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Posts Tagged ‘Gray Television’

Gray Paying Cash for South Dakota Station

New_Gray_304Gray Television has announced an agreement to buy KEVN, the Rapid City, SD, FOX affiliate, from Mission TV, LLC for $7.75 million in cash.

“While the decision to sell is a difficult one,” William Reyner, president of Mission TV said in a statement. “I am confident that Gray Television’s resources, fine leadership and supportive management team will provide KEVN and its fine employees with tremendous opportunities to build upon their successes and better serve our loyal viewers.”

The deal, which is pending FCC approval, also includes KEVN’s satellite station in Lead, SD, KIVV.

“We expect KEVN-TV will integrate well with our recently announced proposed acquisition of the ABC affiliate in Sioux Falls, South Dakota, and the NBC affiliates in the Fargo and the Minot-Bismarck, North Dakota, markets from Hoak Media,” said Kevin Latek, Gray’s SVP for Business Affairs.

Mission TV is not affiliated with Mission Broadcasting, Inc.

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Gray Television and Excalibur Broadcasting to Acquire 15 Stations For $335M

Gray Television and Excalibur Broadcasting have agreed to acquire 15 stations from Hoak Media and Parker Broadcasting for $335 million.

The 20 stations that Gray and Excalibur will acquire from Hoak and Parker are KSFY, KABY and KPRY in Sioux Falls, S.D.; KVLY and KXJB in Fargo, N.D.; KNOE and KAQY in Monroe, La.; KFYR, KMOT, KUMV and KQCD in Minot, N.D.; WMBB in Panama City, Fla.; KALB in Alexandria, La.; KREX, KREY, KFQX and KREG in Grand Junction, Co.; KNOP and KIIT in North Platte, Neb.; and KHAS in Lincoln, Neb.

Due to FCC ownership requirements, Gray will sell Hoak’s stations station in Panama City, Fla. and four stations in Grand Junction, Co., bringing the total number of stations acquired to 15.

Excalibur has also agreed to acquire two more stations from Prime Cities Broadcasting, KNDX and KXND in Minot, N.D., for $7.5 million.

Gray will provide back-office services and limited programming to the Excalibur stations in Lincoln, Fargo, Minot and Monroe through a shared services agreement.

“We are thrilled to have the opportunity to bring the Hoak, Parker and Prime Cities television stations into the Gray community,” Gray President and CEO Hilton Howell said in a statement. “These transactions will yield impressive synergies, many of which are unique to Gray given how well the stations’ locations, operations and culture complement our own.”

Q3 Earnings: Gray Revenue Down 14%

new logo

Gray Television reported $88.3 million in revenue for the third quarter of 2013, a -14% drop compared to the year-ago quarter. The station group attributed the decline to the lack of Olympic advertising revenue and political revenue.

Local advertising revenue, internet advertising revenue and retransmission revenue were all up compared to Q2 2012. National advertising revenue, political advertising revenue and other revenue were down year-over-year.

“We are pleased with our operating results for the third quarter of 2013. We experienced period over period increases in local advertising, internet advertising and retransmission consent revenue. Our period over period decrease in total revenue was primarily due to the expected decrease in political advertising revenue during the “off-year” of the two-year political advertising cycle,” Gray said in a statement.

Gray Buys Laredo Station Monday, Announces Launch of Digital ABC Affiliate Today

gray_abcABC has announced an affiliation agreement with Gray Television for the station group’s newly purchased Laredo, TX, station KGNS.

The new digital ABC affiliate is targeted for launch in February 2014 and will air the full ABC schedule including “Good Morning America, “World News Tonight” and “Jimmy Kimmel Live.” Currently KGNS broadcasts NBC, the CW and Telemundo.

“Laredo’s number one local station, KGNS, is the logical choice to bring ABC’s news, entertainment and sports programming to the local community,” Kevin Latek, Gray’s SVP for Business Affairs said in a statement.  “And Gray is the logical choice to build the newest ABC affiliate as  Gray has launched four new CBS affiliates and one new NBC since September 2012.”

Monday, Gray announced the addition of KGNS as part of its purchase of Yellowstone Television.

Gray Television Unveils New Branding


Gray Television, owner of local TV stations in 31 markets across the country, has unveiled a new logo and revamped website.

The station group has a new video (above) featuring Gray president and CEO Hilton Howell talking about the company’s growth and the reasons behind the update. “In recognition of our continuing journey forward, we are today adopting a new icon, a new logo and a new look that represents and affirms who we are as a progressive company of professionals working together to improve our local communities,” said Howell.

