Gray Television

In announcing the honor, TVNewsCheck Editor Harry A. Jessell cited among other things its disciplined buying strategy that this year yielded Schurz Communications. “Despite the uncertainty facing all legacy media, Gray seized the opportunity to grow in 2015 by snapping up stations that fit strict criteria — nothing but strong stations in strong markets,” Jessell said. Once the Schurz deal closes, the group, headed by CEO Hilton Howell, will operate 175 channels in 50 markets.

The sale of three LPTV stations in North Dakota by Landover 2 LLC to Gray Television tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Kelsey.

To facilitate FCC approval of its purchase of Schurz Communicaitons’ television and radio stations, Gray is selling stations in three markets, while buying three more. The affected markets are Wichita, Kan.; Knoxville, Tenn.; South Bend, Ind.; Marquette, Mich; Rapid City, S.D.; and Anchorage, Alaska.

Even with its latest purchase of Schurz, CEO Hilton Howell says “we will continue to look for acquisitions that add to what we’re doing.” But SVP Kevin Latek says buying opportunities may be limited. The Schurz deal grows Gray’s reach to 49 markets in 28 states.

The deal will expand Gray’s operations to a total of 49 television markets and 28 states. “In a rapidly consolidating industry where size and scale matter more than ever before, we have come to the realization that Gray Television would be the best steward to ensure our stations succeed over the long-term,” explained Todd Schurz, president-CEO of Schurz.

While some other broadcasters say the move to bring its rep business in-house may work due to Gray’s size, many think it’s risky business, with the costs likely to outweigh the benefits. The decision to go it alone was not made lightly, said Gray’s Kevin Latek, SVP, business affairs. “We analyzed this every which way possible for pretty much close to a year until we came just to form a consensus … that this was the right direction for Gray to go.”

The broadcast group is paying The Gazette Co. $100 million in cash for the ABC affiliate, its first station in Iowa.

It is canceling its contracts with reps Katz Media Group and CoxReps to take the business in-house. It has hired former Katz execs Becky Meyer and Mike Jones to head the effort, which it expects will save it $8 million-$9 million next year in commission costs.

Revenue tops $143 million, driven by increased local and national sales and retrans. Net income hits $12 million. On a pro forma basis, revenue grew 7%, to $143.5 million.

It’s buying two stations in Wausau, Wis., and Laredo, Texas, and moving the programming to LPTVs it already owns in those markets. In Montana, it’s selling KBGF and KTVH to Cordillera Communications and donating KMTF to Montana State University.

Gray Television began a serious evaluation of a hybrid of hard and virtual sets, augmented reality and immersive graphics about 18 months ago. The station group wanted to find new, flexible ways to customize local content in a way that engages viewers. Now it’s preparing to introduce the technology at some of its stations, emphasizing the need to use virtual to “support the content, augment what is going on with that content — not get in the way,” according to Jason Effinger, the group’s tech SVP.

It’s purchasing the Texas CBS affiliate from Investment Company of America in an all-cash deal.

Revenue tops $133 million, driven by increased  local and national sales and retrans. Net income hits $5.6 million. On a pro forma basis, revenue grew 10%.

Kevin Latek, Gray Television’s SVP of business affairs, says his company is looking to buy more “high-quality TV stations that really serve as institutions in their markets, that are typically No. 1 or No. 2 in news.” Gray is also intent on delivering that programming to as many devices as possible and so has embraced CBS All Access and NBC’s TV Everywhere initiative.

The station group’s latest acquisition offers both CBS and Fox programming to the Presque Isle, Maine, DMA. Seller NEPSK Inc. has owned it for more than 30 years.

The broadcaster today launched live linear streams of KKTV Colorado Springs, Colo.; KBTX Waco-Bryan-College Station, Texas; WCAV Charlottesville, Va.; WTVY Dothan, Ala.; and KXII Sherman, Texas, to the OTT service. More launches are coming soon, Gray says.

