Latest news with #HiltonHowell
Yahoo
4 days ago
- Business
- Yahoo
Gray Television's Q1 Earnings Call: Our Top 5 Analyst Questions
Gray Television's first quarter results for 2025 were received positively by the market, as the company exceeded Wall Street's revenue and profit expectations despite a year-over-year sales decline. Management attributed the quarter's performance to stronger-than-anticipated political advertising, ongoing cost containment, and the growing contribution from local sports broadcasting. CEO Hilton Howell highlighted the impact of new local sports rights agreements, stating, 'the combination of our premier local news franchises with local sports make our local stations even more relevant and more valuable than ever.' Is now the time to buy GTN? Find out in our full research report (it's free). Revenue: $782 million vs analyst estimates of $773.2 million (5% year-on-year decline, 1.1% beat) Operating Margin: 11.8%, down from 15.1% in the same quarter last year Market Capitalization: $476.1 million While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Dan Kurnos (Benchmark): Asked about the company's strategic flexibility if deregulatory changes materialize. Chief Legal and Development Officer Kevin Latek indicated Gray Television is considering swaps and other transactions but awaits regulatory clarity before acting. Aaron Watts (Deutsche Bank): Inquired whether advertising declines were due to cancellations or delayed bookings. President Pat LaPlatney clarified that hesitancy, not cancellations, was the issue, and pointed to growth in service categories and unexpected political revenue as positive signs. Patrick Sholl (Wells Fargo): Questioned expectations for political advertising versus prior cycles. CEO Hilton Howell noted that this cycle has seen more substantial and earlier ad buys than previous midterms, but acknowledged political ad revenue is difficult to predict. Craig Huber (Huber Research): Sought details on Assembly Studios' leasing progress and financial contribution. CEO Howell stated occupancy is about 75-80%, with additional upside possible, and CFO Gignac said returns will improve as more leases are signed and new phases of development are completed. Alan Gould (Loop Capital): Asked about the impact of direct negotiations with virtual multichannel video programming distributors (vMVPDs) on retransmission revenue. Latek responded that there is a significant difference in rates, but the net impact would depend on network agreements if regulations change. In the coming quarters, the StockStory team will track (1) the pace of local sports rights adoption and the impact on station viewership and ad sales, (2) evidence of sustained political ad revenue during a non-election cycle, and (3) progress on cost containment translating into improved margins and deleveraging. Developments in industry regulation and the potential for market consolidation will also be important signals for Gray Television's future trajectory. Gray Television currently trades at $4.55, up from $3.72 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today.
Yahoo
02-06-2025
- Business
- Yahoo
CBS to Create CBS Atlanta, Move Affiliation from WANF to WUPA
Gray Media's Atlanta television station WANF will end its 31-year affiliation with the CBS Network to become an independent television station. Gray said that going forward, WANF will leverage its local news operation, complete control of its daily program schedule, and the resources of the locally based Gray Media to better serve the local community with on-air and online content throughout the day that is more responsive to the growing Atlanta metropolis. "As residents of Atlanta along with our families, this company's leadership and our corporate colleagues have been keenly focused on improving what we watch every day on WANF and its sister station, WPCH PeachtreeTV," said Gray's executive chairman Hilton Howell. "We are excited to now take WANF in a new direction that puts full control of the station's offerings in local hands and that allows us to expand our investment in local news, weather and sports by, for and about the people who, like us, live in Greater Atlanta." The affiliation is changing from Gray's WANF to CBS-owned WUPA on August 16. It will also include launch of CBS News Atlanta streaming channel. Gray said it anticipates making additional financial and other resource investments in WANF to enable it to "transition successfully to a strong independent local television station." WUPA will be branded as CBS Atlanta and include the upcoming launch of the CBS News Atlanta streaming channel, "a comprehensive news experience that will keep the Atlanta community updated on the latest regional weather, traffic, local and breaking news." "Launching our first owned CBS station in Atlanta is a milestone moment for us," said Jennifer Mitchell, president of CBS Stations and CBS News and Stations Digital. "This expansion allows us to bring the full strength of CBS' award-winning news, sports and entertainment programming directly to one of the most vibrant and influential markets in the country. With WUPA and the launch of the CBS News Atlanta streaming channel, we're not just delivering content - we're investing in the community, local journalism and ensuring Atlanta viewers receive the same trusted, high-quality journalism that defines CBS in every market we serve." WUPA's live linear feed will also be available on Paramount+, in addition to an expansive slate of original series, hit shows and movies from Paramount Global's portfolio of popular brands.
