Gray Media names Bob Kroeger as new chief technology officer

ATLANTA - Gray Media, Inc. (NYSE:GTN), whose stock has surged nearly 100% year-to-date according to InvestingPro data, has promoted Bob Kroeger to Chief Technology Officer, effective immediately, according to a company press release issued Friday.

Kroeger, who previously served as Chief Information Officer for both Gray and Raycom Media, succeeds David Burke, who retired on July 31. Burke will continue advising the company through the end of 2025. The leadership transition comes as Gray Media trades near its 52-week high, with InvestingPro data showing a remarkable 45% return in the past week alone.

"He has a wealth of experience, and is highly respected by our employees, and across the industry," said Gray’s President and Co-CEO Pat LaPlatney regarding Kroeger’s appointment.

Kroeger brings over 32 years of broadcast engineering and information technology leadership to the role. His career includes executive positions at major broadcast groups, with vice president and CIO roles at Gray Media and Raycom Media. He has also held technology leadership positions at several television stations including WSMV in Nashville, WOIO/WUAB in Cleveland, and WXIX in Cincinnati.

Throughout his career, Kroeger has managed multi-site IT and broadcast engineering operations while supporting enterprise-wide technology initiatives ranging from cloud migration to infrastructure deployments. His expertise spans IT strategy, enterprise security, broadcast system management, and datacenter operations.

Kroeger holds degrees from Northern Kentucky University and the University of Cincinnati.

Gray Media is the largest owner of top-rated local television stations and digital assets in the United States, serving 113 television markets that reach approximately 37 percent of US television households. With annual revenue exceeding $3.5 billion, the company maintains a strong market presence despite analysts forecasting potential sales headwinds this year. For detailed analysis and additional insights, investors can access comprehensive research reports available on InvestingPro, which covers over 1,400 US stocks including Gray Media.

In other recent news, Gray Television reported its second-quarter 2025 earnings, which showed a notable miss on earnings per share (EPS) expectations. The company posted an EPS of -$0.71, which was below the anticipated -$0.37. However, revenue slightly exceeded expectations, coming in at $772 million against the forecasted $766.31 million. Analysts have adjusted their forecasts in light of these results and industry headwinds, with Guggenheim now predicting 2025 revenue of $3.10 billion and adjusted EBITDA of $660 million. In response to these developments, various firms have updated their price targets for Gray Television. Guggenheim raised its target to $7.00, citing recent earnings and guidance, while Benchmark increased its target to $9.00, highlighting the company’s improved balance sheet following a refinancing process. Wells Fargo also raised its price target to $5.00, noting the benefits from mergers and acquisitions. These adjustments reflect the analysts’ varied outlooks on Gray Television’s financial trajectory.

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