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Gray Television, Inc. Extends ABC Network Affiliations With The Walt Disney Company Through 2028

Quiver Quantitative ·  Dec 30, 2024 23:10

Gray Television renews ABC affiliations with Disney for 25 markets through December 31, 2028, enhancing local service and programming.

Quiver AI Summary

Gray Television, Inc. announced the renewal of its agreements with The Walt Disney Company, extending network affiliations for all its ABC-affiliated television stations in 25 markets until December 31, 2028. Gray's President and Co-CEO, Pat LaPlatney, highlighted the importance of this partnership in supporting the stations' commitment to public service and community engagement. Susi D'Ambra-Coplan from Disney expressed pride in the long-standing collaboration, emphasizing the blend of top-notch network programming with vital local content. Gray Media, based in Atlanta, is the largest owner of local television stations in the U.S., serving a significant portion of the nation's TV households while also offering digital marketing services through Gray Digital Media.

Potential Positives

  • Gray Television has secured extensions for ABC affiliations in 25 markets, ensuring continued access to popular network programming for its viewers.
  • The agreements enhance Gray's long-standing partnership with Disney, reinforcing the company's reputation in local broadcasting.
  • This deal allows Gray's ABC affiliates to continue their commitment to public service in their communities through high-quality content and local programming.
  • Gray Television's broad market reach covers approximately 36 percent of U.S. television households, solidifying its significant position in the media landscape.

Potential Negatives

  • Gray Television's reliance on a single network, ABC, for its television stations may pose a risk if the partnership with Disney were to falter or face challenges in the future.
  • The renewal through 2028 may indicate a lack of negotiation leverage, suggesting that Gray is dependent on Disney's content to maintain viewership and market presence.
  • The focus on extending a partnership with Disney could overshadow other strategic opportunities for growth or diversification in content and partnerships within the media landscape.

FAQ

What is the new agreement between Gray Television and Disney?

Gray Television has renewed its network affiliations with Disney for ABC stations across 25 markets until December 31, 2028.

How long is the affiliation extended?

The renewed agreements extend the network affiliations through December 31, 2028.

How many markets are covered by the agreements?

The agreements cover 25 markets where Gray Television operates ABC affiliated stations.

Who commented on the partnership from Gray Television?

Gray's President and Co-CEO, Pat LaPlatney, expressed his satisfaction with the continued partnership with Disney.

What is Gray Television known for?

Gray Television is the largest owner of local television stations in the U.S. and serves 113 television markets.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.


$GTN Insider Trading Activity

$GTN insiders have traded $GTN stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here's a breakdown of recent trading of $GTN stock by insiders over the last 6 months:

  • PAUL MCTEAR sold 17,780 shares.
  • KEVIN PAUL LATEK (EVP Chief L & D Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 155,124 shares.

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$GTN Hedge Fund Activity

We have seen 98 institutional investors add shares of $GTN stock to their portfolio, and 106 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

  • DARSANA CAPITAL PARTNERS LP removed 4,092,063 shares (-100.0%) from their portfolio in Q3 2024
  • UBS GROUP AG removed 2,736,879 shares (-92.1%) from their portfolio in Q3 2024
  • TRIBUTARY CAPITAL MANAGEMENT, LLC removed 1,334,714 shares (-100.0%) from their portfolio in Q3 2024
  • CAPITAL MANAGEMENT CORP /VA added 1,170,990 shares (+27.6%) to their portfolio in Q3 2024
  • MORGAN STANLEY removed 1,070,022 shares (-23.2%) from their portfolio in Q3 2024
  • HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND removed 730,400 shares (-100.0%) from their portfolio in Q3 2024
  • BRIDGEWAY CAPITAL MANAGEMENT, LLC added 694,895 shares (+103.3%) to their portfolio in Q3 2024

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Full Release



Atlanta, Dec. 30, 2024 (GLOBE NEWSWIRE) --

Gray Television, Inc. (NYSE: GTN)

announced today that it has entered into agreements with The Walt Disney Company that extend and renew the network affiliations for all of Gray's ABC affiliated television stations across 25 markets through December 31, 2028.



"We are pleased to announce the further extension of our decades-long relationship with Disney for ABC station affiliations," said Gray's President and Co-CEO, Pat LaPlatney. "These agreements recognize our ABC affiliates' commitment to public service and will help them continue to serve their communities."



"Disney/ABC is incredibly proud of our long-established partnership with Gray to serve 25 outstanding communities across the country," commented Susi D'Ambra-Coplan, SVP, Affiliate Relations, The Walt Disney Company. "With this new agreement, we couldn't be more pleased to pair our best-in-class network shows, news and sports with their invaluable local programming for many more years to come."



The ABC affiliated television stations covered by the new agreements are as follows:













































































































Station



DMA Name


WWSB

Tampa-St. Pete (Sarasota)

WBAY-TV

Green Bay-Appleton

WTVG

Toledo

KSPR-LD

Springfield, MO

KCRG-TV

Cedar Rapids

KOLO-TV

Reno

KTRE & KLTV

Tyler-Longview

WPTA

Ft. Wayne

KSFY & KPRY

Sioux Falls

WGGB-TV

Springfield-Holyoke, MA

WEEK-TV

Peoria

WTVM

Columbus, GA-Opelika, AL

KNOE

Monroe-El Dorado

KSWO

Wichita Falls & Lawton

WALB-D2

Albany, GA

WLOX

Biloxi-Gulfport

WCJB-TV

Gainesville

WDAM-D2

Hattiesburg-Laurel

KOTA-TV, KHSD-TV and KSGW-TV

Rapid City

WHSV-TV

Harrisonburg

KAIT

Jonesboro

WBKO

Bowling Green

KGNS-TV

Laredo

KJCT-LD

Grand Junction-Montrose

WTOK-TV

Meridian




About Gray:




Gray Media, or Gray, is a multimedia company headquartered in Atlanta, Georgia, formally known at this time as Gray Television, Inc. 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 36 percent of US television households. The portfolio includes 77 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station, as well as the largest Telemundo Affiliate group with 43 markets totaling nearly 1.5 million Hispanic TV Households. 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. Gray owns a majority interest in Swirl Films. For more information, please visit



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