Gray Television Inc. (“Gray,” the “Company,” “we,” “us,” or “our”) (NYSE: GTN) announced today that Chief Financial Officer Jim Ryan has notified the Company of his voluntary decision to transition into retirement after 2025. Gray and Jim have agreed that he will remain with Gray as a Senior Advisor through his retirement to assist with a seamless transition of his duties.
To succeed Jim as CFO, Gray announced the hiring of Jeff Gignac, who currently serves as a Managing Director and Head of Media & Telecom Investment Banking at Wells Fargo Securities. Jeff has worked closely with Jim and the Company as one of its lead bankers for the past several years. Mr. Gignac will join Gray, initially as Executive Vice President, Finance, on April 1, 2024, and he will step into Mr. Ryan’s role as Executive Vice President, Chief Financial Officer on July 1, 2024. Mr. Ryan will work closely with Mr. Gignac and the entire Gray executive team until he retires from the Company at the end of 2025.
Jim joined Gray as its CFO in 1998 upon our acquisition of Busse Broadcasting, where Jim had also served as CFO. In the ensuing 25 years, Jim’s role remained the same, but the position became ever more complicated as Gray grew from a small regional media company to the nation’s second largest broadcast company. During his tenure, Gray entirely divested its newspapers, paging, satellite uplink and other businesses, while acquiring scores of television stations through multiple transactions including those involving Bostick Broadcasting (1999), Benedek Broadcasting (2002), the University of Notre Dame (2006), Yellowstone Television (2013), Hoak Media (2014), SJL Holdings (2014), Schurz Communications (2016), Raycom Media (2019), Quincy Media (2021), Meredith Corporation (2021), and many others.
“Jim has made tremendous contributions to Gray Television during his 25-year tenure,” said Gray’s Executive Chairman and CEO Hilton Howell. “He has…
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