The company put itself-or any part up-for sale by the end of 1992. Senator and Georgia Governor Zell B. Miller joined from the Board of Directors. The Company moved to the New York Stock Exchange (NYSE), trading under the symbol GCS.
The Company wins 57 Regional Edward R. Murrow Awards for excellence in journalism in 23 Markets. Gray is the largest owner of top-rated local television stations and digital assets in the United States ("U.S."). On the right, a nonprofit called 45 Committee poured more than $23 million into the 2016 presidential race to support President Donald Trump. 1897 This seesaw motion isn't random, it matches the election cycle. Im going to reach their voters.. [59] The sale was completed on December 1. After the spinoff, the total enterprise value of the transaction for Gray will be $2.7 billion. While the board of directors received about 40 offers, Bull Run Corporation purchased the remaining shares of the Gray siblings, who as part of the deal resigned from the board. I wrote this article myself, and it expresses my own opinions. And now Full Court Press here in Vermont with a little bit of FoxNews is going to get a share this fall for Gray Television. Gray announces the initiation of a quarterly cash dividend, the first since the Great Recession. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Through December 31, 2012, Gray would earn $2.2million and an opportunity to earn additional specified incentive fees if certain performance targets were exceeded. I enjoy the people I've worked with and come across. He also confirmed that sports events were a heavy focus, with many [political] advertisers triple spotting during college and NFL football games. He noted that many campaign advertisers ran two spots within a half-hour local newscast and many waived the separation requirements to keep their commercials from being run adjacent to rivals political messages. Putting all the segments together, we use management's forecast for retransmission fees as outlined in the May investor presentation. Gray Television Chairman-CEO Hilton Howell was upbeat, to say the least, when describing the outlook for political ad spending this year. The Company acquired WCTV-TV (Tallahassee, FL) and WVLT (formerly WKXT) (Knoxville, TN), as well as satellite and production services and Porta Phone Paging services from John H. Phipps, Inc. Although not considered to be as openly right-wing as Sinclair Broadcasting which stipulates all outlets must carry conservative political content Gray TV may be Foxifying WCAX a bit. Local news is the most desired location for most political advertisers. Comparing 2012 to 2008 (the last two presidential elections), we can see that Gray grew ad dollars by 77%, and comparing 2014 to 2010, we can see they grew in non-presidential years by 42%. Robinson, Robert S. Prather, and Hilton H. Howell, Jr. joined Gray's Board of Directors. [25][26] The sale was completed on September 15. I wrote this article myself, and it expresses my own opinions. Additionally, the FCC incentive auction starts in 2016 and the current valuation assigns no value to the spectrum assets. The community has an amazing musical and artistic history that combines the best of a small town atmosphere with the amenities of a much larger city. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Here is the near term catalyst, we know 2015 will be a down year for political but 2016 will be a dramatically higher year for the presidential election. More recently Media Matters reported something more problematic : With one terrible tweet, Greta Van Susteren helped fuel a conspiracy theory that made its way to the president, who repeated it within hours, On Twitter, former Fox News and MSNBC host Greta Van Susteren tweeted that the FBI obviously tipped off CNN, adding that even if you dont like Stone, it is curious why Muellers office tipped off CNN., Nearly three hours later, Van Susteren conceded that she might be wrong about CNN acting on a tip. Over the next several decades, the company transformed in parallel to the ever-changing media landscape, expanding with additional newspaper acquisitions and later television stations to eventually became known as Gray Communications Systems. Gray purchases Third Rail Studios in Doraville, Georgia. The Company subsequently announced the divestiture of all the radio stations and certain television stations to facilitate regulatory approvals. Gary was founder/editor/publisher of Interactivity Report, TeleServices Report and other influential newsletters; he was the longtime curmudgeon columnist for Multichannel News as well as a regular contributor to AdMap, Washington Technology and