Gray Television’s 2Q Loss Shrinks as Ad Sales Rise

By Andrew Gauthier 

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Associated Press

Gray Television Inc. said Thursday that it managed to narrow its second-quarter losses as advertising revenue at its broadcast stations picked up.

The company, which operates 36 TV stations, booked a net loss of $5.9 million, or 11 cents per share, for the three months ended June 30. That compares with a loss of $10.7 million, or 22 cents per share, a year earlier.

Revenue climbed 16 percent to $75.6 million from $65.1 million. More…