Gray Revenue Up 27% in Second Quarter

Acquisitions, local ad sales spell hearty Q2 numbers
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Gray Television reported second quarter revenue of $107.2 million, up 27% from the same quarter a year before. Six acquisitions aggregating 17 television stations accounted for approximately $8.9 million of total revenue in the second quarter. Political advertising and retransmission consent revenue increased in the quarter. 

Gray’s local advertising revenue increased 11% to $56.7 million, while national advertising revenue decreased 2% to $14.8 million.

Internet advertising revenue went up 15% and political advertising increased 1,047% to $8.6 million. 

Adding in results from Gray’s acquired stations to the 2013 second quarter, which Gray calls a Combined Historical Basis, Gray revenue went up 16% in the 2014 second quarter.

Atlanta-based Gray forecasts third quarter local advertising revenue to be up approximately 27% to 30%. National revenue is expected to climb 17%-25%.

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