Gray Media Names Jacque Harms as General Manager of KKTV
Gray Media, Inc. (NYSE: GTN), a leading multimedia company, recently appointed Jacque Harms as the General Manager of KKTV, the CBS affiliate in Colorado Springs. With over thirty years in the media industry, Harms brings an impressive track record to her new position, having previously served as General Manager at WTOK-TV in Meridian. Her extensive experience positions her well to enhance KKTV's operations and community engagement.
Harms' Proven Track Record in Broadcasting
During her time at WTOK-TV, Harms led the station to significant achievements, including being named the Mississippi Association of Broadcasters Small Market Station of the Year. Additionally, under her leadership, the station was recognized as a finalist for the prestigious National Association of Broadcasters Service to America award. Notably, WTOK-TV experienced a tremendous digital audience growth, outperforming its competition by 144% and improving its ratings by 34% last year, illustrating her impactful leadership.
Extensive Experience Across Multiple Roles
Harms' career encompasses various roles in the broadcasting industry, including positions as a news director, anchor, reporter, and producer at KNOP-TV in North Platte, Nebraska. Her commitment to the industry is further highlighted by her contributions to associations, such as her role on the MAB Board of Directors and her involvement in launching programs to support women in broadcasting.
Commitment to Engaging Content in Colorado
Expressing enthusiasm about joining KKTV, Harms emphasized her strong commitment to delivering compelling content across both broadcast and digital channels. She recognizes the importance of high-quality news and weather reporting in keeping the community informed and connected.
Gray Media's Expansion and Financial Health
Headquartered in Atlanta, Georgia, Gray Media operates as the largest owner of local television stations and digital properties in the nation, covering 113 television markets and reaching approximately 36% of US television households. Their portfolio includes numerous top-rated stations and serves a diverse audience, including a significant number of Hispanic households through their Telemundo affiliates.
Recent Financial Performance
Recent financial reports reveal that Gray Media generated $3.46 billion in revenue in the last year, with an EBITDA of approximately $946 million. This solid financial foundation supports ongoing innovations and enhancements within the company.
Strategic Moves for Sustained Growth
The latest developments include a substantial 18% increase in revenue for Q3, reaching $950 million, alongside a turnaround from a net loss to a net income of $83 million. Gray Media is proactively implementing cost-reduction strategies aimed at lowering operating expenses by $60 million annually and reducing net debt by $500 million within the year.
Future of Leadership and Affiliations
In the backdrop of these advancements, Nancy Johnson, a seasoned General Manager from Alaska, is set to retire in 2025, signifying a shift in Gray Media's leadership landscape. Additionally, Gray has renewed its affiliate agreements with Disney for all ABC affiliated stations, solidifying its market position through December 2028.
Conclusion
Recent adjustments in price targets from key financial institutions indicate a cautious outlook for Gray Television amidst a slower than expected broadcast TV political advertising climate. However, the company's ongoing strategic initiatives reflect its determination to bolster its financial health and maintain a competitive edge in the ever-evolving broadcasting landscape.
Frequently Asked Questions
Who is Jacque Harms?
Jacque Harms is the new General Manager of KKTV and has over 30 years of experience in the media industry.
What achievements does Harms have in her career?
Harms has led WTOK-TV to accolades such as the Mississippi Association of Broadcasters Small Market Station of the Year.
What is Gray Media's market reach?
Gray Media operates in 113 television markets, reaching approximately 36% of US television households.
What financial performance did Gray Media achieve recently?
Gray Media reported $3.46 billion in revenue last year and an adjusted EBITDA of $946 million.
What are Gray Media's future plans?
The company aims to implement cost-reduction strategies and reduce its net debt significantly while enhancing its broadcasting capabilities.
