While the TV industry is already crying poor for 2017, not everyone is hurting.
In a financial filing, Gray Television says it will pay a "one-time discretionary cash incentive compensation awards" totaling more than $4 million to three top execs. President and CEO Hilton H. Howell Jr. will get $2,488,900; Executive Vice President and Chief Financial Officer James C. Ryan will get $716,130; and Executive Vice President and Chief Legal and Development Officer Kevin P. Latek will get $870,014.
The company reported that the payments are "in recognition of, among other things, the exceptional efforts and contributions made by the executive officers during 2016 in continuing to execute on the Company’s growth strategy despite unexpected challenges in the political advertising environment, in further strengthening the Company’s balance sheet, and in delivering continued strong performance in total shareholder return over the long term."
The report did not say, but we're sure that the newsroom employees at the Gray stations will also be given $50,000 each for their hard work in 2016.
Oh....ummmmmm... maybe not.
H/T Business Journal