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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Hilton H. Howell, Jr. ExecutiveBoard | Executive Chairman and Chief Executive Officer | President and CEO of Atlantic American Corporation; Chairman of Atlantic American Corporation; Executive Vice President and General Counsel of Delta Life Insurance Company and Delta Fire & Casualty Insurance Company | Hilton H. Howell, Jr. has been with GTN since 1993, serving in various leadership roles. He has played a pivotal role in the company's growth and strategic direction. He also holds significant roles in other corporations, bringing extensive experience in law, insurance, and broadcasting. | |
Donald P. LaPlatney Executive | President and Co-Chief Executive Officer | Board Member of the National Association of Broadcasters | Donald P. LaPlatney joined GTN in 2019 following the merger with Raycom Media, Inc. He has been instrumental in the integration and growth of the company, leveraging his extensive experience in broadcasting and media organizations. | |
James C. Ryan Executive | Executive Vice President and Chief Financial Officer | N/A | James C. Ryan serves as the Executive Vice President and CFO of GTN. The documents do not provide further details about his start date, previous positions, or external roles. | |
Kevin P. Latek Executive | Executive Vice President, Chief Legal and Development Officer | N/A | Kevin P. Latek is the Executive Vice President, Chief Legal and Development Officer at GTN. His role involves significant legal, regulatory, and strategic development responsibilities. | |
Sandra Breland Executive | Executive Vice President and Chief Operating Officer | Board Member of the Carole Kneeland Project for Responsible Journalism | Sandra Breland joined GTN in 2019 and has held various leadership roles, including Senior Vice President of Local Media. She has over 30 years of experience in local broadcasting and has been recognized for her leadership and award-winning coverage. | |
Howell W. Newton Board | Lead Independent Director | Manager of 1899 Management Services, LLC; Managing General Partner of Willwell LLLP | Howell W. Newton has been a director at GTN since 1991 and serves as the Lead Independent Director. He brings considerable financial expertise and consistent leadership to the Board. | |
Lorraine McClain Board | Director | President of Reicon Management, Inc.; Chair of the Board of Directors of Anverse Inc.; Board Member of NSORO | Lorraine McClain has been a director at GTN since March 2022. She brings executive and operational experience in the local media industry, contributing valuable insights to GTN's board. | |
Luis A. Garcia Board | Director | President and Lead Strategist of MarketVision | Luis A. Garcia has been a director at GTN since 2016. He provides strategic marketing expertise and entrepreneurial success, contributing valuable insights to GTN's operations. | |
Paul H. McTear Board | Director | N/A | Paul H. McTear has been a director at GTN since 2019. He previously served as CEO and President of Raycom and has been involved in launching cable programming networks. | |
Richard B. Hare Board | Director | Executive Vice President and Chief Financial Officer of Haverty Furniture Companies, Inc. | Richard B. Hare has been a director at GTN since 2016. He brings significant financial management and accounting expertise to the Board, with experience in various finance roles. | |
Richard L. Boger Board | Director | President and CEO of Lex-Tek International, Inc.; General Partner of Shawnee Meadow Holdings, LLLP; Business Manager for Heathland Holdings, LLLP; Trustee for the Boger-Owen Foundation | Richard L. Boger has been a director at GTN since 1991. He brings extensive managerial and entrepreneurial experience to the Board, with a background in founding and selling commercial insurance services companies. | |
Robin R. Howell Board | Director | Vice President and Director of Delta Life Insurance Company and Delta Fire & Casualty Company; Member of the Board of Directors of Atlantic American Corporation; Chairman and Member of the Executive Committee of the Board of Directors of the High Museum of Art | Robin R. Howell has been a director at GTN since 2012. Her experience in board matters and involvement in various businesses and civic associations provide valuable insights to the company. |
Research analysts who have asked questions during GRAY MEDIA earnings calls.
