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ATLANTA - Gray Media, Inc. (NYSE:GTN) has promoted Bob Kroeger to Chief Technology Officer, effective immediately, the company announced Friday. The announcement comes as Gray Media’s stock shows remarkable momentum, with shares up over 45% in the past week and nearly doubling year-to-date.
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.
"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 in a press release statement.
Kroeger brings over 32 years of leadership experience in television broadcast engineering and information technology to the role. His career includes executive positions at major broadcast groups, with previous roles as Vice President and CIO 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. His expertise spans IT strategy, enterprise security, broadcast system management, datacenter operations, and emerging technologies.
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 a market capitalization of approximately $578 million and annual revenue exceeding $3.5 billion, the company currently trades near its 52-week high. InvestingPro analysis indicates the stock is currently fairly valued, with detailed insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of Gray Media among 1,400+ top US stocks.
In other recent news, Gray Television reported its second-quarter 2025 earnings, revealing an earnings per share (EPS) of -$0.71, which fell short of the forecasted -$0.37. However, the company’s revenue slightly exceeded expectations, coming in at $772 million compared to the projected $766.31 million. In terms of analyst actions, Guggenheim raised its price target for Gray Television to $7.00 from $6.00, maintaining a Buy rating, following the company’s second-quarter results and future guidance. Benchmark also increased its price target to $9.00 from $7.00, citing a revitalized balance sheet and capital structure after recent refinancing. Wells Fargo adjusted its price target to $5.00 from $4.50, attributing this to benefits from mergers and acquisitions, while maintaining an Equal Weight rating. Additionally, Gray Media announced the promotion of Bob Kroeger to Chief Technology Officer, succeeding David Burke, who retired but will continue as an advisor until the end of 2025. These developments are shaping the current landscape for Gray Television and its investors.
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