Gray Television, which currently operates 36 stations across the country, today reported a significant decrease in fourth quarter revenue, calling 2011 an “off year.”
Like many station groups, Gray reported a decrease in Q4 revenue, brought on by a drop in cyclical political advertising spending.
Total revenue for the final three months of 2011 decreased $29.9 million, or 26%, compared to the same period in 2010. Political advertising for the period was down $28.6 million, or 86%. Read more