The Biden-appointed acting chairwoman opposed lifting the limits. Support responsible news and fact-based information today! Senator and Georgia Governor Zell B. Miller joined from the Board of Directors. [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. [3], In August and September 1996, Gray raised additional operating funds by various means. 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. Over the past year-and-a-half, weve invested close to $1 billion to acquire best-in-class, top-tier, broadcast network affiliates, said Byron Allen, chairman and CEO of Allen Media Group, in a prepared statement. James C. Ryan, formerly CFO of Busse Broadcasting Corporation, named Vice President and Chief Financial Officer. Gray announces its acquisition of Meredith Corporations Local Media Group for $2.7 billion. [46][47][48] The deal was completed on January 2, 2019. [3], In 1996, Gray added additional TV stations while entering additional communication industry segments. Stations are arranged alphabetically by state and by city of license. The Des Moines-based company said that it will invest in the growth of the magazines and their digital properties. | Source: All Rights Reserved. Gray launched WALB-TV in 1954. Gray closes Hoak deal; completes refinancing. "The hallmark of our business is delivering unbiased news and information, supporting our local communities, and fostering strong culture everywhere we operate. 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. Concrete was crushed on site and reused as Graded Aggregate Base (GAB) under the roadways and new structure slabs. On August 20, KTVE was sold for cash and accounts receivable. The Company announced the promotion of its five Senior Vice Presidents to new roles as Executive Vice Presidents. Utilize solar powered trailers and fuel-efficient vehicles where possible to reduce carbon footprint. Gray Television to Acquire Meredith TV Stations for $2.7 Billion Gray considered the possibility of purchasing the Young stations if the group went on the market. Wells Fargo Securities, LLC served as financial advisor to Quincy. The Radio Television Digital News Association (RTDNA) awards a combined 49 Regional Edward R. Murrow awards for excellence in journalism to 21 of Grays local stations. During the construction of the Assembly Studios complex, we have taken the following actions to reduce environmental impact, and even improve the property: Currently, Third Rail Studios and upon completion of the Assembly Studio complex, Assembly Atlanta has or will implement the following actions as part of our commitment to the environment: Copyright 2023 Gray Television, Inc. All Rights Reserved, Senior Managing Vice President, Chief Revenue Officer, Senior Managing Vice President, Chief Marketing Officer, Senior Vice President, Chief Digital Officer, Senior Vice President, Chief Technology Officer, Senior Vice President, Corporate Relations & Assembly Atlanta, Senior Vice President, Chief Accounting Officer, Senior Vice President, Financial Reporting, Senior Vice President, Government Relations and Distribution, Vice President, Gray TV Telemundo Station Group, Senior Vice President, Deputy General Counsel, Vice President, Assistant General Counsel, Vice President, Sales Training and Development, Senior Executive Administrator, Corporate Support Services, Assistant Secretary, Assistant General Counsel, President and CEO, Tupelo Media Group, LLC, Vice President, Digital Content and Audience Development, SVP, Program Planning and Distribution, Raycom Sports, Assistant Vice President, Shared Services, Vice President, Chief Information Security Officer, Vice President, Senior Programming and Production Counsel, Vice President, Traffic and Sales Systems, Gray Television's 1st Quarter 2023 Earnings Call - May 5 @ 11:00am ET, Gray Television's 4th Quarter 2022 Earnings Call - February 24 @ 11:00am ET. 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. 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. His commentary on, Al Tompkins is one of America's most requested broadcast journalism and multimedia teachers and coaches. Gray partners with the Salvation Army to produce and broadcast Heal the Heartland to raise money for relief efforts around the massive Midwest tornado. Morale is low. 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%. The Company made a $3 million strategic equity investment in Syncbak, a technology company that replicates over-the-air broadcasts for delivery over-the-top (OTT) of the Internet. The Company purchased WQCW-TV (Charleston, WV) from Lockwood Broadcasting. 