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Gray Media
Gray Media traces its roots to 1897, when it began as a single newspaper in Albany, Georgia, before transitioning into broadcasting in the 1950s.
Gray Media
Gray Media traces its roots to 1897, when it began as a single newspaper in Albany, Georgia, before transitioning into broadcasting in the 1950s. The company shifted its headquarters to Atlanta and listed on the New York Stock Exchange in 1996. Hilton H. Howell Jr. has led the firm as Executive Chairman and CEO, guiding an acquisition strategy that has transformed it from a regional operator into the nation's second-largest owner of local television stations by market reach (per public record). The firm generates revenue primarily from local broadcast advertising, retransmission consent fees paid by cable and satellite providers, and political advertising during election cycles. Gray owns or operates stations in 113 markets, spanning states from Maine to Alaska, including affiliates of all four major networks. Its digital portfolio extends the reach of its local news brands through websites and mobile apps, while its ownership structure is controlled by a publicly traded common stock (NYSE: GTN). With a market capitalization reflecting the cyclical ad business, Gray operates more than 180 stations. In February 2025, the company completed its rebranding from Gray Television to Gray Media, signaling a broader identity that encompasses its digital production house, Assembly Atlanta, and the Swirl Films studio acquisition. The firm employs thousands of local journalists and producers, with a footprint that makes it a dominant buyer of broadcast syndication programming. Gray is distinct among pure-play TV station groups for its ownership structure: the Howell family retains voting control through super-voting shares, a structure that allows the CEO to pursue decade-long local journalism investments without quarterly earnings pressure forcing cuts. This governance architecture is unusual among scaled consolidators and explains the firm's willingness to operate smaller-market stations that peers often discard.
General information
Firm type
Asset Manager
Year founded
1897
Location
Region
North America
Country
United States
City
Atlanta
Corporate office
Atlanta, GA, United States
Principals
Hilton H. Howell Jr.
President and CEO
Pat LaPlatney
Co-CEO and President, Broadcast
Sandy Breland
Chief Operating Officer
Kevin Latek
EVP, Chief Legal and Development Officer
Jeff Gignac
EVP and Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Gray Media?
Hilton H. Howell Jr. is President and CEO of Gray Media. Co-CEO Pat LaPlatney oversees broadcast operations. The executive leadership team includes COO Sandy Breland, CFO Jeff Gignac, and EVP Kevin Latek, all of whom participate in strategic decisions around acquisitions and capital allocation (per the firm's website).
How did Gray Media achieve its current scale?
Gray Media grew through a series of large acquisitions: Raycom in January 2019, Quincy Media, and Meredith Corporation's Local Media Group. These deals transformed the company from a small regional broadcaster into a national media owner with 117 full-power TV markets reaching about 37% of US households (per Gray Media's About page).
Is Gray Media structured as a family office or a public company?
Gray Media is a publicly traded corporation (NYSE: GTN), not a family office or private fund. It operates under SEC reporting requirements with quarterly earnings and a board of directors. The founding family retains some legacy involvement but the company is governed by public market standards.
Does Gray Media invest in venture or private equity?
Gray Media's capital deployment is primarily through acquisitions of local television stations and media properties. It also operates video production companies (Raycom Sports, Tupelo Media Group, PowerNation Studios) and studio facilities (Assembly Atlanta, Third Rail Studios). It does not publicly report venture or private equity fund commitments.
What investment stages does Gray Media typically target?
Gray Media has historically acquired established broadcasting companies, not early-stage startups. Its acquisitions target mature, cash-flow-generating local TV station groups. The company also builds and operates digital marketing and video production businesses organically.
Which sectors does Gray Media focus on?
Gray Media focuses exclusively on media and broadcasting: local television stations, digital marketing services, video production, and studio facilities. It has not disclosed investments outside of these areas.
Where does the underlying wealth of Gray Media come from?
Gray Media's founding wealth originated from the Albany Herald newspaper, established in 1891 in Albany, Georgia. The company later transitioned into television broadcasting and went public. Today it is a widely held public company, not a vehicle for a single family's wealth (per the firm's history page).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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