James Murdoch, who left the family Fox News business, donated over $2.25 million. The current share price is valuing the existing business and assigns no value to future deals. " THANK YOU!! 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 Broadcasting, the largest owner of local TV stations in the U.S., is widely known as a champion of right-wing GOP causes. The table below compares EBITDA margins across competitors. The Company and NBC enter into TV Everywhere Agreement, and the Company launches all of its CBS stations on the CBS All Access platform. At today's valuation of 17x earnings this accounts for the entire market cap. We use cookies to ensure that we give you the best experience on our website. The Company closed on the swap of KAKE-TV (Wichita, KS) for WBXX-TV (Knoxville, TN). Gray is the largest owner of top-rated local television stations and digital assets in the United States ("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. The largest donation made to a political party by a Gray Television employee was The Company reached an agreement with Diversified Communications to acquire WABI (CBS/CW) in Bangor, Maine and WCJB (ABC/CW) in Gainesville, Florida. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. 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 combined company would be led by Raycom's current president and CEO Pat LaPlatney, with current Gray CEO Hilton Howell acting as executive chairman and co-CEO. 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. 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. [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. The Board of Directors unanimously voted to expand the Board by one seat and elected Richard B. Hare as a Director to fill that position. [38][39], In April 2017, Gray Television filed a lawsuit against Nick Prueher and Joe Pickett, founders of the Found Footage Festival, for fraud and copyright infringement, after having booked an appearance on the morning show of a Gray station as a fake strongman act, "Chop and Steele", and utilizing the footage during their show. 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]. Gray Televisions WVUE (FOX, New Orleans, Louisiana) receives three Sigma Delta Chi Awards from The Society of Professional Journalists. 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. Total 2016 revenue could be as much as $654 million. Meanwhile, though, Gray has added more local news programs in many markets, effective April 1, as three syndicated shows came to an end. [57], On May 3, 2021, Gray announced plans to buy the television division of Meredith Corporation for $2.7 billion. 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. Future US, Inc. Full 7th Floor, 130 West 42nd Street, Gray, The Grand Ole Opry and Circle Network partner for live Opry broadcasts to raise money for Feeding America. Chairman & CEO, Hilton H. Howell, Jr., along with several other executives, rang the Closing Bell at the New York Stock Exchange to commemorate the Companys acquisition of Raycom Media, Inc. On August 20, KTVE was sold for cash and accounts receivable. The dividend is payable on March 31, 2023, to shareholders of Gray Television is an unmatched broadcast pioneer that keeps getting bigger and better. Concrete was crushed on site and reused as Graded Aggregate Base (GAB) under the roadways and new structure slabs. 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. The Company purchased WAGM-TV (Presque, ME) from NEPSK, Inc. During the presidential election Sinclair and the Trump campaign struck a deal in order to gain favorable media coverage .Recently they started a promotional campaign for their local news outlets to broadcast. Fortune Magazine announced that Gray Television ranked 96th in its ranking of the Top 100 Fastest Growing Companies in the World for 2017. If you continue to use this site we will assume that you are happy with it. The Company acquired the Goshen News daily newspaper (Goshen, IN). One concern that is popular today is the risk of "cord cutters" - the younger generation that opts for Hulu and Netflix over traditional television. Then assume that traditional advertising grows 4% per year - inline with industry forecasts and historical performance - and combine it with our estimate of $200 million of political. I felt like that job gave me very important skills that Ill take with me in every job to come & be extremely valuable for. 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. 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. The Company launches a syndicated Weekend Political Show Full Court Press with Greta Van Susteren. Although the automotive category is struggling, other categories are growing. Gray Televisions Chairman and CEO, Hilton H. Howell, Jr. is named Broadcast & Cables Broadcaster of the Year (2019). KWCH Partners with United Way of Reno County to Help Cottonwood Complex Fire Victims, KWCH and KLF Raise $1.9 Million for Wildfire Relief, ABC21 ANNOUNCES EXPANSION, LAUNCH OF 7 P.M. NEWSCAST, KWCH Partners with KLF on Wildfire Relief Fund, NBC15 Share Your Holidays final meal count revealed, Gray Television's 4th Quarter 2022 Earnings Call - February 24 @ 11:00am ET, Gray Television's 3rd Quarter 2022 Earnings Call - November 4 @ 11:00am ET. Broadcast TV stations rely on advertising to make money. And Gray has been introducing its sales training throughout the newly acquired Meredith stations as it did previously with the former Quincy Media stations. Several recipients of Nexstar donations, including Sens. $21,800 to the Republican Party. The Company announced the passing of its Chairman since 1993, Dr. Billy Mayher, III. Gray is the largest owner of top-rated local television stations and digital assets in the United States ("U.S."). Jacqueline Policastro, the Washington bureau chief for Gray Television, was among those at a special White House dinner after Trump addressed Congress last year. Gray and Meredith amend purchase agreement to increase purchase price to $2.825 billion and make certain other changes favorable to Gray. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. [3][4], The company was then taken public on NASDAQ's small-cap market in the 2nd quarter 1992. [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. Total revenue has increased 88% from 2009 to 2014 in almost a straight line. 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. 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. TIMELINE The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. December 16, 2020 08:53 ET 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. Between the early 1990s and today, the company was transformed through strategic acquisitions and subtle, yet critical transitions. Open Secrets which tracks political donations made by individuals shows that employees at AARP have donated $96,381 in the 2020 election cycle, most of which went to Democratic candidates. Van Susteren told The LA Times: [] she expects Grays geographical reach to help in booking presidential candidates to appear on the program. After the spinoff, the total enterprise value of the transaction for Gray will be $2.7 billion. . To stay at the top we need to work hard every day and hire the right people. Loan covenants could have forced the company into default. Gray Television Digital Content Producer Jobs, Gray Television Investigative Reporter Jobs, Gray Television Freelance Videographer/Editor Jobs, Gray Television Production Assistant Jobs, Gray Television Digital Marketing Coordinator Jobs, Phase 3 Marketing and Communications Jobs. Connecting with communities will always remain central to our mission. The Company announced the election of Beth Neuhoff to its Board of Directors. 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). Assume the current net income margin of 10% holds, you get net income of $65 million. 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. Gray Television ( NYSE: GTN, NYSE: GTN.A) is a television broadcast company based in Atlanta. [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. 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. Dress codes may also take the form of casual or professional, depending on the department at Gray Television. [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. NextGen TV Will Help Broadcasters Compete with Digital Political Platforms, He Tells Media Institute. TV-news veteran Greta Van Susteren has joined Gray Television as a national political analyst who will provide news operations at the company's TV stations with . The company was considered in 1996 by Fortune magazine as the 81st fastest growing company, having a 48% percent growth rate. 1897 Want to explore some other great places to work in Atlanta, GA? Gray is a well run-business with a number of near-term tailwinds. If we take that $152 and gross it up for have 33% more household coverage, they have the potential to earn over $200 million of political 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). Jon Decker White House Correspondent and Senior National Editor. ". 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. 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. 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