TVNewser LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllTwitter AllFacebook InsideFacebook InsideSocialGames InsideMobileApps

With Increase in Political Ads and Money from Young Stations, Gray Television Enjoys Record Revenue

Gray Television, which currently operates 36 stations serving 30 markets, announced today that its revenue for the fourth quarter of last year was up 48% compared to the final three months of 2009.

Gray saw record highs in the period for revenue ($346.1 million) and broadcast cash flow ($143.4 million).

The company enjoyed a huge spike in political advertising during the quarter and also saw significant increases in revenue from the consulting agreement it has with Young Broadcasting, which filed for bankruptcy in 2009 and tapped Gray to manage seven of its stations as part of the Chapter 11 filing.

While local advertising brought in the most money ($49.5 million), political advertising was up 569% with $33.1 million and consulting revenue increased 963% to $5.8 million.

Mediabistro Course


PodcastingStarting July 31, learn how to develop and create your own podcast in just a a matter of weeks! In this course you'll learn how to determine the goals of your podcast, pinpoint your concept, contact and book guests, distribute and market your podcast and more. Register now!