Gray Television, Inc. Provides Earnings Guidance for the First Quarter Ending March 31, 2024 and Fiscal Year 2024
February 23, 2024 at 05:15 pm IST
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Gray Television, Inc. provided earnings guidance for the first quarter ending March 31, 2024 and fiscal year 2024. For the quarter, the company expects Total Core Revenue of $365 million to $375 million, up low to mid-single digit percentage increases. Total revenue of $810 million to $830 million.
For the year, the company expects core revenue of approximately $1.6 billion; retransmission revenue of approximately $1.5 billion; other TV revenue of approximately $70 million; production companies' revenues of approximately $110 million.
Gray Television, Inc. is a multimedia company that owns local television stations and digital assets in the United States. The Company operates through two segments: broadcasting and production companies. The broadcasting segment operates television stations in local markets in the United States. The production companies segment includes the production of television and event content. It serves approximately 113 television markets in the United States. Its portfolio includes approximately 79 markets with the top-rated television station and 102 markets with the first and/or second rated television station. It also owns video program companies Raycom Sports, Tupelo Media Group, PowerNation Studios, as well as the studio production facilities Assembly Atlanta and Third Rail Studios. Its network affiliations include the Big Four networks and many smaller networks. Its stations also provide content through digital platforms, including a local station Website and one or more digital apps.