BlackRock’s Media Moves: First Scripps, Now Two Others

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In a SC 13G/A filing with the SEC, BlackRock Inc. recently revealed that now holds 8,593,267 Class A common shares of The E.W. Scripps Co.


It turns out that BlackRock now holds a significant percentage of shares in another TV company, and is trimming its stake in one of the audio content industry’s biggest radio station groups.

A February 5 filing made by BlackRock confirms that it now holds 6,716,160 shares in Gray Television.

That accounts for 7.2% of all outstanding shares.

Gray shares were trading at $21.94 just prior to Thursday’s Closing Bell on Wall Street.

Some 257 institutions hold GTN shares; 95% of all shares are held by institutions.

BlackRock has been a holder of Gray shares for several years. In February 2017, it reported that as of Dec. 31, 2016, it had 25,125 shares of GTN, lowering its stake from 47,136 on Nov. 8, 2016.

In April 2015, BlackRock disclosed a 4.5% ownership in Gray.

Thus, the new position is one of its larger holdings of the TV company.

The other media company that sees BlackRock disclosing a stake in — albeit, a lower one — is Entercom Communications.

The radio and audio company known for Radio.com and its ownership of Cadence 13 podcast firm saw some 8,979,945 shares reported as owned by BlackRock as of Dec. 31, 2019.

That comprises 6.7% of all Entercom shares.

Some 77% of ETM stock is held by institutions, and BlackRock had on Sept. 29 7.03% of all Entercom shares.

As such, BlackRock is trimming its stake in ETM by share count.

That said, BlackRock is the big No. 3 institutional holder of Entercom stock, behind No. 2 Vanguard Group (with 8.32% ownership) and JP Morgan Chase & Co. (with 9.17% ownership).

Entercom shares ended Thursday’s trading at $4.52 per share.

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