The Company subsequently announced the divestiture of all the radio stations and certain television stations to facilitate regulatory approvals. The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. 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. It also acquired KTVE-TV (Monroe, LA/El Dorado, AK). The price per share dropped to $8. The Company acquired the Goshen News daily newspaper (Goshen, IN). [3] WALB was thus sold to Liberty Corp.'s Cosmos Broadcasting in August 1998. [3], Also in September 1996, Ralph Gabbard, the newly named president and CEO, died from a heart attack at age 50. We are the hometown of the Father of Country Music, Jimmie Rodgers, award winning actress Sela Ward, and the home of the new Mississippi Arts and Entertainment Experience. Gray had started to focus on its TV station segment over the newspaper holding while TV produced more income and the newspapers' income were declining. [35][36] On February 16, 2017, Gray announced that it would acquire WABI-TV in Bangor, Maine and WCJB-TV in Gainesville, Florida from Diversified Communications for $85million. John Thune, Marsha Blackburn, Amy Klobuchar, and Ted Cruz, sit on the Senate subcommittee tasked with overseeing the FCC. Gray Television is in the broadcast media industry. I consent the use of my personal data in accordance with Future's. In this Gray TV guide to political ads, we'll break down the federal rules on political advertising. John Dean (of Watergate notoriety) observed. Just last month, Gray Television Inc. and Raycom Media Inc. announced a $3.6 billion merger that would make them the third-largest TV . The Company purchased WAGM-TV (Presque, ME) from NEPSK, Inc. The Company purchased the Hoak Media stations: KVLY-TV (Fargo-Valley City, ND); KSFY-TV/KABY-TV/ KPRY-TV (Sioux Falls, SD); KFYR-TV/ KMOT-TV, KUMV-TV/ KQCD-TV (Minot-Bismarck, ND); KALB-TV (Alexandria, LA); KNOE-TV (Monroe-El Dorado, LA); KNOP-TV and KIIT-LP (North Platte, NE). If they are able to grow by 77% again this cycle you're looking at political revenue of $152 million. In this Gray TV guide to political ads, we'll break down the federal rules on political advertising. Putting all the segments together, we use management's forecast for retransmission fees as outlined in the May investor presentation. They seem to do a good job building team chemistry and my coworkers seem like nice people. 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? 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. This seesaw motion isn't random, it matches the election cycle. We use cookies to ensure that we give you the best experience on our website. Our staff is truly a family that works together to continue the tradition of excellence that defines WTOK and our community. Loan covenants could have forced the company into default. The Company launched start-up station WCAV-TV in Charlottesville, VA. Former U.S. Omaha is also popular for our booming downtown which is home to a revitalized riverfront and the Historic Old Market. . Gray and ViacomCBS announces multi-year agreement to renew all 47 of Grays CBS affiliations. Mansfield Television, Inc. to acquire WCAX (CBS) in Burlington, Vermont-Plattsburgh, New York. ". The promo script, they say, belies Sinclair managements actual agenda to tilt reporting to the right. [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 bureau was designed to provide enhanced coverage of national political issues for Gray's local stations. The Company purchased KEVN-TV/KIVV-TV (Rapid City, SD) from Mission TV, LLC. The Company purchased KCRG-TV (Cedar Rapids, IA) from The Gazette Company. Meeting new people in the reporting area of the business. If you have an ad-blocker enabled you may be blocked from proceeding. " THANK YOU!! The Company purchased KKCO-TV (Grand Junction, CO), WSWG (Albany, GA), and WSAZ-TV (Huntington, WV) in three separate transactions.In addition, the Company spun off its five daily newspapers and wireless messaging business into the newly formed Triple Crown Media. Layoffs hit the WCAX newsroom about a year later. Gray closes on acquisition of previously announced Meredith Corporations Local Media Group. The dividend is payable on March 31, 2023, to shareholders of Gray Television is an unmatched broadcast pioneer that keeps getting bigger and better. Ballots will include all 435. Politicians buy ad time to help them reach voters. Want to explore some other great places to work in Atlanta, GA? Gray contributed distribution and marketing capabilities, multicast knowledge and affiliate Gray TV stations. The Company launches a syndicated Weekend Political Show Full Court Press with Greta Van Susteren. [3], In 1994 and 1995, Gray purchased two newspapers, the Rockdale Citizen (acquired May 31, 1994) and Gwinnett Post-Tribune (acquired January 1995; quickly renamed Gwinnett Daily Post) and seven advertising weeklies. [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. TIMELINE The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. We support local community interests by providing quality television broadcasting and exceptional service in each market we serve. We know that the world is waking up to its environmental responsibility. Mr. Prather resigned from all positions with the Company. [15] A new strategy of purchasing stations in college towns or capitals was put into place. The pattern gets more interesting as you dig into the segments. Sinclair Broadcasting, the largest owner of local TV stations in the U.S., is widely known as a champion of right-wing GOP causes. [52], On February 1, 2021, Gray Television announced its intent to acquire all Quincy Media's broadcasting properties for $925 million in cash. Employees at the parent company, Gray Television, earn $52,796 whereas employees at KY3 earn $48,178, on average. [3][4], The company was then taken public on NASDAQ's small-cap market in the 2nd quarter 1992.
