Company Overview - Gray Media, Inc., formerly known as Gray Television, Inc., is headquartered in Atlanta, Georgia, and is the largest owner of top-rated local television stations and digital assets in the United States [3] - The company serves 113 television markets, reaching approximately 36 percent of U.S. television households, with a portfolio that includes 77 markets with the top-rated television station and 100 markets with the first and/or second highest-rated television station [3] - Gray Media also owns the largest Telemundo Affiliate group, covering 43 markets and nearly 1.5 million Hispanic TV households [3] - The company operates Gray Digital Media, a full-service digital agency, and has additional media properties including Raycom Sports, Tupelo Media Group, and PowerNation Studios [3] Name Change Announcement - The Board of Directors has unanimously voted to change the company's name to Gray Media, Inc., effective January 1, 2025, aligning the formal name with common usage [7] - The name change will not affect the company's trading symbols, CUSIPs, or the rights of its security holders, with common stock expected to begin trading under the new name on January 10, 2025 [4][7] Strategic Growth and Transformation - Executive Chairman Hilton H. Howell highlighted that Gray has expanded into new geographic and business markets over the past decade, diversifying its reach beyond local media [1] - The company is investing in new business models and technologies, marking a significant transformation in its 127-year history [1]

Atlanta, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE:GTN) announced today that it has entered into agreements with The Walt Disney Company that extend and renew the network affiliations for all of Gray's ABC affiliated television stations across 25 markets through December 31, 2028. "We are pleased to announce the further extension of our decades-long relationship with Disney for ABC station affiliations," said Gray's President and Co-CEO, Pat LaPlatney. "These agreements recognize our ABC ...

ATLANTA, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (“Gray,” “Gray Media,” “we,” “us” or “our”) (NYSE: GTN) today announced a strong third quarter ended September 30, 2024. Gray also projected full-year 2024 political advertising revenue of $500 million, as well as full-year 2024 Net Debt reduction of $500 million. SUMMARY OF THIRD QUARTER RESULTS OPERATING HIGHLIGHTS: Total revenue in the third quarter of 2024 was $950 million, an increase of 18% from the third quarter of 2023.Core advertising ...

Company Overview - Gray Media, formally known as Gray Television, Inc., is a multimedia company headquartered in Atlanta, Georgia [3] - It is the largest owner of top-rated local television stations and digital assets in the U.S., serving 113 television markets that reach approximately 36% of U.S. television households [3] - The portfolio includes 77 markets with the top-rated television station and 100 markets with the first and/or second highest-rated television station [3] - Gray Media has the largest Telemundo Affiliate group with 43 markets, totaling nearly 1.5 million Hispanic TV households [3] - The company also owns Gray Digital Media, a full-service digital agency providing advanced digital marketing strategies [3] - Additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, along with studio production facilities Assembly Atlanta and Third Rail Studios [3] - Gray Media holds a majority interest in Swirl Films [3] Earnings Announcement - Gray Media will release its earnings results for the quarter ended September 30, 2024, on November 8, 2024 [1] - A conference call to discuss the operating results will take place on the same day at 11:00 a.m. Eastern Time [2] - The live dial-in number for the conference call is 1-800-285-6670, and it will also be available for replay on the company's website [2]

Core Viewpoint - Gray Television (GTN) has shown strong stock performance recently, returning +14.4% over the past month, outperforming the S&P 500 composite's +5.4% and the Zacks Broadcast Radio and Television industry's +4.7% [2] Earnings Estimate Revisions - For the current quarter, Gray Television is expected to post earnings of $0.94 per share, reflecting a significant increase of +264.9% from the same quarter last year, with the consensus estimate remaining unchanged over the last 30 days [5] - The consensus earnings estimate for the current fiscal year is $4.37, indicating a change of +414.4% from the prior year, also remaining unchanged over the last 30 days [5] - For the next fiscal year, the consensus earnings estimate is -$0.64, showing a decline of -114.5% from the expected report a year ago, with no changes in the estimate over the past month [6] Revenue Growth Forecast - The consensus sales estimate for the current quarter is $966 million, representing a year-over-year increase of +20.3% [9] - For the current fiscal year, the sales estimate is $3.87 billion, indicating a growth of +17.9%, while the next fiscal year's estimate is $3.3 billion, reflecting a decline of -14.7% [9] Last Reported Results and Surprise History - In the last reported quarter, Gray Television generated revenues of $826 million, a year-over-year increase of +1.6%, with an EPS of $0.09 compared to -$0.10 a year ago [10] - The reported revenues were slightly below the Zacks Consensus Estimate of $834 million, resulting in a revenue surprise of -0.96%, while the EPS surprise was -10% [11] - Over the last four quarters, the company surpassed EPS estimates only once but exceeded consensus revenue estimates three times [11] Valuation - Gray Television is graded A in the Zacks Value Style Score, indicating that it is trading at a discount compared to its peers [15]

ATLANTA, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE: GTN) today announced that its local television stations have raised more than $290,000 for Hurricane Helene response efforts, and Gray itself will donate an additional $50,000 to the relief fund. The money raised will provide immediate aid as well as long-term assistance for residents impacted by the deadly storm system that took the lives of more than 200 people and left a path of destruction across six states. "We are truly grateful to our viewe ...

Gray Television (GTN) ended the recent trading session at $5.36, demonstrating a +0.94% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.42%. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.38%. The the stock of broadcast television company has risen by 4.12% in the past month, lagging the Consumer Discretionary sector's gain of 4.24% and overreaching the S&P 500's gain of 2.06%. Market participants will be closely fol ...

The most recent trading session ended with Gray Television (GTN) standing at $5.21, reflecting a +1.56% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%. Shares of the broadcast television company witnessed a gain of 5.99% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.85% and the S&P 500's gain of 1.27%. ...

ATLANTA , Sept. 04, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE: GTN) today announced that InvestigateTV+, its award-winning 30-minute news magazine, is now cleared on weekends in 67% of the U.S for the 2024 – 2025 season. The weekday edition of the program is also expanding its reach to 46% of the U.S. this fall. InvestigateTV+ and InvestigateTV+ Weekend will launch their new seasons the week of September 9th. InvestigateTV+ Weekend, formerly known as InvestigateTV, is entering its fourth season. It launched ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Let's take a look at what these Wall Street heavyweights have to say about Gray Television (GTN) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Gray Television currently ...