Telecommunications Reports. [32][33], On May 13, 2016, Gray announced that it would acquire WDTV and WVFX in Clarksburg, West Virginia from Withers Broadcasting for $26.5million. The 2016 presidential primary and general election brought in upwards of $100 million on political ads in broadcast and cable television in New England markets. Zippia gives an in-depth look into the details of Gray Television, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Gray Television. The 2016 elections will decide the White House, 34 U.S. Senate seats and 12 governorships. Mr. Trump and his shared committees with the R.N.C. The Company announced the opening of its Washington D.C. News Bureau. Gray Television is a leading media company that owns and operates high-quality stations in 113 television markets that collectively reach 36 percent of US television households. The price per share dropped to $8. The Companys television stations create an online Local Business Directory for thousands of local companies who remain open for business. The Company announced that it had reached a multi-year deal that renews station affiliation agreements covering all 32 markets in which Gray own and operates its 39 CBS-affiliate television stations. AllSides Media Bias Chart. Gary has taught media-focused courses on the adjunct faculties at George Mason University and American University and has guest-lectured at MIT, Harvard, UCLA, University of Southern California and Northwestern University and at countless media, marketing and technology industry events. Layoffs hit the WCAX newsroom about a year later. The Company terminated existing joint sales and services agreements with these stations and sold their licensed assets to Chang Media, Legacy Broadcasting, and MMB LLC. The green segment, retransmission, is fees paid by cable or satellite operators to carry their programming. In addition, Ralph W. Gabbard became the Company's President and CEO. Knowing the political bias of media outlets allows you to consume a balanced news diet and avoid manipulation, misinformation, and fake news. Mr. Prather resigned from all positions with the Company. The Company purchased the operations other than the FCC licensed assets of WFXS-TV (Wausau-Rhinelander, WI) and KVTV-TV (Laredo, TX) from Davis Television, LLC and Eagle Creek Television, respectively. Gray expects political advertisements for these two races will continue running through January 5, 2021, the date of the special elections. [40][41], On May 21, 2018, Gray Television entered into an agreement to acquire KNHL from Legacy Broadcasting for $475,000. And now Full Court Press here in Vermont with a little bit of FoxNews is going to get a share this fall for Gray Television. [15] A new strategy of purchasing stations in college towns or capitals was put into place. The Company acquires minority ownership interest in TEGNAs Premion, a leading OTT advertising business, and becomes a a reseller of Premions services in its local markets. These records will be broken in 2024, he predicted, but he admitted, It hard for me to put that into context.. On January 1, Circle officially launches. * To subscribe, you must consent to Futures privacy policy. by Hilton Howell. Gray Television (NYSE: GTN and GTN.A) is a leading digital media and broadcasting company, owning and operating top ranking local news stations, digital and mobile platforms in 57 markets across . Gray Television's mission statement is "To include the capability of tuning and decoding over-the-air digital signals by 2007.". The Company opens newly remodeled 20,000 sq. The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. Gray names Bob Smith as Chief Operating Officer and Nick Waller as its Chief Administrative Officer. He writes regularly about trends and media/marketing for the Consumer Technology Association's i3 magazine plus several blogs. [60], On July 22, 2009, a New York bankruptcy judge approved a plan transferring ownership of Young Broadcasting and its stations to the company's secured lenders. The company bought Gulflink Communications, Inc., a transportable satellite uplink business based in Baton Rouge, Louisiana, in April 1997 to go along with Lynqx. Gray Television, Inc.
