An Exciting Year Ahead for Gray Television – Insider Weekends
Key Insights: Gray Television is the nation’s second-largest television broadcaster and currently serves 117 television markets, reaching 36% of US television households. After a large drop in stock price over the last few months, Chairman and CEO Hilton Howell Jr, who has served as CEO since 2008, made a small purchase for a total of $80,934. The company had a weak fiscal 2023, with total revenue declining by 11% YoY to $3.3 billion and reported a net loss of $76 million for the year. Following acquisitions in both 2019 and 2021, the company is highly leveraged, which remains a key concern for numerous investors, as long-term debt totals $6.15 billion against a market cap of just $611.01 million. However, the company is committed to deleveraging over 2024 and will also benefit from a surge in political advertising during the presidential election this year – opening the door to a possible turnaround. Gray Television Inc. (GTN): $5.97 Market Cap: $611.01 M Enterprise Value: $7.48 B Gray Television is a multimedia corporation headquartered in Atlanta, Georgia. Founded in 1946, the company has grown to become the nation’s second-largest television broadcaster and currently serves 117 television markets, reaching 36% of US television households. The company...
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