Gray TV

Gray Television, Inc. is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It operates through the following segments: Broadcasting, and Production Companies. The Broadcasting segment operates television stations located across local markets in the United States. The firm's segment includes the production of television and event content. The company was founded in January 1897 and is headquartered in Atlanta, GA.

Earnings data Q1 2021

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Earnings data Q3 2024

Earnings data Q4 2024

Gray TV reports record revenue in Q4 2022 earnings call

Gray TV's strong financial performance in Q4 2022 and strategic focus on reducing leverage position the company well for future growth.
Stable subscriber counts and expectations of revenue growth from various sources indicate resilience and adaptability in a changing TV landscape.
Challenges in subscriber declines and macroeconomic uncertainties are being addressed through strategic initiatives and cautious evaluation of projects.

Gray TV surpasses revenue targets, eyes growth in local markets

Gray Television's Q1 2023 performance exceeded expectations, with strong revenue and optimistic outlook for core revenue growth.
The company's focus on local news content, strategic agreements, and infrastructure development position it well for future opportunities.
Challenges in personnel recruitment and financial uncertainties are areas of concern that Gray TV aims to address.
Overall, Gray Television's resilience, market relevance, and strategic initiatives bode well for its future growth and value creation.

Gray TV beats estimates, eyes political revenue, and strategic growth

Gray TV's Q2 2023 earnings call showcased strong financial performance, strategic partnerships, and industry recognition. While facing challenges related to political revenue uncertainties and industry disruptions, the company remains focused on deleveraging and exploring growth opportunities. With a solid foundation in core advertising and retransmission revenue, Gray TV is poised for continued success in the evolving media landscape.

Gray TV reports strong Q3 growth, eyes political ad revenue

Gray Television (GTN) showcased robust performance in core, retransmission, and political revenue, with a positive outlook on Assembly Studios' revenue potential.
The company's strengths lie in core advertising success, Assembly Studios' value, and debt-free financing, while facing challenges in sports deals and Charter Disney impacts.
Opportunities include increased political ad revenue, digital platform growth, and next-gen technology rollout, positioning Gray TV for continued success.

Gray TV reports strong 2023 revenue growth, eyes deleveraging and growth opportunities in 2024

Gray Television's 2023 performance showcased strong revenue growth and successful initiatives in advertising and content. Despite a net loss in Q4 '23, the company remains optimistic about its outlook for 2024, focusing on deleveraging and seizing growth opportunities.

Gray TV (GTN) reports robust Q1 earnings, eyes growth opportunities

Gray TV (GTN) delivered strong Q1 results, focusing on revenue diversification, financial stability, and debt reduction for long-term sustainability.
Despite challenges like political advertising displacement and delayed project revenues, the company is well-positioned to capitalize on growth opportunities.
Strategic partnerships, content quality recognition, and technological advancements present avenues for revenue growth and market competitiveness.
A prudent financial strategy, commitment to deleveraging, and focus on local market strengths underpin Gray Television's resilience in a dynamic industry landscape.

Gray TV (GTN) reports stellar Q3 results amidst ad revenue challenges

Gray TV's Q3 2024 performance reflects robust revenue growth, improved profitability, and efficient cost management, showcasing the company's financial strength and strategic focus.
While facing challenges in core ad revenue and political ad revenue, Gray TV's emphasis on debt reduction, operational excellence, and market diversification positions it well for future growth.
By addressing challenges, capitalizing on strengths, and seizing opportunities, Gray TV can navigate industry dynamics, enhance shareholder value, and sustain its competitive edge in the media landscape.

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Gray Television (GTN) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Gray Television (GTN) Surges 6.2%: Is This an Indication of Further Gains?

ATLANTA, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) issued the following statement today in response to numerous inquiries from stakeholders regarding the proposed new streaming service that The Walt Disney Company (“Disney”), Fox Corporation (“Fox”) and Warner Bros. Discovery, Inc. (“WBD”) announced yesterday:

Gray Television Statement on Newly Announced Streaming Service

ATLANTA, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray” or the “Company”) (NYSE: GTN) announced today that it has reached agreements with Marquee Broadcasting, Inc. (“Marquee”) to swap television stations. Gray will sell its television stations in the Cheyenne-Scottsbluff and Casper television markets (DMAs 194 and 198, respectively) to Marquee in exchange for Marquee's FCC permit authorizing the construction of new, unbuilt television station KCBU in the Salt Lake City market (DMA 27).

