Gray reports solid 2021 performance and is poised for a strong 2022

Atlanta, feb. 25, 2022 (globe newswire) -- gray television, inc. (“gray,” “we,” “us” or “our”) (nyse: gtn) today announced financial results for the fourth quarter ended december 31, 2021. while the quarter did not include political advertising revenue at the robust levels experienced in the fourth quarter of 2020, our total revenues of $721 million were strong for an off-year of the two-year political advertising cycle, and higher than our anticipated results due to continued improvement in economic conditions and our acquisition of the local media group of meredith corporation on december 1, 2021, and quincy media on august 2, 2021. most notably, in the fourth quarter 2021 our combined local and national broadcast advertising revenue, excluding political advertising revenue (“total core revenue”) increased by 26%, and our retransmission consent revenue increased by 35%. our total revenue for the year ended december 31, 2021 was $2.4 billion, the highest we have ever reported.
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