Gray Television Inc. said it has completed its previously announced underwritten public offering of shares of its common stock at $13 per share. Gray issued 13.5 million shares. The company said the proceeds are approximately $175.6 million and it will use the money for general corporate purposes that could include repayment of outstanding debt, capital expenditures, the financing of possible future business expansions and acquisitions, increasing working capital and the financing of ongoing operating expenses and overhead.

Gray Television Inc. announced Wednesday that it has priced its previously announced public offering of 12 million shares of its common stock at $13 per share. Gray has also granted […]

Gray Television Inc. announced today that it has commenced an underwritten public offering, subject to market and other conditions, of 12 million shares of its common stock. In addition, Gray […]

The expanding group owner promotes programming director Greg Conklin. In his new position, he’ll have oversight of all its 140 program streams, as well as music licensing, ratings analysis and promotions coordination.

The group is purchasing KMVT (CBS) And KSVT (Fox) from Neuhoff Corp. for cash.

The broadcaster tells the FCC that “it is clear that not all LPTV stations will find a new home after the spectrum incentive auction and subsequent repacking of full-power and Class A stations. However, those LPTV stations that do secure a channel and that demonstrate a commitment to serving their local communities should be given the opportunity to apply for Class A status and secure a permanent channel in the post-auction environment.”

The company’s execs tell analysts that it intends to strike the right balance between buying and borrowing. It’s also a strong supporter of the next-generation broadcast standard dubbed ATSC 3.0 and considers it an attractive revenue producing opportunity.

The first deal with non-NBC O&Os lets Gray include the live linear simulcasts of its 24 NBC affiliates, including NBC network and local programming, as part of NBC’s TV Everywhere mobile and online platforms.

Higher advertising from station acquisitions as well as increased local, national, Internet, political and retrans money boost revenue to $177.9 million in the quarter and to $508 million for all of 2014. However, on a same-station basis, core spot decreased 2% in the quarter. Gray attributed the decline to displacement by an extra $46 million in political advertising.

Veteran journalist Jacqueline Policastro heads the new operation, designed  to let the station group deliver hyper-local coverage and analysis of national issues.

This announcement appeared on the Cox Communications website Sunday: “Cox Communications has reached an agreement with Gray Television.  Gray programming will be returned to the Cox lineup in all the communities we serve that have local Gray TV stations. We appreciate our customers’ patience and support as we sought to reach an agreement.”

Gray Television’s NBC affiliate WOWT Omaha, Neb., went off the air Wednesday on the Cox cable system.The two parties were unable to reach a new retrans agreement by a midnight Tuesday deadline and Cox dropped the station from its television lineup Wednesday, said Vic Richards, WOWT VP-GM. The negotiations are continuing, said Beth Weiss, senior manager of public affairs for Cox Communications’ central region, which includes Nebraska and Iowa.

The dominant cable provider in the Fargo-Moorhead, N.D., market reached a new carriage deal for Gray Television’s NBC and CBS affiliates almost 24 hours after the 5 p.m. Friday deadline. The original deadline was midnight New Year’s Eve.

The multi-year contracts cover 24 NBC affiliates and 16 CW stations.

Higher advertising from station acquisitions as well as increased local, national, Internet, political and retrans money boost total 49% to $132 million.

The nearly $2 million deal transfers the NBC affiliates in Helena and Great Falls, Mont., from Intermountain West Communications.

The Washington communications attorney will join the broadcaster as deputy general counsel.

The $128 million purchase of ABC affiliates WJRT and WTVG was announced in July.

Gray Television has made deals, with the help of the Minority Media and Telecommunications Council, to sell the stations to three minority or women-owned entities to comply with FCC rules. The stations involved are KXJB Fargo, N.D.; KJCT Grand Junction, Colo.; KHAS Hastings-Lincoln, Neb.; KAQY Monroe, La.; KNDX Bismarck, N.D.; and KXND Minot, N.D.

The two renewal agreements covers all the group’s 10 Fox affils in eight markets and all its 26 CBS stations in 22 markets.

Higher advertising from station acquisitions as well as increased local, national, Internet, political and retrans money boost total to $107.2 million.