Gray Reports Operating Results for the Three Months and Six Months Ended June 30, 2008

Gray Reports Operating Results for the Three Months and Six Months Ended June 30, 2008 ATLANTA, Aug. 7 /PRNewswire-FirstCall/ -- Gray Television, Inc. ("Gray," "we" or "us") (NYSE: GTN) today announced results from operations for the three months (the "second quarter") and six months ended June 30, 2008 as compared to the three months and six months ended June 30, 2007. Comments on As Reported Results of Operations for the Three Months Ended June 30, 2008: Revenues. Total net revenue decreased $1.0 million, or 1%, to $78.7 million due primarily to decreased local and national advertising revenues that were partially offset by increased political and internet advertising revenue in the current year. The increase in political advertising revenue reflects increased advertising from political candidates in the 2008 primary and... [read full story]