We know that the world is waking up to its environmental responsibility. They seem to do a good job building team chemistry and my coworkers seem like nice people. On January 2, 2019, Gray Television completed its acquisition of Raycom, transforming it from a small, regional broadcaster to a leading media company with nationwide scale. [4][12], In 2002, Robinson became chairman and CEO, his son-in-law Hilton Howell vice chairman, Prather president/COO and Jim Ryan senior vice president. The pro forma portfolio includes 79 markets with the top-rated television station and 101 markets with the first and/or second highest rated television station according to Comscore's audience measurement data. More alarming,national media outlets are publishing these samefake storieswithout checking facts first. He also cited the continuing TV commercials in the pending Georgia races for U.S. Senate seats. James Harrison Gray, Sr. acquired the Herald Publishing Company. Gray Televisions WVUE (FOX, New Orleans, Louisiana) receives three Sigma Delta Chi Awards from The Society of Professional Journalists. At today's valuation of 17x earnings this accounts for the entire market cap. By this time, Robinson, directly or through Bull Run, owned 44% of the company's stock. Politicians buy ad time to help them . Bull Run Corporation, primarily owned by J. Mack Robinson, decided to make Gray a Southeast regional media company, expanding its focus beyond the state of Georgia. The new Young Broadcasting still held the final say on overall operations for their stations, including programming and personnel.[16][18]. The Company purchased WAGM-TV (Presque, ME) from NEPSK, Inc. Gray closes on its acquisition of Raycom Media, Inc. and all required divestitures. In 2013 Wells Fargo provided a valuation analysis for Sinclair's spectrum, valuing it at $2.9 billion, 35% above the companies total market cap at that time. Gray Television supports local community interests by providing quality television broadcasting and exceptional service in each market we serve. Visit our corporate site (opens in new tab). [57], On May 3, 2021, Gray announced plans to buy the television division of Meredith Corporation for $2.7 billion. Number two, the primary spending in late 2019 and early 2020 was supercharged by the supposedly irreplaceable spending by candidates Mike Bloomberg and Tom Steyer. During the first two quarters of 2020, on a combined historical basis, our television stations sold $79 million in political ads. An experienced investor with more than a decade of experience working at some of the largest asset management organizations, I now focus full time on my personal investments and sharing unique ideas with the online value investing community. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Gray Television, Inc. Atlanta, Ga, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Gray Television, Inc. (Gray) (NYSE: GTN) today announced that its local television stations and digital platforms have now run more than $400 million in political advertisements since January 1, 2020, net of commissions and agency fees. Gray closes on acquisition of previously announced Meredith Corporations Local Media Group. Gray reaches a Joint Venture Agreement with Opry Entertainment Group (Ryman Hospitality Properties) to create a premium content broadcast and OTT service focused on the Country Lifestyle. [43][44][45], Although Gray foresaw that the acquisition would receive regulatory approval quickly, due to limited market overlap between the two companies and its still-relatively low total market reach post-acquisition. Utilize solar powered trailers and fuel-efficient vehicles where possible to reduce carbon footprint. Gray Television's roots begin in January 1891 with the creation of the Albany Herald in Albany, Georgia. The Company announces that Greta Van Susteren has joined Gray as Chief National Political Analyst. Help other job seekers by rating Gray Television. Presented another way, below you can see what political represents as a percent of total revenue for the year. Bryan and College Station are routinely recognized as a leader in quality of life and as one of the fastest growing communities in the country. [4], In September 2015, Gray announced that it would acquire the television and radio stations of Schurz Communications for $442.5million. During that period, Gray Television divested all the newspapers and television stations that it owned prior to 1993 other than WJHG. (January 2nd, 2019). In fact, the health category is pacing just slight behind auto. [3][4], New management was put in place at all three TV stations. [19] Three weeks later, on November 20, Gray announced it would purchase Hoak Media and Parker Broadcasting for $335million, and North Dakota's Fox affiliate KNDX/KXND for $7.5million. Six Gray Stations honored with Service to America Finalists and Winners by the National Association of Broadcasters Leadership Foundation, including the second consecutive Small Market Winner award for WCTV, Grays CBS affiliate in Tallahassee, Florida. From this years experience, LaPlatney said he believes broadcast TV will continue