Gray and Marquee Broadcasting Swap Television Station Assets

ATLANTA, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) announced today that it is proposing, subject to market and other conditions, to refinance certain of its existing senior credit facilities (the “Senior Credit Facilities”). Gray also announced updates to certain of its previously announced guidance for the fourth quarter of 2023, based on preliminary information available to date.

Gray Announces Proposed Refinancing of Senior Credit Facilities, Updates Guidance for Fourth Quarter 2023, and Announces Anticipated Proceeds from Sale of BMI

ATLANTA, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Columbia Journalism School announced the 15 winners of the 2024 duPont-Columbia Awards during a special ceremony last night highlighting outstanding audio and video reporting in the public interest, including InvestigateTV, Gray Television Inc.'s (“Gray”) (NYSE: GTN) national investigative unit, and WANF, Gray's Atlanta CBS affiliate. ABC World News Tonight Anchor David Muir and CNN Anchor and Correspondent Audie Cornish hosted the ceremony at the Low Memorial Library on Columbia University's campus. Their award recognizes the outstanding work of both teams on the multi-part investigative series “The Sixth,” which exposed a critical shortage of public defenders in Georgia and many other states, where defendants can languish in jail for months, even years, awaiting trial.

Gray's InvestigateTV and WANF Presented with 2024 duPont-Columbia Award

ATLANTA, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE: GTN) today announced that it will release its earnings results for the quarter ended, December 31, 2023 on Friday, February 23, 2024.

GRAY SETS DATE FOR FOURTH QUARTER EARNINGS RELEASE AND EARNINGS CONFERENCE CALL

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.

Gray Promotes Liz Knight to General Manager of WALB and WGCW in Albany, Georgia

Atlanta, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray) (NYSE: GTN) today announced that it has reached an agreement in principle with the NBC Network that extends and renews all of Gray's NBC network affiliations, which otherwise would have expired at year-end 2023.  Gray owns and operates NBC affiliated television stations serving 56 markets.  In the current 2023-24 television season, NBC is the #1 network and ranks first in all key demos, as well as first in primetime, morning/afternoon news, late night, primetime sports, scripted and alternative program categories.

GRAY TELEVISION REACHES AGREEMENT IN PRINCIPLE TO RENEW ALL GRAY NBC AFFILIATIONS NATIONWIDE

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.

Gray Promotes Bruce Austin to General Manager of WVLT and WBXX in Knoxville, Tennessee

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In November, we welcomed 24 new analysts who published their first article on Seeking Alpha. This series highlights and welcomes these newcomers to our ranks of analysts who share their unique insights and perspectives as well as some of their top investing ideas. We've compiled all of their firsts here for your review and to showcase the new perspectives being offered on the platform.

Celebrating Seeking Alpha's New Analysts - November 2023 Edition

Gray Television is reshaping its balance sheet through recent acquisitions and divestitures, potentially leading to improved cash flow and stock valuation. In my view, the recent acquisitions of the television station WPGA in Macon, Georgia market, and the divestiture of KNIN may bring cash in hand and incoming FCF growth from new synergies. GTN's experienced management team and expertise in M&A suggest further inorganic growth and higher free cash flow margins in the future.

Gray Television: Divesting But Appears Undervalued

Gray Television & Universal Production Services launch full-service state-of- the-art television and film studios creating thousands of jobs for Georgians Gray Television & Universal Production Services launch full-service state-of- the-art television and film studios creating thousands of jobs for Georgians

Gray Television's Assembly Studios Celebrates Grand Opening of Innovative Sound Stages in Georgia

Gray Television, Inc. (NYSE:GTN ) Q3 2023 Earnings Conference Call November 8, 2023 11:00 AM ET Company Participants Hilton Howell - Chairman, CEO Sandy Breland - Chief Operating Officer Pat LaPlatney - President & Co-CEO Kevin Latek - Chief Legal & Development Officer James Ryan - Chief Financial Officer Conference Call Participants Aaron Watts - Deutsche Bank Steven Cahall - Wells Fargo Daniel Kurnos - Benchmark Nicholas Zangler - Stephens Inc. Alan Gould - Luke Capital Craig Huber - Huber Research James Goss - Barrington Research Michael Kupinski - Noble Capital Operator Welcome to the Gray Television Third Quarter 2023 Earnings Call. I will now turn the call over to today's speaker, Chairman and CEO Mr.

