Gray Television Inc. (GTN)

[RonnieD]

Gray Reports Operating Results

DJ Wire Headlines:

- 2Q Total Revs 65.1m (was 61m 1Q) (down 17% yoy)
- Sees 2009 Operating Expenses down by 16m
- Unsure how GM, Chrysler bankruptcies to affect accounts receivable
- Sees 3Q Retransmission Consent Rev up 3m
- Sees 3Q National, Ex-Political Rev, down 30% year-over-year
- Sees 3Q Local, Ex-Political Rev, down 9% (yoy)
- Cites Lower Natl, Political, Internet Advertizing (but not Local)
- Economic Recession continues to challenge TV Broadcast Indus.
- Local Ad fell 13%, Natl Ad -33%, Internet ad -11%. Retransmission Revs soared from $800,000 to $4m
- Bad debt reserve increased for receivables due from Chrysler Group, LLC.

Gray Reports Operating Results
For the Three-Month and Six-Month Periods Ended June 30, 2009
http://finance.yahoo.com/news/Gray-Reports-Operating-prnews-555492035.html?x=0&.v=1