTN) announced today that its Board of Directors has authorized a quarterly cash dividend of $0.08 per share of its common stock and Class A common stock. The dividend is payable on March 28, 2024, to shareholders of record at the close of business on March 15, 2024. About Gray Television: We are a multimedia company headquartered in Atlanta, Georgia. We are the nation's largest owner of top-rated local television stations and digital assets. Our television stations serve 113 television markets that collectively reach approximately 36 percent of US television households. This portfolio includes 7