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 announced the election of Beth Neuhoff to its Board of Directors. Gray is subject to additional risks and uncertainties described in Grays quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the Risk Factors, and managements discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, www.gray.tv. The services would consist of a broadcast diginet and an OTT streaming platform. Gray is one of three television companies, along with Sinclair broadcasting and Nexstar Media Group, that have been purchasing stations all over the country over the past 25 years. [33] In February 2019, Gray announced that award-winning journalist Greta Van Susteren joined the company as its Chief National Political Analyst. The Company purchased Busse Broadcasting Corporation and its television stations, KOLN/KGIN-TV (Lincoln/Grand Island, NE) and WEAU-TV (Eau Claire, WI). The acquisition of Raycom completes Grays 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. Gray Television is a television broadcast company headquartered in Atlanta, Georgia. Like Gray, Quincys portfolio of best-in-class television stations maintain local control over programming and operational decisions and have reputations for a commitment to excellence in local news operations, programming, community engagement and public service. Cooley LLP served as primary legal counsel for Gray. Sunday Worship June 25, 2023 | Stream CCLI #21810036 The divestitures may take the form of cash sales, swaps involving other television stations, or a combination of cash and swaps. [13], The company had overpaid for a pair of stations and was over leveraged like many other station groups entering the Great Recession. Gray is expected to buy Quincy for $925 million. WebSinclair owns or operates 294 television stations across the United States in 89 markets ranging in size from as large as Washington, D.C. to as small as Ottumwa, Iowa / Kirksville, Gray sells divestiture stations from the Quincy Media transaction to Allen Media for $380 million to facilitate its acquisition of Quincy Media. [30][31], In January 2016, Gray Television opened a national news bureau in Washington, D.C., led by former APTV journalist Jacqueline Policastro. Fortune Magazine announced that Gray Television ranked 96th in its ranking of the Top 100 Fastest Growing Companies in the World for 2017. Gray Television, Inc., a television broadcast company, owns and operates television stations and digital assets in the United States. It is unknown whether Gray will eventually purchase a station in the Twin Cities. In addition to the stations above, Gray will acquire Quincys Heroes & Icons affiliate WSJV in South Bend, Indiana (DMA 98) as well as WGEM(AM)/-FM in Quincy, Illinois. [40][41], On May 21, 2018, Gray Television entered into an agreement to acquire KNHL from Legacy Broadcasting for $475,000. The Company renewed essentially all of its affiliation agreements with the ABC, CBS, NBC, FOX, and CW networks. In addition, Ralph W. Gabbard became the Company's President and CEO. There are FCC guidelines about concentration, which is why Tribune was never bought by Sinclair. Through our first ESG Report, we illustrate how these long-standing commitments align with and support accepted frameworks through which responsible companies enhance the well-being of all stakeholders." The Company opens a significantly remodeled, state-of-the-art facility for KNOE-TV (CBS, ABC) in Monroe, Louisiana. 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. Any forward looking statements in thisreleaseshould be evaluated in light of these important risk factors. Sinclair owns WUCW in the Twin Cities and Nexstar owns stations in Sioux Falls, Eau Claire, La Crosse and Sioux City. 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. You can view The Poynter Institutes most-recent public financial disclosure form 990, Poynter ACES Introductory Certificate in Editing, it acquired the larger Time Inc. magazine group, Federal Communications Commissions national TV ownership rule, How journalists cover lies is the most important issue in news media, Anderson Cooper to receive Poynter Medal for Lifetime Achievement in Journalism, Fact-checkers applaud academic research on fact-checking but offer wide range of opinions on which research is most valuable, Fox News prime-time shakeup is no shakeup at all. John T. Williams named President and Chief Executive Officer. 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 was considered in 1996 by Fortune magazine as the 81st fastest growing company, having a 48% percent growth rate. Still, the fact that Gray got a Minnesota gubernatorial debate proves that Gray is trusted enough so the candidates on both sides believe it will provide a fair and unbiased debate. [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. Gray Television Stock Forecast, Price & News The stock market appeared to see the transaction as a win-win, with both Gray and Meredith shares up 5% in late morning trading. Then, it purchased stations from Quincy Media which owned stations in Duluth and Rochester. Grays Emmy award winning production company, Tupelo Honey, celebrates its 25th anniversary. [3], In 1998, Gray started to expand beyond its Southeast region. As the company agreed to purchase the Busse Broadcasting Corporation, which owned KOLN, KGIN-TV and WEAU. Onboard, the pilot steers based on these instructions with a modified video game controller. Originating from Gray's Washington bureau is Local News Live, a hosted service of live breaking news and events from the 113 Gray television markets across the country, similar to LiveNOW from Fox (produced by Fox Television Stations) and The National Desk (produced by Sinclair Broadcast Group). 