ATLANTA, April 14, 2016 /PRNewswire/ -- Gray
Television, Inc. ("Gray" or "we" or "our") (NYSE: GTN and
GTN.A) today announced that it has made a $3 million strategic equity investment in
Syncbak, a technology company that replicates over-the-air
broadcasts for delivery over-the-top (OTT) of the Internet – live
and on-demand. In addition, Gray's Chief Digital and
Technology Officer, Jason Effinger,
has joined Syncbak's Board of Directors.
"We are excited to join the strong leadership and partners of
Syncbak with today's strategic investment," said Gray CEO
Hilton Howell. "From its
founding, Syncbak has impressed us with its technology, its
understanding of local broadcast operations, and its rapid adoption
across the industry. Going forward, we now can participate
even more meaningfully in the evolution of local broadcasting with
the best team out there."
"Gray was the first major television station group to deploy our
platform across all of its stations back in 2013," said Syncbak CEO
Jack Perry. "Gray's
forward-thinking approach was instrumental in helping us create a
solution that is as simple to deploy in New York as it is in Glendive, Montana.
And we are therefore honored to have Gray, a clear market leader
and innovator, as an investor in our company."
"We are delighted to see a major broadcaster like Gray invest in
Syncbak. It speaks volumes as to how far Syncbak has come
since the NAB provided early stage funding for the concept in 2010
via our FASTROAD program," said Sam
Matheny, EVP and CTO of the National Association of
Broadcasters. "Syncbak has done an outstanding job in meeting
industry needs, and their success and adoption by broadcasters
validates the early stage investment strategy we continue today
with PILOT as we continue to foster innovation to benefit our
members."
Syncbak powers the broadcast industry's most successful OTT
solutions, including CBS All Access. Broadcasters use
Syncbak's end-to-end platform for live stream transcoding,
cloud-based rights resolution, cloud-based DVR, device filtering,
geo-location services, content management, stream monitoring and
dynamic ad insertion. Syncbak's technology is currently
deployed in more than 180 television stations across 150
markets, representing 51 broadcast groups and all major networks,
including CBS, ABC, FOX, NBC and The CW.
Additional strategic investors of Syncbak include CBS, the
National Association of Broadcasters, and the Consumer Technology
Association (formerly, the Consumer Electronics Association).
Media technology entrepreneur Jack
Perry founded Syncbak in 2009.
About Gray Television:
Gray Television, Inc. (NYSE: GTN and GTN.A) is a television
broadcast company headquartered in Atlanta, Georgia, that owns and operates
television stations and leading digital assets in markets
throughout the United States. Upon the consummation of all
announced transactions (including announced divestitures), we will
own and/or operate television stations in 50 television markets
that broadcast approximately 180 program streams including 35
channels affiliated with the CBS Network, 26 channels affiliated
with the NBC Network, 19 channels affiliated with the ABC Network
and 13 channels affiliated with the FOX Network. We will then
own the number-one ranked television station in 40 of those 50
markets and the number-one or number-two ranked television station
operations in 49 of those 50 markets. At that time, our
stations will reach approximately 9.4 percent of total United States television households.
www.gray.tv
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SOURCE Gray Television, Inc.