[13], On July 30, 2009, Gray was awarded a contract to manage seven Young Broadcasting-owned stations. Visit our corporate site (opens in new tab). The Company closed its acquisition of television stations from Schurz Communications, Inc. and related station acquisitions and divestitures with other counter-parties. Gray Television is known to have a strict drug testing policy. The Albany Herald converted to a morning publication to serve better the needs of southwest Georgia. Gray closes on its acquisition of Raycom Media, Inc. and all required divestitures. The Company changed its name to Gray Television, Inc. Ray Deaver, who formerly oversaw KWTX-TV, KBTX-TV, and KXII-TV joined Gray's Board of Directors. Copyright 2023 Gray Television, Inc. All Rights Reserved. Now some will read that as a "fair" or "full" price. [13] On November 4, 2013, Gray Television announced that it would purchase Yellowstone Holdings for $23million, adding local stations: KGNS-TV, KGWN, KCWY, and KCHY-LP. 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. Is this happening to you frequently? The Company announced the passing of Second Founder J. Mack Robinson. ". Overall, at Gray TV stations in 95 markets - even through a longer-than-ever political process which began in early 2019 - 53% Local news is the most desired location for most political advertisers. Im going to reach their voters.. They had Gray purchase 14 Benedek Broadcasting stations while that company was in bankruptcy. [22], The sale was completed on June 13, 2014.
The Company subsequently announced the divestiture of all the radio stations and certain television stations to facilitate regulatory approvals. Gray Television generates $2.1B in revenue. Gray closes on acquisition of previously announced Meredith Corporations Local Media Group. 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. I think its going to be a gargantuan year in this mid-year election. 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. In September 2021, Gray Television purchased Doraville-based Third Rail Studios for $27.5 million. I learned a great deal of skills in a short period of time. John T. Williams named President and Chief Executive Officer. I consent the use of my personal data in accordance with Future's. Please disable your ad-blocker and refresh. Putting all the segments together, we use management's forecast for retransmission fees as outlined in the May investor presentation. Even so, the original tweet, which had accumulated thousands of retweets, remained up and continued to be shared. Require all tenants to utilize studio driven green initiatives across all their productions. Fortune Magazine announced that Gray Television ranked 96th in its ranking of the Top 100 Fastest Growing Companies in the World for 2017. Gray sells divestiture stations from the Quincy Media transaction to Allen Media for $380 million to facilitate its acquisition of Quincy Media. We are committed to working hard to reduce the construction's impact on the environment. The pattern gets more interesting as you dig into the segments. 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. If they are able to grow by 77% again this cycle you're looking at political revenue of $152 million. Howell later clarified that beating the 2020 presidential year record of $652 million is aspirational, and not reflected in Grays financial projections. While our footprint is expanding, we remain committed to keeping news local and doing what we can to ensure our stations continue to remain fixtures in their communities. Gray intended to turn KNHL into a satellite of its NBC affiliate KSNB-TV. The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. The Company reached an agreement with Diversified Communications to acquire WABI (CBS/CW) in Bangor, Maine and WCJB (ABC/CW) in Gainesville, Florida. In total, Gray owns and/or operates television stations and leading digital properties across 94 television markets, including the number-one rated television station in 68 markets and the first or second highest rated television station in 86 markets. 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. The Company closes the sale of WCAV-TV (CBS/FOX) and WVAW (ABC) and the purchase of WVIR-TV (NBC), all in Charlottesville, Virginia. Work from Nielsen shows this mid-single-digit growth continuing. Please refresh the page and try again. Gray and Meredith amend purchase agreement to increase purchase price to $2.825 billion and make certain other changes favorable to Gray. 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. 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. [58] It is revealed that Allen Media Group would purchase WJRT-TV in Flint for $70 million. The Company purchased KMVT-TV and KSVT-TV (Twin Falls, ID) from Neuhoff Media. 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. Recycled 88 acres of concrete and existing structure on the site when we purchased the property. 