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. Companies Media & Communication Gray Television Questions What is the vacation policy like at Gray Television? WebWBAY 2 ABC ID: "Action 2 News" City: Green Bay, WI Owner: Gray Television Station Info: Digital Full-Power - 1000 kW Market: Green Bay-Appleton WSAZ 3 NBC ID: "WSAZ News own Gray Television Television Stations - Station Index The parties expect to close their transaction following receipt of regulatory and other approvals in the second or third quarter of 2021. Gray Television The joint venture is based in Nashville under general manager Drew Riefenberger. Scripps Co., Tegna, Hearst Television and Cox Media Group have pulled their stations signals from FuboTV in a dispute with Paramount Globals CBS Television Network, according to sources familiar with the situation. No concrete was hauled off site or shipped to landfills. Including expected year-one annualized synergies of approximately $23 million, the transaction purchase price represents a multiple of approximately 6.9 times a blended average of Quincys 2019/2020 earnings before interest, taxes, depreciation and amortization. Gray Television If approved, Gray would sell WJRT-TV to acquire competing station WNEM-TV, owned by Meredith. [62], On September 28, 2022, Gray announced its intent to purchase WBQC-LD for $2.5 million. On January 1, Circle officially launches. Gray expands its Washington DC news team by adding senior journalist Jon Decker as Senior National Editor. They also named three other Gray stations as finalists for these prestigious awards. Gray will acquire stations in two big markets Atlanta and Phoenix plus a range of middle markets, similar to most of Grays holdings. Update now. The bureau was designed to provide enhanced coverage of national political issues for Gray's local stations. The Company partners with Loyola University New Orleans School of Mass Communications to create a "Producer Incubator Lab.". [3][4], The company was then taken public on NASDAQ's small-cap market in the 2nd quarter 1992. This page was last updated at 2022-12-06 20:01 UTC. The station group covers all of Minnesota (outside the Twin Cities). [55][56] The "studio city" is set to include multiple film studios, as well as apartments, townhomes, a hotel, corporate offices, restaurants and retail space. The Company renewed over 250 retransmission consent agreements at year-end with no disruptions to local viewers. The Company moved to the New York Stock Exchange (NYSE), trading under the symbol GCS. Gray Television, Inc. is an American publicly traded television broadcasting company based in Atlanta, Georgia. Grays portfolio of TV stations will serve 113 local markets reaching approximately 36% of U.S. TV households. Wells Fargo has provided a debt financing commitment for an incremental loan to finance up to the full purchase price of $925 million. Meet the new guy. (Gene) Elder joined the Board of Directors. Collaborate with our long-term tenant to monitor in real time critical infrastructure, HVAC, and power systems to reduce waste. The Company announces that Greta Van Susteren has joined Gray as Chief National Political Analyst. On March 6, 2022, Gray released its first Environmental, Social, and Governance (ESG) Report. Gray launches its first NextGen TV (ATSC 3.0) station in Tallahassee, Florida. In their place, Gray Television acquired and, in some cases, built from scratch market-leading television stations focused on local communities. Democrats usually refuse debates conducted by Hubbard Broadcasting, which owns three stations in three markets in Minnesota in Rochester/Austin, Duluth and the Twin Cities, as the Hubbard family has been known to donate large amounts of money to Republican candidates. Though the television group contributed about half of Merediths profits in 2020, this sale was not unexpected. 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. Upon the closing of its acquisition of Quincy Media, Inc., Gray will own television stations serving 102 television markets that collectively reach 25.4 percent of Is it right for one company to own so many stations in one region (and control Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo Honey, and RTM Circle is a Country lifestyle network joint venture with partner Opry Entertainment Group, a subsidiary of Ryman Hospitality Properties. [3], Also in September 1996, Ralph Gabbard, the newly named president and CEO, died from a heart attack at age 50. Gray said it expects the sales of the divested stations to close in the third quarter of 2021, concurrent with its Quincy purchase. Meredith sold Time along with Fortune and the Sports Illustrated brand to three separate buyers for $450 million. Gray Television Company Profile - Office Locations, Competitors [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. Gray expects that the Quincy transaction will be immediately accretive to Grays free cash flow per share. Onboard, the pilot steers based on these instructions with a modified video game controller. List of stations owned or operated by Gray Television - Detailed 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. policy like at Gray Television? How many [4], In September 2015, Gray announced that it would acquire the television and radio stations of Schurz Communications for $442.5million. The company owns KEYC in Mankato, KTTC in Rochester, KBJR in Duluth, KVLY in Fargo and KSFY in Sioux Falls, S.D. Byron Allen s Allen Media has agreed to buy seven TV stations from Gray Television Inc. for $380 million in cash, the companies announced Thursday. WebAn entity is permitted to own up to two television stations in the same Designated Market Area (DMA) if either: The service areas known as the digital noise limited service contour of the stations do not overlap; or At least one of the stations is not ranked among the top-four rated stations in the DMA based on audience share. The Company agrees to acquire KDLT-TV in Sioux Falls, South Dakota. Upon closing the transaction, Gray will own television stations serving 102 television markets that collectively reach 25.4 percent of US television households, including the number-one ranked television station in 77 markets and the first and/or second highest ranked television station in 93 markets according to Comscores average all-day ratings for calendar year 2020. The Company selected by TVNewsCheck as "2016 Station Group of the Year". 