to play a major role in campaign advertising even with the growing presence of digital platforms. Commenting in an interview early this year on how he thought President Trump might weather the Mueller investigation, former White House Counsel John Dean (of Watergate notoriety) observed: I think theres more likelihood (Nixon) might have survived if thered been a Fox News. The implication, of course, is that with the backing of Fox News or another powerful national media propaganda outlet even Richard Nixon, how ever damaged and corrupt as a leader, could have clung to power. While that is good news and bad news to some degree, its a clear victory for in-house health and political sales teams, and our core stations have done outstanding work in developing this category. The entire downtown area has been re-imagined with top tier restaurants, shopping, bars, clubs and a variety of art galleries. A single Democratic leadership-aligned nonprofit called Majority Forward poured a record-breaking $46 million into 2018 elections from the left. Campaigns also use political donations to hire staff and consultants. The services group comprising financial, legal and health is continuing to post strong results, accounting for approximately 29% of our core revenue in Q1, he added. The Company announced that the Singing For Their Supper telethon raised over one million dollars for local food banks through its broadcast one afternoon across 50 of its markets. A study by Gfk in 2013 found that 19.3% of homes were using an antenna rather than pay for television, up from 17.8%. Several recipients of Nexstar donations, including Sens. The Company wins 19 Regional Edward R. Murrow Awards for excellence in journalism. Campaigns turned much more to broadcast television, he said. The Company announced its purchase of all of the television and radio stations owned by Schurz Communications, Inc. The National Association of Broadcasters Education Foundation (NABEF) selected KWTX-TV (CBS) in Waco, Texas, and KOLO-TV (ABC) in Reno, Nevada, to receive two of the three annual Service to America Awards. The Company announced that it was recognized with the Ad Councils 2017 Crystal Bell Award at Forward 2017, the Television Bureau of Advertisings (TVB) annual leadership conference in New York City. Owned by Branson Visitors TV; Gray holds a 50.1% interest in this company. LaPlatney said that Gray TV is fully committed to the 3.0 rollout, but because many of its stations are in smaller markets, it may be a while before the service debuts throughout its footprint. Total 2016 revenue could be as much as $654 million. Management of Young Broadcasting stations. Thank you for signing up to Broadcasting & Cable. [45], By January 20, 2016, Gray had set up their Washington News Bureau by Jacqueline Policastro to enable stations to get interviews with U.S. I learned a great deal of skills in a short period of time. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. Between the early 1990s and today, the company was transformed through strategic acquisitions and subtle, yet critical transitions. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. And Gray has been introducing its sales training throughout the newly acquired Meredith stations as it did previously with the former Quincy Media stations. [20] On December 19, it was announced that stations KREX-TV and WMBB would be sold to Nexstar Broadcasting Group, while KFQX would be sold to Mission Broadcasting. A large media company with 8,018 employees and an annual revenue of $2.1B, Gray Television is headquartered in Atlanta, GA. To include the capability of tuning and decoding over-the-air digital signals by 2007. Please. Meanwhile, though, Gray has added more local news programs in many markets, effective April 1, as three syndicated shows came to an end. The parties later agreed to a settlement. Founded in 1946 by James Harrison Gray as Gray Communications Systems, the company owns or operates 180 stations across the United States in 113 markets. Gray and ViacomCBS announces multi-year agreement to renew all 47 of Grays CBS affiliations. The Board of Directors unanimously voted to expand the Board by one seat and elected Luis A. Garcia as a Director to fill that position. Sinclair is already the biggest owner of local television stations in the country with 173 it either owns or operates and Tribune will give it dozens more, furthering the companys ambitions. List of stations owned or operated by Gray Television, "Gray Television consolidating offices, leaving Albany", "Gray: Strong Stations, Smart Operations", "Atlanta-based TV-station operator to spin off newsletter, wireless units", "Daily Post's parent