The company put itself-or any part up-for sale by the end of 1992. 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 Company merged with Bostick Broadcasting and its television stations, KWTX-TV (Waco, TX), KBTX-TV (Bryan-College Station, TX), and KXII-TV (Sherman, TX). [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. 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. [34] On June 3, 2016, it was announced that Gray would acquire two stations that were spun-off from the Nexstar-Media General merger; KWQC-TV in Davenport, Iowa and WBAY-TV in Green Bay, Wisconsin for $270million. Howell later clarified that beating the 2020 presidential year record of $652 million is aspirational, and not reflected in Grays financial projections. By ensuring that our talent has the independence to tell the stories that matter most, we are fostering a team of empowered newsroom leaders who are truly engaging and connecting with communities. On January 1, Circle officially launches. Gray Television is ranked #13 on the Best Media Companies to Work For in Georgia list. The Company reached an agreement with Mt. 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. Gray is the largest owner of top-rated local television stations and digital assets in the United States ("U.S."). The green segment, retransmission, is fees paid by cable or satellite operators to carry their programming. Gray consummated its transformative transaction with Raycom Media, Inc., including the divestitures of nine television stations in overlap markets. Good foot in the door to broadcasting. 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. I am not receiving compensation for it (other than from Seeking Alpha). We own and/or operate television stations and leading digital properties in 113 television markets that collectively reach approximately 36 percent of US television households. 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. The new tweet, correcting her mistake, had just 95 retweets at the time of this writing. [45] The sale was approved by the FCC on December 20, 2018. Kevin Latek, chief legal and development officer at Gray, noted that the target of $575 million is already 25% ahead of 2020 after excluding the spending for the presidential race and two Senate runoffs in Georgia, which wont exist this year. The Company also sold WALB-TV (Albany, GA). I felt like that job gave me very important skills that Ill take with me in every job to come & be extremely valuable for. 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. Robinson, Bull Run's chair, took over as interim CEO and president with Bull Run CEO Robert Prather as interim executive vice-president, acquisitions. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. In 2012, Gray covered roughly 6% of US households (which was the same percent in 2008), through acquisition and expansion they now cover 8%. Barry Lewis, Richard L. Boger and Howell W. Newton joined Gray's Board of Directors, and James H. Gray, Jr. resigned from the Board. Gray completes its acquisition of Quincy Media and its sale of ten Quincy stations to Allen Media. Grays television stations raise $12.6 million in donations benefiting local residents and local organizations in need during March and April 2020. []At the end of the promo, viewers are encouraged to send in feedback if you believe our coverage is unfair. The instructions say that corporate will monitor the comments and send replies to your audience on your behalf. In other words, local stations are cut out of the interactions with viewers. Report of unscheduled material events or corporate event.
