Gray Media confirms layoffs as part of broader expense reductions
The reductions are meant to improve Gray’s financial position; executives affirmed they saw a pullback in core ad spending from some segments due to the election cycle.
Gray Media ($GTN) is an American television broadcast company that owns or operates around 180 stations in 113 markets. In addition to its broadcast TV properties, Gray is the operator of streaming service Zeam, which offers local news feeds from its own stations and third-party broadcasters. The company also operates a number of regional sports broadcast networks, including the Gulf Coast Sports & Entertainment Network, the Rock Entertainment Sports Network and Palmetto Sports & Entertainment Network.
The reductions are meant to improve Gray’s financial position; executives affirmed they saw a pullback in core ad spending from some segments due to the election cycle.
Gray Media saw its political advertising revenue spike during Q3, but a shift in programming coupled with the impact from two hurricanes caused it to revise its revenue forecasts for the rest of the year.
Fox affiliate KVVU will relaunch its 7 p.m. newscast with an exclusive sponsor that will allow it to air more in-depth news pieces.
Local News Live will produce its own Election Night special that will be helmed by a team of four anchors, with contributions from more than 110 local TV newsrooms.
Stations owned by Nexstar Media Group, Gray Media and Sinclair will offer Mavericks games across Texas.
A television reporter is recovering in the hospital after she was shot during a domestic violence incident this week.
The photographer, Samuel Mena, Jr., attempts to self-immolate near the White House on Saturday.
Gray Media has debuted a new app focused on its Local News Live streaming channel.
Gray itself is donating an additional $50,000 to Hurricane Helene relief funds.
Sports programming from the Chicago Sports Network will be offered on two broadcast stations owned by Gray Media in Indiana and Illinois, the companies announced.
The channel, called Big 12 Studios, will feature game replays, in-game footage, highlights and related programming.
Gray Television will distribute New Orleans Pelicans games through a new regional sports broadcast network that will air on nearly a dozen TV stations.