company changes name", "Banks' Bid on Young Stations Clears Hurdle", Who's Really Running Young Broadcasting? The largest donation made to a political party by a Gray Television employee was The Company announced the passing of its Chairman since 1993, Dr. Billy Mayher, III. Gray Television Stock Can Win From the 2020 Presidential Election | Barron's Media Feature A TV Stock That Can Win No Matter Who Wins the 2020 Election By Lawrence C. Strauss July 5, 2019. The Company breaks ground on new WRDW-TV Station facility in Georgia. The data presented on this page does not represent the view of Gray Television and its employees or that of Zippia. For those not familiar with her, Van Susteren spent 14years as a prime-time FoxNews host replaced by Tucker Carlson in 2016.Then in 2017 she was on MSNBC but was dropped after six months. Didn't like having to work most holidays. Health Care, Dental Care, & Free Parking (if in the city). Gray owns local television station and leading digital platforms serving the local markets of Savannah, Augusta, Albany, Columbus, and Thomasville, Georgia. None of the information on this page has been provided or approved by Gray Television. The transaction completes Gray's transformation from a small, regional broadcaster to a leading media company with nationwide scale based on high-quality stations with exceptional talent in attractive markets. This brought the company total to $534.5 million in available funds with $409.5 million directly available. Now some will read that as a "fair" or "full" price. Meeting new people in the reporting area of the business. Gray Television's total non-political (core) ad revenue last month was about $82 million; during the same month, political ads generated $175 in advertising, said Pat LaPlatney, President & Co-CEO of Gray Television, Inc. [3][4], In 1986 Gray died, leaving his 50.5% share of the stock in a trust for his children with stipulation that they run the business together, sell their stock with each other or sell out together. Wells Fargo provided a valuation analysis for Sinclair's spectrum. [45] The sale was approved by the FCC on December 20, 2018. I felt like that job gave me very important skills that Ill take with me in every job to come & be extremely valuable for. Gray would eventually purchase KWQC and WBAY outright when Nexstar Broadcasting Group acquired Media General in 2017, as Nexstar already owned WHBF-TV and WFRV-TV in each market.
The Company made a $3 million strategic equity investment in Syncbak, a technology company that replicates over-the-air broadcasts for delivery over-the-top (OTT) of the Internet. Work from Nielsen shows this mid-single-digit growth continuing. On theHill.com Gray TV Chairman and CEO Hilton Hatchet Howell, Jr., characterized Full Court Press this way: Our goal is to provide critical information without bias to allow viewers to form their own opinions and reach their own decisions by exploring all sides of a complex issue.. InvestigateTV was launched in 2018 and provides innovative, original journalism from a dedicated investigative team and key partners. Meridian, MS is a place people love to call home. Related: Stations, Networks Eye Boom in Political Ad Spending. Subsidiaries to Gray Television include KY3. In contrast to this stable and growing ad revenue, you have political - which, as you can see below, is the most volatile revenue line item. Advertising revenues dropped. [3], In 1996, Gray added additional TV stations while entering additional communication industry segments. [55][56] The "studio city" is set to include multiple film studios, as well as apartments, townhomes, a hotel, corporate offices, restaurants and retail space. The Company announced the passing of Second Founder J. Mack Robinson. Gray forms a new sales and sponsorship entity called Gray Sports + Entertainment Sales. They also named three other Gray stations as finalists for these prestigious awards. Gray COO Bob Smith noted that there was already some displacement of regular advertisers by political spots in the first quarter. Its not only Fox News that covers Trumps back. Gray launches its first NextGen TV (ATSC 3.0) station in Tallahassee, Florida. "Gray Buys Stations in Flint, Toledo For $128M", "TV in the news Channels 24, 13 expanding newscasts; CW13 to replace WT05", Gray Closes on Flint, Toledo Station Buys, "Schurz Communications to sell WSBT and other TV, radio stations", "Gray Acquiring TV, Radio Stations from Schurz for $442.5 Million", "Gray Opens Washington, D.C. News Bureau", "Gray Buying Two Nexstar Spinoffs For $270M", "Gray Buys Nexstar Stations in Green Bay, Davenport", Gray Buys Diversified's Stations in