11/03/2024
WYMT LAYS OFF 13; OTHER GRAY STATIONS ALSO CUTTING STAFF
Gray Media has laid off 13 employees at WYMT-TV in Hazard and made similar deep cuts to at least seven other small market stations across the eastern United States.
In addition to WYMT, stations included in the cuts include WTOK in Meridian, Miss.; WVIR in Charlottesville, Va.; WTVY, Dothan, Ala.; KEYC, Mankato, Minn.; WGGB, Springfield, Mass.; WDBJ, Roanoke, Va.; and WWNY, Watertown, N.Y.
Gray has made no formal announcement of the cuts.
According to sources close to the company, workers were laid off Friday with no notice. The cuts included news and sports reporters and off-camera personnel, some of whom had been at the station for more than 25 years. About three-fourths of the sports department was axed, sources said.
Employees of other Gray stations posting on Reddit said WTVY in Dothan, Alabama, laid off seven of its nine reporters and producers, half the employees at KEYC in Mankato, Minnesota, lost their jobs, and WGGB in Springfield, Massachusetts, cut its evening news programming on weekends and some weekday morning shows in addition to the layoffs.
The layoffs appear to be an attempt to reduce spending in smaller markets in favor of larger cities. On July 1, Gray completed transactions in which it sold television stations KCWY in Casper, Wyoming, (population 58,523) and KGWN in Cheyenne, Wyoming, (population 65,141) in exchange for Marquee Broadcasting Inc.’s FCC permit authorizing construction of a new television station to be built in Salt Lake City, Utah, (population 212,570 and metro area population of 1,257,936). The new station will be known as KCBU.
Gray Media, based in Atlanta, owns television stations in 113 markets from Maine to Hawaii and from Alaska to Florida, as well as production companies and digital media businesses. In Kentucky, Gray owns WYMT in Hazard, WKYT in Lexington, WAVE in Louisville, and WBKO in Bowling Green.
In its last quarterly report to the Securities and Exchange Commission, Gray reported revenue of $1.649 billion and a net income of $110 million for the six months ending June 30. Meanwhile, stock prices for the company had plummeted from a high of $10 a share on January 26 to $5.79 at the closing bell Friday.