CBS selects Gray Television's research team for market insights

ATLANTA - Gray Television, Inc. (NYSE: NYSE:GTN), a leading multimedia company, announced Monday that its Strategic Insights & Activation Team (Strat Team) has been chosen by CBS to provide market research and consulting services to all 14 CBS owned and operated television stations.

The partnership, which is the first of its kind, commenced on April 1, 2024. The Strat Team was established by Gray in January 2023 to offer tailored consulting services for its local newsrooms. Following nearly 15 months of conducting almost 100 research projects for Gray's outlets, the team is now extending its services to include several large-market television stations.

Sandy Breland, Gray's Chief Operating Officer, expressed enthusiasm about the collaboration, stating that the Strat Team's performance has surpassed expectations and will be a valuable asset to CBS.

Adrienne Roark, president of Content Development and Integration for CBS News and Stations, and Jennifer Mitchell, president of CBS Stations, both acknowledged the anticipated contribution of the Strat Team's expertise to their strategic planning and content delivery efforts.

The Strat Team is led by Chris Archer, Vice President of Research and Consulting, and Tony Calfo, Director of Research at Gray. The team's consultants and analysts bring a mix of recent newsroom leadership and extensive experience in data-driven storytelling, digital, and marketing strategies.

Gray Television is headquartered in Atlanta, Georgia, and owns a significant number of top-rated local television stations and digital assets across the United States. The company's portfolio includes 79 markets with the top-rated television station and 102 markets with the first or second highest rated television station, reaching approximately 36 percent of U.S. television households.

The information about this partnership is based on a press release statement issued by Gray Television.

In light of Gray Television's recent announcement of their partnership with CBS, it is pertinent to examine the company's financial health and market performance through data provided by InvestingPro.

As of the last twelve months as of Q4 2023, Gray Television, Inc. (NYSE: GTN) has a market capitalization of $598.13 million and is trading at a price to book ratio of 0.31, indicating that the company's stock is trading at a low multiple of its book value. This can be an attractive metric for value investors looking for potential undervalued stocks.

Despite a challenging environment reflected by a revenue decline of 10.75% during the same period, the company's gross profit margin stands at a solid 27.4%. Interestingly, analysts have a positive outlook on Gray Television's net income, expecting it to grow within the year.

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This is complemented by the InvestingPro Tip that the company's liquid assets exceed its short-term obligations, suggesting a strong liquidity position that may support its operational needs and investment in strategic initiatives, such as the one with CBS.

Still, it is important for investors to note that the stock has experienced significant volatility, with a 33.17% drop in the three-month price total return as of the date provided. Additionally, two analysts have revised their earnings expectations downwards for the upcoming period, which could signal caution.

For those seeking to delve deeper into Gray Television's potential and access more comprehensive analysis, InvestingPro offers additional insights. There are 8 more InvestingPro Tips available for GTN, which can help investors make more informed decisions. To explore these tips and metrics in detail, visit InvestingPro and consider using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.