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%. Politicians buy ad time to help them reach voters. The Company purchased WAGM-TV (Presque, ME) from NEPSK, Inc. New York, 3 Local TV Group", "Gray Receives Regulatory Approvals for Raycom Media and Divestiture Transactions", "Gray Completes Acquisitions for Raycom Media and Related Transactions", "Gray Teams With Grand Ole Opry On TV Network", "Circle TV Network Lineup Announced: Opry Live, Elizabeth Cook Series - Rolling Stone", "Gray Television Acquires Quincy Media For $925 Million In Cash", "Gray Television Closes Quincy Acquisition", "Gray TV company to remake former GM plant into Georgia's largest 'Studio City', "Former GM plant set to transform into massive film production site", "Gray Television purchases Doraville's Third Rail Studios for $27.5 million", "Gray Television to Acquire Meredith TV Stations for $2.7 Billion", "Allen Media Group Pays $70M To Acquire Gray Television's WJRT, An ABC Affiliate In Michigan", "Gray Television Closes On Acquisition of Meredith Corporations Local Media Group", "Gray Sees Young Stations As Possible Buy", "Greta Van Susteren to Launch 'Full Court Press' for Gray Television", sorted by primary channel network affiliations, https://en.wikipedia.org/w/index.php?title=Gray_Television&oldid=1130568035, 1946 establishments in Georgia (U.S. state), Companies listed on the New York Stock Exchange, Television broadcasting companies of the United States, Articles with dead external links from April 2019, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 30 December 2022, at 21:04. In this Gray TV guide to political ads, we'll break down the federal rules on political advertising. We calculated the diversity score of companies by measuring multiple factors, including the ethnic background, gender identity, and language skills of their workforce. Newspaper leaders resigned during this periodfrom the corporate president in late 1995 to the Citizens' editor and publisher. 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%. Between the early 1990s and today, the company was transformed through strategic acquisitions and subtle, yet critical transitions. 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. [21] On March 25, 2014, Prime Cities Broadcasting, owner of KNDX/KXND, requested that the FCC dismiss the sale of KNDX/KXND to Excalibur. The Company acquired daily newspapers The Rockdale Citizen (Conyers, GA) and The Newton Citizen (Newton County, GA), plus four weekly advertising shoppers and a weekly newspaper in southwest Georgia. Gray announces that it has entered into agreements with the ABC network, CBS network and NBC network that extend the terms of the affiliation agreements for all ABC, CBS and NBC affiliated stations acquired in the Raycom Merger as well as the ABC affiliations for all of the legacy Gray stations. Gray COO Bob Smith noted that there was already some displacement of regular advertisers by political spots in the first quarter.
CNN reports: The promos begin with one or two anchors introducing themselves and saying Im [we are] extremely proud of the quality, balanced journalism that [proper news brand name of local station] produces. 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. Best Companies to Work For in Atlanta, GA, Best Media Companies to Work For in Georgia, Best Media Companies to Work For in Atlanta, GA. What Is The Dress Code At Gray Television? The Company began providing sales and other services to KJCT-TV (Grand Junction, CO). Health Care, Dental Care, & Free Parking (if in the city). 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. [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. Atlanta, April 08, 2019 (GLOBE NEWSWIRE) -- Gray Television, Inc. ("Gray," "we," or "our") (NYSE: GTN) announced today that it will launch a new weekly program this September called "Full. The Company announced the opening of its Washington D.C. News Bureau. Mansfield Television, Inc. to acquire WCAX (CBS) in Burlington, Vermont-Plattsburgh, New York. I think it will likely rival, if not exceed, any previous presidential election, the CEO said. The acquisition, which Gray expected to close in late 2018, would give Gray 142 stations in 92 markets, making Gray the third-largest owner of television stations in the United States, with a total market share of 24%. 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. The Company agrees to acquire WVIR (NBC) in Charlottesville, Virginia, and to divest television stations WCAV (CBS/FOX) and WVAW (ABC) in that market. You will receive a verification email shortly. There will be markets where ATSC 3.0 will matter, he said and it will increase during the next four year. Gray Television, Inc. is an American publicly traded television broadcasting company based in Atlanta, Georgia. Attending the Trump administrations effort to court and spark local TV news markets were reporters from Hearst, Scripps, Cox, Nexstar, and naturally, Sinclair. Still, Gray has become a powerful media and news presence in Minnesota. This is a place for dedicated, ambitious team players who pursue meaningful news stories. We are business leaders in our local economies and servant leaders in our communities. Hilton Howell donated raised $80 million online during that period; Ms. Loeffler and Mr. Perdue combined for closer to $75 million. The Company announced that it would directly represent essentially all of its television stations in national sales, ending its long-standing national ad rep relationships as of the first of the new year. Politics begins in local markets, Van Susteren said. [40][41], On May 21, 2018, Gray Television entered into an agreement to acquire KNHL from Legacy Broadcasting for $475,000. [25][26] The sale was completed on September 15.