Bangor, Gainesville, "Gray Buying CBS Affil WCAX Burlington, Vt", "Pranksters sued by TV company over morning show antics", "Meet the comedy duo who got sued for pranking the news", "Gray TV to Buy Raycom in $3.65 Billion Deal", "Gray Acquiring Raycom For $3.65B, Forming No. Kevin Latek, Nick Waller, Bob Smith, and Jason Effinger named Senior Vice Presidents. One concern that is popular today is the risk of "cord cutters" - the younger generation that opts for Hulu and Netflix over traditional television. Claiming and updating your company profile on Zippia is free and easy. Copyright 2023 Gray Television, Inc. All Rights Reserved. Gray is a well run-business with a number of near-term tailwinds. [61], The agreement ended without any further extensions on December 31, 2012, and Young agreed to a merger with Media General in mid-2013. Gray considered the possibility of purchasing the Young stations if the group went on the market. The Company reached an agreement with Diversified Communications to acquire WABI (CBS/CW) in Bangor, Maine and WCJB (ABC/CW) in Gainesville, Florida. James H. Gray started his communication business with the purchase of The Herald Publishing Company (a company founded in 1897 to promote The Albany Herald, a newspaper that started publication in 1891), in 1946 after he returned from World War II. NABs Leadership Foundation selects two Gray stations as national winners in their categories and three Gray stations as finalists in its coveted Service to America Awards competition. I am not receiving compensation for it (other than from Seeking Alpha). The Company entered the television business when it constructed WALB-TV (Albany, GA) to complement its radio station, WALB(AM). The Company purchased WNDU-TV (South Bend, IN) from the University of Notre Dame. The Company also acquired Gulflink Communications, Inc., a satellite uplink service. They had Gray purchase 14 Benedek Broadcasting stations while that company was in bankruptcy. The AllSides Media Bias Chart helps you to easily identify different perspectives and political leanings in the news so you can get the full picture and think for yourself. In response to questions about the role of NextGen TV (also known as ATSC 3.0), LaPlatney said he expects it to have a significant effect, citing the IP-based format for its ability to provide better targeting and click-to-donate options. We are working hard as a company to reduce our carbon footprint on the planet. Ballots will include all 435. The Company purchased WQCW-TV (Charleston, WV) from Lockwood Broadcasting. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. They own and operate stations in 44 markets, broadcasting 139 streams including 76 affiliates of the Big Four networks (ABC, CBS, NBC, and Fox). There was a problem. Please refresh the page and try again. Fortune Magazine announced that Gray Television ranked 77th in its ranking of the Top 100 Fastest Growing Companies in the World for 2016. [21] On March 25, 2014, Prime Cities Broadcasting, owner of KNDX/KXND, requested that the FCC dismiss the sale of KNDX/KXND to Excalibur. [30][31], In January 2016, Gray Television opened a national news bureau in Washington, D.C., led by former APTV journalist Jacqueline Policastro. Focusing on the four largest segments of the pie, local, national and political refer to advertising dollars. As impressive as that $79 million was for the first half of 2020 was, we expect to blow well past that figure for the first half of 2022, Latek said. Gray Television, Inc. 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. Political advertising will be a big boost to EPS. This trend is a large risk for cable companies or cable media companies but Gray will continue to capture these households whether it's through retransmission or directly through an antenna. On January 2, 2019, Gray Television completed its acquisition of Raycom, transforming it from a small, regional broadcaster to a leading media company with nationwide scale. 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And updating your Company profile on Zippia is Free and easy what political represents a., in ) from Lockwood Broadcasting, new management was put in place at three. Segments together, we use management 's forecast for retransmission fees as outlined in world... House, 34 U.S. Senate seats today 's valuation of 17x earnings accounts. Enjoy the people i 've worked with and come across and decoding over-the-air digital signals 2007., misinformation, and fake news leadership-aligned nonprofit called Majority Forward poured a record-breaking $ 46 into. In fact, the FCC on December 20, 2018 online local business Directory for thousands local...