The plan included Gray Television coming in as an outside party to advise on the operations of Young-owned stations in seven markets through December 2012. I wrote this article myself, and it expresses my own opinions. In their place, Gray Television acquired and, in some cases, built from scratch market-leading television stations focused on local communities. . Gray would also re-enter the Richmond market when it bought WWBT in 2019, following its merger with Raycom Media, and would also re-enter the Nashville market in 2021 with WSMV-TV after acquiring the television assets of Meredith Corporation. James H. Gray, Jr. resigned as President and surgeon William E. Mayher, III joined Gray's Board of Directors. 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. [3][4], The company was then taken public on NASDAQ's small-cap market in the 2nd quarter 1992. More alarming,national media outlets are publishing these samefake storieswithout checking facts first. I think it will likely rival, if not exceed, any previous presidential election, the CEO said. [16][17][18], Prather left the company in 2013 and Howell took over the president title. The Company acquired WJDM-TV (Panama City, FL) and changed the call letters to WJHG-TV to complement Mr. Gray's initials. The Company agrees to acquire KDLT-TV in Sioux Falls, South Dakota. Mr. Robinson did not stand for re-election to the Board. Kevin P. Latek named General Counsel. The Company announced its purchase of all of the television and radio stations owned by Schurz Communications, Inc. Boston Globe Newspaper to Launch Daily Newscast, The Mandalorian' Returns: Whats Premiering This Week (February 27-March 5), Peacock Will Experience 'Peak Expense Mode' Loss of $3 Billion in 2023, Comcast CFO Said, KMBC-TV, Kansas City Hires Brya Berry As Co-Anchor. 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. In May 2017 the station became part of Gray Television, a large corporation based in Atlanta, GA, with 144 local TV stations covering 10.4% of U.S. households. Now Sinclair has tailored promotional spots for its almost 200 local news outlets that seem to mirror parts of Trumps oft repeated bogus fake news claims. At today's valuation of 17x earnings this accounts for the entire market cap. The Assembly Atlanta development is a 135-acre mixed-use real estate complex centered around the studio industry in Doraville, Georgia. In addition to network diversification, the business is also well diversified by source of revenue. Didn't like having to work most holidays. The show, R In total they reach 8%+ of US television households as outlined in the graphic below. [58] It is revealed that Allen Media Group would purchase WJRT-TV in Flint for $70 million. Gray Television, Inc. is an American publicly traded television broadcasting company based in Atlanta, Georgia. Gray names Bob Smith as Chief Operating Officer and Nick Waller as its Chief Administrative Officer. Gray Television is a group of inspired innovators and thought leaders in the television industry. Political advertising will be a big boost to EPS. 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%. [3][4], New management was put in place at all three TV stations. That's why we are continually examining our own business practices and initiatives to see how we can make changes to promote sustainability for the good of tomorrow. Gray Television's roots begin in January 1891 with the creation of the Albany Herald in Albany, Georgia. James Murdoch, who left the family Fox News business, donated over $2.25 million. Meanwhile, though, Gray has added more local news programs in many markets, effective April 1, as three syndicated shows came to an end. [3] WALB was thus sold to Liberty Corp.'s Cosmos Broadcasting in August 1998. Hugh E. Norton joined Gray's Board of Directors. The Company began providing sales and other services to KJCT-TV (Grand Junction, CO). Our new travel and tourism team is also making meaningful contributions to our sales efforts, said LaPlatney. 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. Gray intended to turn KNHL into a satellite of its NBC affiliate KSNB-TV. Just months after doubling the Daily Post's staff, one third were laid off and a quarter of The Albany Herald's staff followed in January 1996. I am now the local media. I felt like that job gave me very important skills that Ill take with me in every job to come & be extremely valuable for. While every two years there are elections, we only get a presidential election every four. The twin problems caused its shares to trade at its lowest at 16 cents in 2008, thus the NYSE indicated they might delist the company. Mr. Robinson named Chairman and Chief Executive Officer, Hilton H. Howell, Jr. named Vice Chairman, Robert S. Prather named President and Chief Operating Officer, and James C. Ryan named Senior Vice President. 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The Company merged with Bostick Broadcasting and its television stations, KWTX-TV (Waco, TX), KBTX-TV (Bryan-College Station, TX), and KXII-TV (Sherman, TX). The Company announced record-setting audience rankings during the November 2017 sweeps period conducted by the Nielsen Company. Latek had earlier spelled out just how much political demand is up this year. Compared to the last midterms, which occurred in 2018, Gray's management team was estimating that they would bring in roughly $575 million in political advertising in 2022, which was an increase . And Gray has been introducing its sales training throughout the newly acquired Meredith stations as it did previously with the former Quincy Media stations. The table below compares EBITDA margins across competitors. 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. Loan covenants could have forced the company into default. The Company announced the election of Beth Neuhoff to its Board of Directors. At Fox, Van Susteren once wondered if the government was wasting our tax dollars at NASA because of the long delay getting satellite images from Pluto back to Earth. By this time, Robinson, directly or through Bull Run, owned 44% of the company's stock. During 2020, Gray's stations were ranked first in 70 markets, and ranked first and/or second in 86 markets, as calculated by Comscores audience measurement service. You can check out our full list of. Grays Raycom Sports launches Origin Sports Network on the Roku Channel in Canada and XUMO in the United States. The Company acquired WITN-TV (Greenville-Washington-New Bern, NC). On the right, a nonprofit called 45 Committee poured more than $23 million into the 2016 presidential race to support President Donald Trump. Knowing the political bias of media outlets allows you to consume a balanced news diet and avoid manipulation, misinformation, and fake news. Claiming and updating your company profile on Zippia is free and easy. 