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. Connecting with communities will always remain central to our mission. Fortune Magazine announced that Gray Television ranked 96th in its ranking of the Top 100 Fastest Growing Companies in the World for 2017. Want to be in the middle of it all There are plenty of new and renovated condos ready for you to call home. 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. David Zaslav, who led the merger with CNN and Discovery, donated over $240,000. Unfortunately,some members of the national mediaare using their platforms to push their own personal bias and agenda to control exactly what people think This isextremelydangerous to our democracy., Then the anchors are supposed to strike a more positive tone and say that their local station pursues the truth. Additionally, the FCC incentive auction starts in 2016 and the current valuation assigns no value to the spectrum assets. He added that the gambling, home improvement and legal categories also continue to grow. Gray owns and operates television stations in 31 markets across the country, broadcasting over 85 distinct channels of programming and operating dozens of local digital and mobile platforms. During that period, Gray Television divested all the newspapers and television stations that it owned prior to 1993 other than WJHG. Gray considered the possibility of purchasing the Young stations if the group went on the market. I am now the local media. 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. CEO Hilton Howell named President. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity. . Install LED lighting technology across studio complex. Gray Television generates $2.1B in revenue. The Company purchased Yellowstone Television stations KGNS-TV (Laredo, TX), KGWN-TV/KSTF-TV and KCHY-LP (Cheyenne, WY) and KCWY-TV (Casper, WY). The Company wins 57 Regional Edward R. Murrow Awards for excellence in journalism in 23 Markets. 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 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 . 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. 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. 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 and NBC enter into TV Everywhere Agreement, and the Company launches all of its CBS stations on the CBS All Access platform. 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. Gray partners with the Salvation Army to produce and broadcast Heal the Heartland to raise money for relief efforts around the massive Midwest tornado. Newspaper leaders resigned during this periodfrom the corporate president in late 1995 to the Citizens' editor and publisher. 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. The Company closed on the swap of KAKE-TV (Wichita, KS) for WBXX-TV (Knoxville, TN). WASHINGTON Greta Van Susteren will launch a syndicated weekly show for Gray Television in September that will focus on the impact of politics and policy on local communities. Keeping the water above ground provides the opportunity to use above ground water structure as an amenity for the development in the public park and other uses for the property. Recycled 88 acres of concrete and existing structure on the site when we purchased the property. Both Senate candidates lost . The Company opens newly remodeled 20,000 sq. 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 purchased KMVT-TV and KSVT-TV (Twin Falls, ID) from Neuhoff Media. 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. The services would consist of a broadcast diginet and an OTT streaming platform. raised $80 million online during that period; Ms. Loeffler and Mr. Perdue combined for closer to $75 million. You can check out our full list of. 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". [13], The company had overpaid for a pair of stations and was over leveraged like many other station groups entering the Great Recession. I think its going to be a gargantuan year in this mid-year election. I enjoy the people I've worked with and come across. 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.. AP Photo/Charles Dharapak, File. Focusing on the four largest segments of the pie, local, national and political refer to advertising dollars. The Company purchased fourteen television stations from Benedek Broadcasting: WMTV-TV (Madison, WI), WOWT-TV (Omaha, NE), KKTV-TV (Colorado Springs, CO), KAKE-TV (Wichita, KS), WIBW-TV (Topeka, KS), WIFR-TV (Rockford, IL), WILX-TV (Lansing, MI), WTVY-TV (Dothan, AL), WBKO-TV (Bowling Green, KY), WTOK-TV (Meridian, MS), WSAW-TV (Wausau, WI), WTAP-TV (Parkersburg, WV), WVAW-TV (Charlottesville, VA) and WHSV-TV (Harrisonburg, VA). The Company purchased WQCW-TV (Charleston, WV) from Lockwood Broadcasting. To comply with federal regulators, Gray would divest Quincy stations in Tucson; Harrisburg, Illinois; Waterloo/Cedar Rapids, Iowa; and Madison, La Crosse, and Wausau in Wisconsin over to Allen Media Group. Broadcasting+Cable is part of Future US Inc, an international media group and leading digital publisher. We are business leaders in our local economies and servant leaders in our communities. Still, Gray has become a powerful media and news presence in Minnesota. But that's probably not the whole story. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. Vermonts own little TV station, WCAX, formerly locally owned and managed, was scooped up last year not by Sinclair but by Gray Television. Hall of Fame Resort & Entertainment Company and Grays Tupelo Honey announce the formation of a media partnership to produce the unscripted series INSPIRED: Heroes of Change.. Gray purchases Third Rail Studios in Doraville, Georgia. The Albany Herald converted to a morning publication to serve better the needs of southwest Georgia. The parties later agreed to a settlement. The Company entered the television business when it constructed WALB-TV (Albany, GA) to complement its radio station, WALB(AM). 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. We are committed to working hard to reduce the construction's impact on the environment. Building from $26 million in political spending for the first quarter, Gray is expecting $65 million to $70 million this quarter, to take the first half total to a range of $91 million to $96 million. But thats precisely why some staffers were so troubled by it. Concrete was crushed on site and reused as Graded Aggregate Base (GAB) under the roadways and new structure slabs. Mr. Deaver resigned from the Board of Directors. The Company announced its purchase of all of the television and radio stations owned by Schurz Communications, Inc. The Company renewed over 250 retransmission consent agreements at year-end with no disruptions to local viewers. The company runs a corporate political action committee that has donated to dozens of congressional Democrats and Republicans across the ideological map. Gray would divest nine stations in markets where Gray and Raycom both already owned stations, including WTNZ, WTOL, KXXV, WTXL, WFXG, KWES-TV, WPGX, WSWG, and WDFX-TV. Help us make this company more transparent. There are many outstanding restaurants and local festivals throughout the year. The Company closed its acquisition of television stations from Schurz Communications, Inc. and related station acquisitions and divestitures with other counter-parties. 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. . During the first two quarters of 2020, on a combined historical basis, our television stations sold $79 million in political ads. Gray announces significant expansion to National Investigative Team. Sign up below. 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. 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. 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. 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. Local news is the most desired location for most political advertisers. 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. Presented another way, below you can see what political represents as a percent of total revenue for the year. [4] This caused difficulties as two of the three wanted to sell with the third unable to purchase. The data presented on this page does not represent the view of Gray Television and its employees or that of Zippia. Gray and Meredith amend purchase agreement to increase purchase price to $2.825 billion and make certain other changes favorable to Gray.