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. Legal experts said that just because an abortion exception is included in a law doesnt mean it will lead to any access. While the board of directors received about 40 offers, Bull Run Corporation purchased the remaining shares of the Gray siblings, who as part of the deal resigned from the board. Gray has owned stations in Fargo and Sioux Falls since 2013 and in Eau Claire since 1998. [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. WebGray Television, Inc. is an American publicly traded television broadcasting company based in Atlanta, Georgia. Gray Television acquires Meredith Corp.'s local stations - Atlanta The company put itself-or any part up-for sale by the end of 1992. The Company reached an agreement with Diversified Communications to acquire WABI (CBS/CW) in Bangor, Maine and WCJB (ABC/CW) in Gainesville, Florida. Titan sub: Cramped vessel is operated by video game controller Gray and Meredith amend purchase agreement to increase purchase price to $2.825 billion and make certain other changes favorable to Gray. As we wrote in October, despite a strong record of management and financial performance, Meredith hit trouble in the Time purchase. Sunday Worship June 25, 2023 | Stream CCLI #21810036 By January 20, 2016, Gray had set up their Washington News Bureau by Jacqueline Policastro to enable stations to get interviews with U.S. Concurrent with the Benedek acquisition, Gray acquired KOLO-TV (Reno, NV) from Smith Television Group, T.L. Click to view full report: Gray Television 2022 ESG Report. Fortune Magazine announced that Gray Television ranked 77th in its ranking of the Top 100 Fastest Growing Companies in the World for 2016. The celebration will be at the Bowtie Ball Nov. 18 at the J.W. 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. The Herald Publishing Company was founded with the creation of the Albany Herald in Albany, Georgia. Russia-Ukraine latest: 'Criminal acts' of rebels tried to split and [49][50], Gray announced on April 24, 2019, a joint venture with Grand Ole Opry Entertainment Group, a subsidiary of Ryman Hospitality Properties, a former owner of The Nashville Network. This press release contains certain forward looking statements that are based largely on Grays current expectations and reflect various estimates and assumptions by Gray. Gray Television to Acquire Meredith TV Stations for $2.7 Follow the action on Gameview, Mall of America evicts long-running tenant Dairy Queen for unpaid rent, 9 free things to do in the Twin Cities this week, Apostle Supper Club exits Duluth's Radisson hotel, Minnesota's future: Car-free utopia will collide with reality, Readers Write: Transit, traffic deaths, Hunter Biden, junk, Minnesota's future must make room for mining, 20 short observations from a high school teacher, Minnesota's future: Urban and rural Minnesota need each other more than ever, Why sex still matters in sports and law, Every Supreme Court justice should be matched with a billionaire buddy. ", "Gray Buying Hoak, Prime Stations For $342.5M", "Re: Prime Cities Broadcasting, Inc. Request for Dismissal of Group Application for Assignment of Broadcast Station License(s)". The National Association of Broadcasters Education Foundation (NABEF) selected KWTX-TV (CBS) in Waco, Texas, and KOLO-TV (ABC) in Reno, Nevada, to receive two of the three annual Service to America Awards. 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."). [23][24], On July 24, 2014, SJL Broadcasting announced that it would sell WJRT-TV and WTVG to Gray, for $128million. sorted by primary channel network affiliations, Creative Commons Attribution-ShareAlike License, ABC affiliate owned by Lockwood Broadcast Group, CBS affiliate owned by Lockwood Broadcast Group. Gray will not acquire Quincys newspaper operations, which will be divested prior to the Gray/Quincy closing. 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. The Company announced that it had reached a multi-year deal that renews station affiliation agreements covering all 32 markets in which Gray own and operates its 39 CBS-affiliate television stations. The Assembly Atlanta development is a 135-acre mixed-use real estate complex centered around the studio industry in Doraville, Georgia. 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. Follow the 2nd game of the series on Gameview, Live: Lynx vs. Storm. The channel operates from 7 a.m. to midnight Eastern, (with paid programing vacate their spots), features live newscasts at 7 a.m., 2 p.m., and 8 p.m. Eastern time, and repeats throughout the day when no breaking news is occurring.
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