The Company entered the television business when it constructed WALB-TV (Albany, GA) to complement its radio station, WALB(AM). [3], Also in September 1996, Ralph Gabbard, the newly named president and CEO, died from a heart attack at age 50. [The Mueller investigation later vigorously denied the claim in a court filing]. In September 1996 a basket purchase from First American Media, Inc., Gray got two TV stations (WCTV and WVLT-TV), Satellite and Production Business Services, which was renamed Lynqx Communications and PortaPhone paging business. Hugh E. Norton joined Gray's Board of Directors. His summary confirmed earlier reports on the extraordinary reliance on broadcast political advertising this year, even with the impact of early voting in many states. Help other job seekers by rating Gray Television. "The television station portfolios . Vermonts own little TV station, WCAX, formerly locally owned and managed, was scooped up last year not by Sinclair but by Gray Television. Robinson, Robert S. Prather, and Hilton H. Howell, Jr. joined Gray's Board of Directors. The Company purchased KOSA-TV (Odessa, TX) from Investment Company of America. The Company launches Full Court Press Now a late night newscast providing the latest developments on COVID-19 Pandemic. The Company partners with Loyola University New Orleans School of Mass Communications to create a "Producer Incubator Lab.". Gray leads fundraising round for Texas-based Envy Gaming. We support local community interests by providing quality television broadcasting and exceptional service in each market we serve. More alarming,national media outlets are publishing these samefake storieswithout checking facts first. Broadcast TV stations rely on advertising to make money. Pat LaPlatney, president and co-CEO, noted that Gray is continuing to focus on adding new local advertisers, with a run rate of $9 million to $10 million in new local direct business being added each month. In remarks that large shared research data from Kantar Medias Campaign Media Analysis Group(CMAG), which monitors political advertising,LaPlatney summarized the trends of the political arena. Gray Television reaches a multi-year deal with Fox Television Network that renews station affiliation agreements covering all of its Fox affiliated stations across 21 markets. The Company purchased Busse Broadcasting Corporation and its television stations, KOLN/KGIN-TV (Lincoln/Grand Island, NE) and WEAU-TV (Eau Claire, WI). 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. Gray then announced in April 2019 Greta Van Susteren as host of a Sunday morning syndicated show, Full Court Press with Greta Van Susteren, which was launched in September 2019.[62]. We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance. 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. Presented another way, below you can see what political represents as a percent of total revenue for the year. While mostly unnoticed until now, after getting the rights to broadcast the gubernatorial debate, it may not go unnoticed . The show, R And while Gray is officially sticking with its official guidance of $575 million, Howell was even more exuberant in off-the-cuff remarks during the company's quarterly conference call Friday morning. The promo script, they say, belies Sinclair managements actual agenda to tilt reporting to the right. Our new travel and tourism team is also making meaningful contributions to our sales efforts, said LaPlatney. [54], In March 2021, Gray Television revealed plans to purchase a shuttered General Motors plant in Atlanta suburb Doraville, Georgia and transform the site into a media production community called Assembly. Gray announces its acquisition of Meredith Corporations Local Media Group for $2.7 billion. The lack of work/life balance & the overall culture of the specific newsroom I worked in. [45] The sale was approved by the FCC on December 20, 2018. The Company reached an agreement with Mt. Loan covenants could have forced the company into default. Contributor Gary Arlen is known for his insights into the convergence of media, telecom, content and technology. We understandTruth is neither politically left or right. Our commitment to factual reporting is the foundation of our credibility, now more than ever.. 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. [27], In July 2015, Gray closed its accounting and human resources offices in Albany (housed in the same building as The Albany Herald), combining them with the corporate offices in Atlanta. 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. The Company and NBC enter into TV Everywhere Agreement, and the Company launches all of its CBS stations on the CBS All Access platform. Gray launched WALB-TV in 1954. This is an opportunity to come to one of the most award-winning stations in Virginia, to live in a great small city and learn how to really hone your craft in a terrific newsroom with a new commitment to technology, resources, and partnerships. Gray announces sale of WJRT-TV (ABC) in Flint, Michigan to Allen Media for $70 million to facilitate its acquisition of Meredith Corporation. Radio Television Digital News Association (RTDNA) awards 57 Regional Edward R. Murrow Awards for excellence in journalism to 26 Gray stations. The Company announced the passing of its Chairman since 1993, Dr. Billy Mayher, III. [35][36] At that time, Gray had already acquired Sioux Falls rival station KSFY. Management will handle it instead. In addition to being in a strong position to capture households, they are also a well run business which knows how to make the most of each unit of revenue. They seem to do a good job building team chemistry and my coworkers seem like nice people. [3] WALB was thus sold to Liberty Corp.'s Cosmos Broadcasting in August 1998. But thats precisely why some staffers were so troubled by it. by Hilton Howell. With two interstate highways and a regional airport offering daily jet service flights to a major hub, Meridian is convenient to everywhere. Its station base consists all ranges of media markets, from as large as Atlanta, to one of the smallest markets, North Platte, Nebraska. 