Gray Television, Inc. (NYSE:GTN) shares gained by 5.69%


Dallas, Texas 07/02/2013 (Financialstrend) – Shares of Gray Television, Inc. (NYSE:GTN) gained by 5.69 percent to close at $7.61 on Monday. The shares had recorded an intraday high of $7.75 per share and intraday low of $7.28 per share during the day. With last trading session, shares of Gray Television, Inc. (NYSE:GTN) had 52 week high of $7.75 and 52 week low price of $1.37 per share.

Gray Television, Inc. (NYSE:GTN) operates and owns television stations with 40 primary channels in 30 television markets and also has 30 secondary channels. The company is a television broadcast company with its 19 primary channels and one secondary channel are having been adopted by the CBS Network owned by CBS Inc, 10 primary channels adopted by the NBC Network owned by National Broadcasting Company and 8 primary channels and one secondary channel adopted by the ABC Network owned by American Broadcasting Company. Further 3 primary channels and one secondary channel are adopted with the FOX Network owned by the FOX Broadcasting Company. The 9 local news/weather channels of the company are broadcasted in existing markets by the company. KSNB-TV was acquired by the company on February 2013.

Gray Television, Inc. (NYSE:GTN) said that the President and Chief Operating Officer Mr. Robert S. Prather has resigned from all positions he had held with the Company and also that the Company’s Chief Executive Officer Mr.  Hilton H. Howell has been appointed as President as well. Mr.  Hilton H. Howell also thanked the Ex- president and said would focus well on their corporate leadership of the company. Gray Television, Inc. (NYSE:GTN) had been trading with huge volumes at 1.25 million shares on Monday, while the average level of trading in the company is only 632,710 shares per day. With 57.93 million shares outstanding in the market, Gray Television, Inc. (NYSE:GTN) presently has a market cap of $440.86 million and an institutional ownership at 54 percent of total capital.