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Gray Television Announces Gains - Broadcasting & Cable

Gray Television Announces Gains

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Gray Television posted a 26% increase in net revenue for the fourth quarter 2006, and a 13% net revenue gain for the full 2006, it announced today. The yearly revenue jumped from $297.1 million in 2005 to $334.7 million last year.

Broadcast cash flow at the company increased 42% to $48.6 million in Q4, compared to $34.3 million in 2005. Meanwhile, broadcast cash flow was up 21% for the full 2006.

Gray’s gains were due in part to acquisitions; the broadcaster has completed purchases of WSAZ Charleston-Huntington and WNDU South Bend since November 2005.

Atlanta-based Gray operates 36 stations in 30 markets, nearly half of them CBS affiliates.

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