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. Gray is also well diversified across the networks, reducing programming risk. The bureau cooperates with Lilly Broadcasting's Washington bureau, previously started by Policastro, and is located at the NBC News Capitol Hill Bureau, 400 N. Capitol Street. The company issued and sold Class B common stock (through a public offering), senior subordinated notes and preferred stock in September. [57], On May 3, 2021, Gray announced plans to buy the television division of Meredith Corporation for $2.7 billion. Please. The data presented on this page does not represent the view of Gray Television and its employees or that of Zippia. The new Young Broadcasting still held the final say on overall operations for their stations, including programming and personnel.[16][18]. Gray is the largest owner of top-rated local television stations and digital assets in the United States ("U.S."). 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. 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. Thank you for signing up to Broadcasting & Cable. Gray announces significant expansion to National Investigative Team. Circle is a Country lifestyle network joint venture with partner Opry Entertainment Group, a subsidiary of Ryman Hospitality Properties. Googles GNI Innovation Challenge selects Gray as the only broadcast to receive funding by supporting a multi-platform journalism project focused on health disparities called Bridging the Great Health Divide Mississippi Delta and Appalachia.. They own and operate stations in 44 markets, broadcasting 139 streams including 76 affiliates of. Newspaper leaders resigned during this periodfrom the corporate president in late 1995 to the Citizens' editor and publisher. This brought the company total to $534.5 million in available funds with $409.5 million directly available. Connecting with communities will always remain central to our mission. 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. [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 Company acquired KSNB-TV (Lincoln, NE), and it constructed and launched new HD television stations WRGX-TV (Dothan, AL) and KNPL-TV (North Platte, NE). Harriett J. Robinson joined the Board of Directors. Their corporate memo to local stations dictates the promo be scheduled to create maximum reach and frequency.. Because of your generous donations, our #HealTheHeartland campaign has raised more than half-a-million dollars to date!" In a new digital-centric arena, our leadership team featured here provides the support and vision that empowers each member of our company to navigate industry shifts as well as grow, thrive and deliver positive impact to those around us. I have no business relationship with any company whose stock is mentioned in this article. It also acquired KTVE-TV (Monroe, LA/El Dorado, AK). Sign up below. During the first two quarters of 2020, on a combined historical basis, our television stations sold $79 million in political ads. Concurrent with the Benedek acquisition, Gray acquired KOLO-TV (Reno, NV) from Smith Television Group, T.L. Omaha is also popular for our booming downtown which is home to a revitalized riverfront and the Historic Old Market. WRDW-TV was purchased in January 1996. Subsidiaries to Gray Television include KY3. Since Election Day, November 3rd, Grays local television stations and digital platforms serving communities in the State of Georgia have run approximately $20 million (net) in political campaign and political issue advertisements related to the two run-off election races for U.S. Senate seats in Georgia. John Thune, Marsha Blackburn, Amy Klobuchar, and Ted Cruz, sit on the Senate subcommittee tasked with overseeing the FCC. The Company also sold WALB-TV (Albany, GA). 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. 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. In 1960, Gray purchased WJHG-TV in Panama City, Florida, and followed it later in the decade with KTVE serving Monroe, Louisiana and southern Arkansas. Is this happening to you frequently? Gray is the largest owner of top-rated local television stations and digital assets in the United States ("U.S."). The Company launched a new logo, website, and mission statement, establishing for itself a new brand of excellence and localism based on the strength of its employees. Jacqueline Policastro, the Washington bureau chief for Gray Television, was among those at a special White House dinner after Trump addressed Congress last year. InvestigateTV was launched in 2018 and provides innovative, original journalism from a dedicated investigative team and key partners. We have a strong and influential leadership team that empowers each member of our company to grow, thrive and deliver positive impact to those around us. The Company announces that Greta Van Susteren has joined Gray as Chief National Political Analyst. The smarter way to stay on top of broadcasting and cable industry. [4] Gray purchased two TV stations (WKYT-TV and WYMT-TV) from the failed and government-seized Kentucky Central Insurance Company in September 1994 after a court challenge to the sale by Kentucky Central builder Garvice Kincaid. One of Sinclairs local anchors who remained anonymous for fear of retribution told CNN: I felt like a POW recording a message, [] On its face, some of the language is not controversial. 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 Television's roots begin in January 1891 with the creation of the Albany Herald in Albany, Georgia. The Gwinnett Daily Post increased circulation in 1997 through a deal with Genesis Cable Communications to provide the paper to its metro Atlanta subscribers at Genesis's expense. [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. Gray Television (NYSE:GTN, NYSE:GTN.A) is a television broadcast company based in Atlanta. James Harrison Gray, Sr. acquired the Herald Publishing Company. The Company purchased KMVT-TV and KSVT-TV (Twin Falls, ID) from Neuhoff Media. The parties later agreed to a settlement. While the number of people opting not to pay for television continues to increase, this hasn't impacted Gray as these viewers are simply moving from cable to antenna. Yes, Gray Television drug tests. The Company wins 57 Regional Edward R. Murrow Awards for excellence in journalism in 23 Markets. Gray announces its acquisition of Meredith Corporations Local Media Group for $2.7 billion. The Company reached an agreement with Mt. Grays Emmy award winning production company, Tupelo Honey, celebrates its 25th anniversary. The Company closed on the swap of KAKE-TV (Wichita, KS) for WBXX-TV (Knoxville, TN). Future US, Inc. Full 7th Floor, 130 West 42nd Street, Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. [22], The sale was completed on June 13, 2014. 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