In a statement, Gray said the logo represents a camera lens and “[t]he primary colors used in each of Gray’s individual station logos create the colors chosen for the company’s new icon, and all the local station logos are brought together in the shape of the proprietary initial “G”.  Going forward, Gray will reflect the legacy of its leading local brands through the prominent use of this modern, three-dimensional icon. You can check out the old and new logo after the jump. Read more

After Losing Belo to Gannett, Sinclair Reportedly Eyeing Gray, LIN and Raycom

sinclair logoBloomberg News reports Sinclair Broadcast Group is weighing more acquisitions after attempting to “steal Belo Corp. from the clutches of Gannett Co.” Gray Television, LIN Media and Raycom Media are seen as potential acquisition targets:

Sinclair twice tried to top Gannett’s offer for Belo in the days before the shareholder vote, said people familiar with the matter, who asked not to be named because the process was private. Sinclair first sought to assemble a deal with various Belo shareholders, and then attempted to put together an offer with private-equity firm CVC Capital Partners Ltd., the people said. Neither effort led to a bid, they said, and Belo shareholders approved Gannett’s $1.5 billion offer on Sept. 25.

After missing out on Belo’s 20 TV stations, Hunt Valley, Maryland-based Sinclair may have to settle for alternatives. Gray, Lin and Raycom Media Inc. may be potential targets, said Paul Sweeney, a Bloomberg Industries analyst. In two years, Sinclair has announced $2.8 billion of deals as stations negotiate higher fees from cable systems. U.S. TV and broadcast deals have reached $8.7 billion this year, the most since 2007, according to data compiled by Bloomberg.

Q2 Earnings: Gray TV Revenue Down 11%

Gray Television reported $84.3 million in total revenue during the second quarter of 2013, a decline of 11% compared to the year-ago quarter.

Local and national advertising revenue both increased 5% compared to the year-ago quarter. Internet advertising revenue was down, as was political advertising, which fell 94% in the non-election year. Retransmission revenue rose 13% compared to the second quarter of 2012.

“We are pleased with our operating results for the second quarter of 2013. We experienced period over period increases in national advertising, local advertising and retransmission consent revenue.  Our period over period decrease in total revenue was primarily due to the expected decrease in political advertising revenue,” the company said in a statement.

Gray Television Streamlines Management Team

Gray Television has announced a streamlined management team that eliminates the positions of COO and regional vice president and creates a team of five who will report to Gray’s president and CEO Hilton Howell.

The five named in the press release are: Nick Waller, who was named senior vice president of the Mid-Atlantic and South regions, Bob Smith, who was named senior vice president of the Midwest and West regions, Jason Effinger, who was named SVP for media and technology, Jim Ryan, who will maintain his title of SVP of finance and CFO, and Kevin Latek, who was named SVP of Business Affairs.

“We are excited to create a new management structure that will allow us to be decisive, innovative, and agile,” said Howell. “Just as important, our new structure is scalable in a way that allows us to grow our company and our local brands quickly.”

Gray also announced Charlie Effinger will become the VP of Corporate Development and will be responsible for acquiring programming and maintaining relationships with networks and syndicators. Lisa Gull was also named VP of Production. Gull will report to Jason Effinger and will support Gray’s production projects as well as overseeing the Gray Graphics hub.

Gray Television President Bob Prather Resigns

Bob Prather has resigned from his post as president and chief operating officer of Gray Television.

“I want to thank Bob Prather for his service to the Company.  As we continue to move ahead, I am looking forward to continuing to work closely with our corporate leadership team, as well as all the other members of Gray’s outstanding operational leadership team at our television stations,” Gray CEO Hilton H. Howell, Jr. said in a statement. “This is an exciting and dynamic time in the television broadcasting industry, and after our record year in 2012 we continue to be on track for a very solid year in 2013.”

Howell has been appointed to serve as president of Gray Television.

Gray Television Adds Internet Streaming Platform to All Stations

Gray Television has announced it will add the Syncbak internet TV platform to all of its 41 TV stations.

“Gray Television was one of the very first broadcasters to launch mobile DTV service,” said Bob Prather, Gray’s president and COO.  “Over the past few months, Syncbak has proven that they can provide another critical route to reach our local viewers.  We are therefore excited to be able to improve our local products by adding all of our stations to the Syncbak platform.”

The Syncbak platform allows stations to stream their signals over the internet to mobile and connected devices. Syncbak uses a “location-based authentication technology” to keep station signals within its market reach.

Syncbak is being tested by all the major networks in over 150 TV stations in 98 markets. Gray Television has stations in 30 markets including Wichita, KS, Winchester, VA, Rockford, IL, and Knoxville, KY. 21 of Gray’s stations are CBS affiliates, 11 are affiliated with NBC, eight are with ABC and five are FOX affiliates.

[TVNewsCheck]

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