Gray Television, Inc. is a television broadcast company headquartered in Atlanta, Georgia, whose primary mission is to provide quality news and entertainment services to the local markets in which the Company operates. Our commitment to local interests and a selective acquisition strategy provides growth opportunities, which builds long-term value for our stockholders.
Gray currently operates 36 television stations serving 30 markets. Each of the stations are affiliated with either CBS (17 stations), NBC (10 stations), ABC (8 stations) or FOX (1 station). In addition, Gray currently operates 38 digital second channels including 1 ABC, 4 Fox, 7 CW, 16 MyNetworkTV, 1 Universal Sports Network, plus 8 local news/weather channels and 1 "independent" channel in certain of our existing markets.
Gray Television Wiki: http://en.wikipedia.org/wiki/Gray_Television
Class A 3-year chart:
Class B common stock: 42,850,019 shares outstanding / Class A common stock: 5,753,020 shares outstanding
there is also 1,000 Series D Preferred. They were created in June 2008 for cash investment, bear interest and have a liquidation value of $100,000,000
Dividends were paid with no misses on all classes until 4th 2008, going back to 1967.
Series D will get paid dividends before A/B do, if they are able to in the future.
Common/B is 1 vote.
Class A is 10 votes. (GTN.A)
Equal Dividend treatment A-B.
In 2006, the company spun off its five daily newspapers and wireless messaging business into the newly formed Triple Crown Media, which subsequently merged with Host Communications. Triple Crown Media is still trading as TCMI.PK
largest independent owner of CBS affiliates in the country. Gray stations reach 6.2% of all U.S. households.
Audio Files: http://www.gray.tv/phoenix.zhtml?c=104784&p=irol-audioArchives
Atlanta-based Gray Television will operate the remaining stations. The company will get a $2.2 million annual management fee and a share of any profits.
Vincent Young said after Wednesday's court proceedings that the deal with Gray should help both companies. Gray's management and strong infrastructure should benefit Young, while he said Young has been successful at developing new sources of local ad dollars, where it could help Gray "get to where they need to be."