Alan Gould
Loop Capital
4 questions for GTN
Craig Huber
Huber Research Partners
4 questions for GTN
Daniel Kurnos
The Benchmark Company, LLC
4 questions for GTN
Aaron Watts
Deutsche Bank
3 questions for GTN
David Hamburger
Morgan Stanley
3 questions for GTN
Steven Cahall
Wells Fargo & Company
3 questions for GTN
Avi Steiner
JPMorgan Chase & Co.
2 questions for GTN
Patrick Sholl
Barrington Research
2 questions for GTN
Bill Matthews
MUFG
1 question for GTN
Douglas Pardon
Brigade Capital Management
1 question for GTN
Eli Lapp
BMO Capital Markets
1 question for GTN
Michael Kerrane
Truist Securities
1 question for GTN
Steven Cahill
Wells Fargo & Company
1 question for GTN
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
KCBU | 2024 | Gray Television's KCBU acquisition involved exchanging two existing television stations for a new FCC permit in Salt Lake City, valued at $1 million; the deal, completed on July 1, 2024, generated a non-cash loss of $14 million and strategically enhanced the company’s presence in a larger market by trading Casper and Cheyenne assets. |
WKTB-TV | 2022 | The WKTB-TV acquisition was completed on April 1, 2022, for $31 million in cash and involved acquiring a television station along with critical digital media assets, broadcast licenses, and network affiliation rights; the detailed allocation of the purchase price and the use of income, cost, and market approaches to value the assets underline its strategic and financial significance. |
Recent press releases and 8-K filings for GTN.
- Gray Media's Q2 2025 financial results showed Total Revenue of $772 million, which was above the high-end of guidance, and Core Advertising Revenue of ~$361 million, at the high-end of guidance.
- For the six months ended June 30, 2025, the company reported Total Revenue of $1,554 million and an Adjusted EBITDA of $329 million, with a Net loss of $(65) million.
- As of June 30, 2025, Gray Media's Adjusted Total Indebtedness was $5,460 million, resulting in a Leverage Ratio of 5.60x and a First Lien Leverage Ratio of 2.99x, both within permitted limits.
- The company has proactively managed its debt maturity profile through July 2025 refinancing activities, including issuing 9.625% 2nd Lien Secured Notes and 7.25% 1st Lien Secured Notes, and upsizing its revolver to $750 million, significantly extending maturities and reducing the 2027 maturity tower.
- Gray Media, Inc. has closed its offering of $900 million aggregate principal amount of 9.625% senior secured second lien notes due 2032.
- The net proceeds from the notes were used to redeem 7.000% senior notes due 2027 and repay $402.5 million of its Term Loan F, leaving an outstanding Term Loan F balance of $90 million.
- The company also increased the aggregate commitments under its revolving credit facility by $50 million to $750 million and extended its maturity date from December 1, 2027 to December 1, 2028.
- Following these transactions, there is $700 million of undrawn availability under the Revolving Credit Facility (excluding approximately $8 million of outstanding letters of credit).
- Total revenue reached $782 million in Q1 2025 with a net loss of $9 million, marking a 5% decline vs Q1 2024 .
- Political ad revenue posted $13 million, significantly exceeding the guidance range of $2–4 million .
- Adjusted EBITDA stood at $160 million, reflecting a 19% decline from Q1 2024 .
- Core advertising revenue of $344 million fell by 8% due to channel lineup changes and one less selling day, with retransmission consent revenue nearly flat .
- The company executed a $17 million debt reduction and enhanced liquidity through an expanded AR securitization facility, revolver, and improved credit facilities (leverage ratio: 5.48x) .
- Guidance for Q2 2025 anticipates mid-single digit declines in core advertising revenue compared to Q2 2024 .
- On May 8, 2025, Gray Media, Inc filed an 8-K disclosing investor meeting details, presentation slides, and interactive data (Exhibit 99.1) .
- AR securitization facility increased by $100 million to $400 million and its maturity extended to March 31, 2028 ( ).
- Revolving credit facility increased by $20 million to $700 million, enhancing overall liquidity by approximately $120 million ( ).