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DETROIT - Graham Media Group announced Friday the appointment of Michael Storm as Vice President & General Counsel. Storm joins the television broadcasting company after serving as Senior Counsel for Disney Entertainment.
In his new role, Storm will oversee all legal matters for Graham Media Group, including corporate operations, employment and labor relations, regulatory compliance, and business development initiatives.
Storm’s previous experience at The Walt Disney Company included providing legal guidance on emerging technologies and new initiatives for ABC News and ESPN. He also served as Labor Relations Manager for Disney Parks, Experiences & Products in Orlando, Florida. Before joining Disney, Storm practiced labor and employment law at Fisher Phillips LLP.
"His deep expertise in media law, coupled with his proven record negotiating complex agreements for major television productions and news operations, makes him an ideal fit for our organization," said Catherine Badalamente, President & CEO of Graham Media Group, in a press release.
Storm holds a Bachelor of Science from Cornell University’s School of Industrial and Labor Relations and a Juris Doctor from the University of Notre Dame Law School. He is an active member of The Florida Bar and serves as a student mentor at both Cornell and Notre Dame.
Graham Media Group, a subsidiary of Graham Holdings Company (NYSE:GHC), operates seven local television stations including KPRC (Houston), WDIV (Detroit), WSLS (Roanoke), KSAT (San Antonio), WKMG (Orlando), WJXT (Jacksonville), and WCWJ (Jacksonville). The parent company has demonstrated strong financial discipline, maintaining dividend payments for 12 consecutive years and achieving a "GREAT" financial health score according to InvestingPro analysis. With a P/E ratio of 6.58, the stock currently trades at an attractive earnings multiple relative to its peers.
In other recent news, Graham Holdings Company reported second-quarter earnings that significantly exceeded analyst expectations. The company posted an adjusted earnings per share of $14.33, surpassing the analyst estimate of $10.15. Revenue for the quarter increased by 3% to $1.21 billion, up from $1.18 billion in the same quarter last year, slightly above the consensus estimate of $1.18 billion. These results reflect strong performance across multiple business segments. The earnings report has drawn positive attention from investors. Analysts had projected lower earnings, but Graham Holdings outperformed these forecasts. This development highlights the company’s robust financial health and operational efficiency.
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