Business Upturn
02-06-2025
- Business
- Business Upturn
WANF Expands its Commitment to Atlanta News First As an Independent Local Television Station in Gray Media's Home Market of Atlanta
ATLANTA, June 02, 2025 (GLOBE NEWSWIRE) — On August 15, 2025, Gray Media's local television station WANF will end its 31-year affiliation with the CBS Network to begin a new chapter as an independent television station. Going forward, WANF will leverage its successful local news operation, complete control of its daily program schedule, and the resources of the locally based Gray Media to better serve the local community with on-air and online content throughout the day that is more responsive to the growing Atlanta metropolis. 'As residents of Atlanta along with our families, this company's leadership and our corporate colleagues have been keenly focused on improving what we watch every day on WANF and its sister station, WPCH PeachtreeTV,' said Gray's Executive Chairman Hilton Howell. 'We are excited to now take WANF in a new direction that puts full control of the station's offerings in local hands and that allows us to expand our investment in local news, weather and sports by, for and about the people who, like us, live in Greater Atlanta.' Gray anticipates making additional financial and other resource investments in WANF to enable it to transition successfully to a strong independent local television station. Gray's leadership expects that WANF will join the ranks of other local independent news stations that rank among the most viewed stations in their local markets. Former network affiliates like Gray-owned KTVK in Phoenix, WJXT in Jacksonville, and WHDH in Boston are all highly-rated independent stations that have flourished with a strong local news presence. Gray's Co-CEO Pat LaPlatney explained, 'Since acquiring WANF and WPCH in December 2021, Gray has invested tens of millions of dollars to reinvigorate the stations and expand their capabilities. Three years ago, WANF adopted its current call sign to emphasize its new commitment to delivering Atlanta News First. This is not just a slogan, it's the philosophy for the entire organization. The next chapter as an independent station allows WANF to deliver on that commitment more fully, and our experience and our research make us optimistic that viewers and advertisers will increasingly turn to WANF as a result.' Since Gray acquired the stations just three and one-half years ago, Gray and the local team running WANF and WPCH have transformed the stations' offerings, greatly increased their visibility and preferences among local audiences, and delivered important and valued contributions to the community. A few examples include the following: Increasing by 50 percent the number of hours of regularly scheduled local newscasts each week on the stations, from 40 to 60 hours each week; Adding 5 hours of Local News Live newscasts that features stories from across Gray's footprint of local stations and adding 5 hours weekly of Gray's thirty-minute investigative program InvestigateTV+; Creating the largest weather team in the Southeast; Adding original non-news programming including 'ATL Live' and 'Monica Pearson One-on-One;' Adding over 50 new jobs; Acquiring, integrating, and expanding Telemundo Atlanta; Launching Peachtree Sports Network that includes new partnerships with local fan-favorites including the Atlanta Braves, Atlanta Hawks, Atlanta Dream, various Atlanta area high school sports and many other pro-sports teams across the Atlanta area; and Featuring original award-winning journalism that has captured duPont-Columbia Awards, Regional and National Edward R. Murrow Awards, Regional Emmys, nominations for a National Emmy and a Peabody, as well as awards from the Investigative Reporters and Editors, Inc., the National Association of Black Journalists, the National Association of Broadcasters Leadership Foundation, and the Georgia Association of Broadcasters. Erik Schrader, General Manager of WANF and WPCH, observed, 'WANF Atlanta News First is an established, local brand that epitomizes Gray's mission of delivering the trusted local news and information that matters most to our local viewers. Journalism is the heart of what we do across 113 markets. Today's announcement allows us to expand on what we already do best, namely deliver high quality local news, sports, weather and other programming that our viewers deserve.' Gray anticipates that, net of anticipated investments in the Atlanta operation, transitioning WANF as an independent station will further the company's efforts to reduce leverage, improve its balance sheet, and expand its financial flexibility. Cautionary Statements for Purposes of the 'Safe Harbor' Provisions of the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements that are based largely on Gray's current expectations and reflect various estimates and assumptions by Gray. These statements are statements other than those of historical fact and may be identified by words such as 'estimates,' 'expect,' 'intend,' 'anticipate,' 'will,' 'implied,' 'assume' and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond Gray's control include Gray's ability to continue to successfully invest in local news, weather and sports reporting, and other future events. Gray is subject to additional risks and uncertainties described in Gray's quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the 'Risk Factors,' and management's discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, Any forward-looking statements in this communication should be evaluated in light of these important risk factors. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this communication beyond the date hereof, whether as a result of new information, future events or otherwise. About Gray Media: Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray's additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. For more information, please visit Gray Contacts: Erik Schrader, General Manager of WANF and WPCH, 404-327-3100 Sandy Breland, Executive Vice President and Chief Operating Officer, 404-266-8333 Jeffrey R. Gignac, Executive Vice President, Chief Financial Officer, 404-504-9828 Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333 # # # Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
02-06-2025
- Business
- Yahoo