The Company agrees to acquire WVIR (NBC) in Charlottesville, Virginia, and to divest television stations WCAV (CBS/FOX) and WVAW (ABC) in that market. The joint venture is based in Nashville under general manager Drew Riefenberger. 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. Advertising revenues dropped. 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 reached an agreement with Nexstar Broadcasting Group, Inc. to acquire two television stations that Nexstar will divest upon its merger with Media General, Inc.: WBAY (ABC), in Green Bay, Wisconsin, and KWQC (NBC) in Davenport, Iowa, both previously owned and operated by Media General. James Harrison Gray, Sr. acquired the Herald Publishing Company. Please refresh the page and try again. FOX CAROLINAS GIVE BLOOD CAROLINA MAKES A BIG DIFFERENCE FOR LOCAL PATIENTS AND THE RED CROSS! James C. Ryan, formerly CFO of Busse Broadcasting Corporation, named Vice President and Chief Financial Officer. 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 purchased WJRT-TV (Flint-Saginaw-Bay City, MI) and WTVG-TV (Toledo, OH) from SJL Holdings, LLC. 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. 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. Gray Television Chairman-CEO Hilton Howell was upbeat, to say the least, when describing the outlook for political ad spending this year. 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. 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. Gray's television stations raise $12.6 million in donations benefiting local residents and local organizations in need during . The Company reached an agreement with Withers Broadcasting Company to acquire WDTV (CBS) and WVFX (FOX/CW) in Clarksburg, West Virginia. The Company purchased the operations other than the FCC licensed assets of six stations: KHAS-TV (Lincoln-Hastings, NE) from Hoak Media; KNDX-TV/KXND-TV (Minot-Bismarck, ND) from Prime Cities Broadcasting; KJCT-TV (Grand Junction, CO) from Excalibur Broadcasting; and KXJB-TV (Fargo, ND) and KAQY-TV (Monroe, LA) from Parker Broadcasting. [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. Gray now owns nine of the top ten ranked NBC affiliates in the country. Didn't like having to work most holidays. Grays Emmy award winning production company, Tupelo Honey, celebrates its 25th anniversary. This time-proven company loves to hire graduates from Florida State University, with 12.8% of its employees having attended Florida State University.
[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 selected by TVNewsCheck as "2016 Station Group of the Year". And the Federal Communications Commission makes the rules. As a result, Grays total net political revenue for the calendar year 2020 will exceed the $400 million level that was crossed yesterday. The Company closes the sale of WCAV-TV (CBS/FOX) and WVAW (ABC) and the purchase of WVIR-TV (NBC), all in Charlottesville, Virginia. Gray partners with the Salvation Army to produce and broadcast Lift Up Louisiana to raise money for Hurricane Ida relief efforts. The National Association of Broadcasting Educational Foundation chose Gray's WJRT (ABC) in Flint, Michigan, as the winner of its 2018 Service to Community Award in the Media Market category and WCTV (CBS) in Tallahassee, Florida, as the winner in the Small Market category. Gray Television competitors include Nexstar Media Group, KY3, KESQ, WTOP News, Media Production, WBOC TV16, KKTV 11 News, WLUK-TV FOX 11, WSOC-TV, WTHR-TV, WKTV, KOTA Territory News, KCBD, WBKO, Kndu-tv, WJTV, Landmark Community Newspapers, Inc., WEVV 44News, WDBJ7, KPTV Fox 12 Oregon. 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. Hilton Howell donated The Company launches Full Court Press Now a late night newscast providing the latest developments on COVID-19 Pandemic. The signature component of Assembly Atlanta development is the 43-acre Assembly Studios complex featuring soundstages, productions offices, warehouse and mill buildings, studio bungalows, event space, and parking decks. 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