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Gray TV Executes Repurchase
11/26/2008

Gray Television (NYSE: GTN) has repurchased 883,200 shares of its own common stock at 20 cents per plus commission. The Atlanta broadcast group made the repurchase Nov. 21 on the open market. Gray’s board previously authorized the action, and Gray can buy another 279,200 shares of common or Class A stock under the same authorization.

On Nov. 7, Gray got a delisting warning from the New York Stock Exchange because its share price had been less than a dollar for more than 30 days. Gray was given 10 days to map out a game plan to meet NYSE requirements, and six months to do so.

Gray dipped down to 18 cents Nov. 20 and pushed back up over 30 cents in the days that followed the repurchase.

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