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. I enjoy the people I've worked with and come across. The Company reached an agreement with Withers Broadcasting Company to acquire WDTV (CBS) and WVFX (FOX/CW) in Clarksburg, West Virginia. In addition to network diversification, the business is also well diversified by source of revenue. We'll know a lot more in the coming quarters but the auction process could reveal an undiscovered asset worth hundreds of millions of dollars for Gray - none of which is reflected in the current valuation. Additionally, the FCC incentive auction starts in 2016 and the current valuation assigns no value to the spectrum assets. 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.. Gray Television employees are most likely to be members of the Republican Party. 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). Sinclairs political bent has been a factor in its pending acquisition of Tribune Media. The Company also sold WALB-TV (Albany, GA). [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 announces the initiation of a quarterly cash dividend, the first since the Great Recession. Gray Televisions Chairman and CEO, Hilton H. Howell, Jr. is named Broadcast & Cables Broadcaster of the Year (2019). Knowing the political bias of media outlets allows you to consume a balanced news diet and avoid manipulation, misinformation, and fake news. 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 am not receiving compensation for it (other than from Seeking Alpha). In total they reach 8%+ of US television households as outlined in the graphic below. Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Studios, the producer of PowerNation programs and content, and is the majority owner of Swirl Films. The company bought Gulflink Communications, Inc., a transportable satellite uplink business based in Baton Rouge, Louisiana, in April 1997 to go along with Lynqx. Concrete was crushed on site and reused as Graded Aggregate Base (GAB) under the roadways and new structure slabs. Gray owns local television station and leading digital platforms serving the local markets of Savannah, Augusta, Albany, Columbus, and Thomasville, Georgia. The Company acquired WKYT-TV (Lexington, KY) and WYMT-TV (Hazard, KY), at which time their General Manager, Ralph W. Gabbard, joined Gray as Vice President and Chief Operating Officer. I wrote this article myself, and it expresses my own opinions. Gray Television Chairman-CEO Hilton Howell was upbeat, to say the least, when describing the outlook for political ad spending this year. She previously covered politics at Gray TV's KFYR-TV in Bismarck, N.D. Josh Rultenberg Multimedia Journalist. (January 2nd, 2019). With Raycom Media acquiring a station from AFLAC Broadcast Group, Inc., forcing them to sell WITN-TV to Gray, which was finalized on August 1, 1997. As part of the deal, stations KAQY, KHAS-TV, and KXJB, were proposed to be sold to Excalibur Broadcasting and operated by Gray under a "local marketing agreements". Afsaneh Beschloss, NPR Board of. 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.. . Want to be in the middle of it all There are plenty of new and renovated condos ready for you to call home. In fact, the health category is pacing just slight behind auto. The Company purchased WQCW-TV (Charleston, WV) from Lockwood Broadcasting. The Company announced that it anticipated receiving $90,824,000 in proceeds resulting from the Federal Communications Commissions reverse auction for broadcast spectrum. [13], In 2006, the company spun off its five daily newspapers and wireless messaging business into the newly formed Triple Crown Media,[4][14] later (in 2010) renamed Southern Community Newspapers. 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. 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. 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. [57], On May 3, 2021, Gray announced plans to buy the television division of Meredith Corporation for $2.7 billion. On the right, a nonprofit called 45 Committee poured more than $23 million into the 2016 presidential race to support President Donald Trump. [23][24], On July 24, 2014, SJL Broadcasting announced that it would sell WJRT-TV and WTVG to Gray, for $128million. [3], In 1998, Gray started to expand beyond its Southeast region. Not to be outdone are the fans of our hockey team, the Toledo Walleye. The bureau was designed to provide enhanced coverage of national political issues for Gray's local stations. The Company announced that KSFY-TV will begin broadcasting from its new downtown state-of-the-art Sioux Falls Studio. Meridian is also home to several highly impactful military installations, including NAS Meridian, one of only a few Navy jet fighter training units in the Country. Gray completes its acquisition of Quincy Media and its sale of ten Quincy stations to Allen Media. 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. No concrete was hauled off site or shipped to landfills. 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 . 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. . 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