Gray Television, Inc. (GTN) Q3 2023 Earnings Call Transcript

ATLANTA, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) today announced strong financial results for the third quarter ended September 30, 2023, including total revenue of $803 million, which was above the high end of our revenue guidance and total operating expenses (before depreciation, amortization, impairment and loss on disposal of assets) of $598 million, which was below the low end of our expense guidance for the quarter.

Gray Reports Strong Revenues and Lower Expenses for the Third Quarter

ATLANTA, Oct. 17, 2023 (GLOBE NEWSWIRE) --  Gray Television, Inc. (“Gray”) (NYSE: GTN) has released a new investor presentation providing Gray's perspective on the broadcast industry and the company in the current network and retransmission landscape. The presentation outlines Gray's belief that the Broadcast Industry and Gray are positioned well for continued growth in retransmission revenues in light of the continuing market trends and recent industry developments. The presentation is available on Gray's website at https://gray.tv/investorrelations#presentations.

Gray Issues Investor Deck Addressing Network and Retransmission Landscape

ATLANTA, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced the promotion of Jason Hall to Vice President of Spanish Media Sales, GrayTV Telemundo Station Group.

Gray Promotes Jason Hall to Vice President

ATLANTA, Sept. 26, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) announced today that Local News Live, a streaming news network that provides live news coverage from Gray's 113 television markets and Washington DC Bureau, is now available 24/7 on more than 500 Gray Television station websites, connected TV apps, and mobile apps. It's also available on Gray stations during non-local news hours on several FAST channels. Local News Live originally launched to provide content on stations' streaming platforms during time periods between live-streamed local newscasts. The new configuration provides streaming audiences non-stop access to local and national news feeds on designated channels housed within station CTV apps and websites.

Local News Live Launches 24/7 Live Stream Across All Gray Television Stations

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.

Peachtree Sports Network Launches Statewide on Gray Television Stations

ATLANTA, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) announced today that its stations have raised more than $225,000 for fire relief efforts in Hawaii. The money raised will provide immediate relief as well as long-term assistance for local Maui residents impacted by the deadly wildfire in Lahaina that took the lives of at least 115 people and left more than 2,200 buildings damaged or destroyed.

Gray Television Stations Raise More Than $225,000 for Hawaii Fire Relief

ATLANTA, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray”) (NYSE: GTN) is excited to announce the official launch of the daily news magazine program InvestigateTV+ on September 11, 2023. The program will leverage one of the largest collections of investigative journalists in the nation to provide even more investigations that not only uncover problems but reveal and often lead to solutions.

Gray Television's InvestigateTV+ Announces First Investigations Ahead of Official Launch

ATLANTA, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray ” ) (NYSE: GTN) announced today its promotion of Garrett Pope to Senior Vice President, Sales Operations, effective September 1st.

Gray Promotes Garrett Pope to Senior Vice President

Gray Television's stock has lost two-thirds of its value since early 2022, creating an opportunity for brave investors. The company has a large number of well-received TV channels, with one channel in the top spot in 70% of its markets. Gray's high debt levels and concerns about the TV industry have led to a lack of faith from investors, but its cash generation and growing revenues indicate potential for upside.

Gray Television Can Unlock A Lot Of Shareholder Value By Simply Paying Down Its Debt

Gray Television, Inc. (NYSE:GTN ) Q2 2023 Earnings Conference Call August 4, 2023 11:00 AM ET Company Participants Hilton Howell - Chairman, CEO Sandy Breland - Chief Operating Officer Pat LaPlatney - President & Co-CEO Kevin Latek - Chief Legal & Development Officer James Ryan - Chief Financial Officer Conference Call Participants Aaron Watts - Deutsche Bank Daniel Kurnos - Benchmark Steven Cahall - Wells Fargo Nicholas Zangler - Stephens Inc. Alan Gould - Loop Capital Markets Craig Huber - Huber Research James Goss - Barrington Research Operator Welcome to the Gray Television Second Quarter 2023 Earnings Call. I will now turn the call over to Hilton Howell.

Gray Television, Inc. (GTN) Q2 2023 Earnings Call Transcript

Gray Television (GTN) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to earnings of $0.91 per share a year ago.

Gray Television (GTN) Reports Q2 Loss, Tops Revenue Estimates

ATLANTA, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “we,” “us” or “our”) (NYSE: GTN) today announced strong financial results for the second quarter ended June 30, 2023, including total revenue of $813 million, which was above the high end of our revenue guidance and total operating expenses (before depreciation, amortization and loss on disposal of assets) of $593 million, which was below the low end of our expense guidance for the quarter.

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