WANF Expands its Commitment to Atlanta News First As an Independent Local Television Station in Gray Media's Home Market of Atlanta
ATLANTA, June 02, 2025 (GLOBE NEWSWIRE) -- On August 15, 2025, Gray Media's local television station WANF will end its 31-year affiliation with the CBS Network to begin a new chapter as an independent television station. Going forward, WANF will leverage its successful local news operation, complete control of its daily program schedule, and the resources of the locally based Gray Media to better serve the local community with on-air and online content throughout the day that is more responsive to the growing Atlanta metropolis. 'As residents of Atlanta along with our families, this company's leadership and our corporate colleagues have been keenly focused on improving what we watch every day on WANF and its sister station, WPCH PeachtreeTV,' said Gray's Executive Chairman Hilton Howell. 'We are excited to now take WANF in a new direction that puts full control of the station's offerings in local hands and that allows us to expand our investment in local news, weather and sports by, for and about the people who, like us, live in Greater Atlanta.' Gray anticipates making additional financial and other resource investments in WANF to enable it to transition successfully to a strong independent local television station. Gray's leadership expects that WANF will join the ranks of other local independent news stations that rank among the most viewed stations in their local markets. Former network affiliates like Gray-owned KTVK in Phoenix, WJXT in Jacksonville, and WHDH in Boston are all highly-rated independent stations that have flourished with a strong local news presence. Gray's Co-CEO Pat LaPlatney explained, 'Since acquiring WANF and WPCH in December 2021, Gray has invested tens of millions of dollars to reinvigorate the stations and expand their capabilities. Three years ago, WANF adopted its current call sign to emphasize its new commitment to delivering Atlanta News First. This is not just a slogan, it's the philosophy for the entire organization. The next chapter as an independent station allows WANF to deliver on that commitment more fully, and our experience and our research make us optimistic that viewers and advertisers will increasingly turn to WANF as a result.' Since Gray acquired the stations just three and one-half years ago, Gray and the local team running WANF and WPCH have transformed the stations' offerings, greatly increased their visibility and preferences among local audiences, and delivered important and valued contributions to the community. A few examples include the following: Increasing by 50 percent the number of hours of regularly scheduled local newscasts each week on the stations, from 40 to 60 hours each week; Adding 5 hours of Local News Live newscasts that features stories from across Gray's footprint of local stations and adding 5 hours weekly of Gray's thirty-minute investigative program InvestigateTV+; Creating the largest weather team in the Southeast; Adding original non-news programming including 'ATL Live' and 'Monica Pearson One-on-One;' Adding over 50 new jobs; Acquiring, integrating, and expanding Telemundo Atlanta; Launching Peachtree Sports Network that includes new partnerships with local fan-favorites including the Atlanta Braves, Atlanta Hawks, Atlanta Dream, various Atlanta area high school sports and many other pro-sports teams across the Atlanta area; and Featuring original award-winning journalism that has captured duPont-Columbia Awards, Regional and National Edward R. Murrow Awards, Regional Emmys, nominations for a National Emmy and a Peabody, as well as awards from the Investigative Reporters and Editors, Inc., the National Association of Black Journalists, the National Association of Broadcasters Leadership Foundation, and the Georgia Association of Broadcasters. Erik Schrader, General Manager of WANF and WPCH, observed, 'WANF Atlanta News First is an established, local brand that epitomizes Gray's mission of delivering the trusted local news and information that matters most to our local viewers. Journalism is the heart of what we do across 113 markets. Today's announcement allows us to expand on what we already do best, namely deliver high quality local news, sports, weather and other programming that our viewers deserve.' Gray anticipates that, net of anticipated investments in the Atlanta operation, transitioning WANF as an independent station will further the company's efforts to reduce leverage, improve its balance sheet, and expand its financial flexibility. Cautionary Statements for Purposes of the 'Safe Harbor' Provisions of the Private Securities Litigation Reform Act: This press release contains certain forward-looking statements that are based largely on Gray's current expectations and reflect various estimates and assumptions by Gray. These statements are statements other than those of historical fact and may be identified by words such as 'estimates,' 'expect,' 'intend,' 'anticipate,' 'will,' 'implied,' 'assume' and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond Gray's control include Gray's ability to continue to successfully invest in local news, weather and sports reporting, and other future events. Gray is subject to additional risks and uncertainties described in Gray's quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the 'Risk Factors,' and management's discussion and analysis of financial condition and results of operations sections contained therein, which reports are made publicly available via its website, Any forward-looking statements in this communication should be evaluated in light of these important risk factors. This press release reflects management's views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this communication beyond the date hereof, whether as a result of new information, future events or otherwise. About Gray Media: Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray's additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. For more information, please visit Gray Contacts: Erik Schrader, General Manager of WANF and WPCH, 404-327-3100Sandy Breland, Executive Vice President and Chief Operating Officer, 404-266-8333Jeffrey R. Gignac, Executive Vice President, Chief Financial Officer, 404-504-9828 Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333 # # #Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
