No Political Dip For Gray In Q1


Here’s something every media company would like to see in its Q1 results: Despite an 86% drop in political advertising,¬†Gray Television¬†enjoyed a 17% year-over-year jump in its total revenue as its net income surpassed $10 million.

That’s on an as-reported basis, however. On a “combined historical basis,” total revenue slipped by 1%, to $203.9 million.

Nevertheless, all signs point to a strong Q1 for the TV company, which today (5/4) purchased long-time CBS affiliate WCAX-3 in Burlington, Vt., for $29 million from the Martin family.

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