<SEC-DOCUMENT>0001437749-17-020233.txt : 20171206
<SEC-HEADER>0001437749-17-020233.hdr.sgml : 20171206
<ACCEPTANCE-DATETIME>20171206160008
ACCESSION NUMBER:		0001437749-17-020233
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171206
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171206
DATE AS OF CHANGE:		20171206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAY TELEVISION INC
		CENTRAL INDEX KEY:			0000043196
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		IRS NUMBER:				580285030
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13796
		FILM NUMBER:		171242290

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042668333

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS SYSTEMS INC /GA/
		DATE OF NAME CHANGE:	19950612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19911011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GRAY COMMUNICATIONS SYSTEMS INC
		DATE OF NAME CHANGE:	19880331
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>gtn20171206_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
<head>
	<title>gtn20171206_8k.htm</title>
	<!-- Created by RDG HTML Converter v1.1.0.0 12/6/2017 11:24:39 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<hr style="height: 3px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 0 0 3pt 0">
<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>____________________</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>____________________</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Pursuant to Section<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;13 or 15(d) of the Securities and Exchange Act of 1934</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Date of Report (Date of earliest event reported): December 6, 2017</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>____________________</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:24pt;margin:0pt;text-align:center;"><b>GRAY TELEVISION, INC.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Exact Name of Registrant as Specified in Its Charter)</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" id="TBL1" style="width: 90%; text-indent: 0px; font-size: 10pt; margin: 0pt 5%; font-family: Times New Roman;">

		<tr>
			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Georgia</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(State or <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Other Jurisdiction</font></b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>of Inc<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">orporation)</font></b></p>
			</td>
			<td style="vertical-align: top; width: 32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>001-13796</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Commission<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> File Number)</font></b></p>
			</td>
			<td style="vertical-align: top; width: 34%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>58-0285030</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(IRS Employer</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Identification No.)</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
			<td style="vertical-align: top; width: 32%;">&nbsp;</td>
			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
			<td style="vertical-align: top; width: 32%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>4370 Peachtree Road, NE, Atlanta, GA</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>30319</b></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(Address of Principal Executive Offices)</b></p>
			</td>
			<td style="vertical-align: top; width: 34%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Registrant<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code: (404) 504-9828</font></b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>Not Applicable</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>(Former Name or Former Address, if Changed Since Last Report)</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB2" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family: Times New Roman; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:12pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB3" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family: Times New Roman; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:12pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB4" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family: Times New Roman; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:12pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB5" style="width:100%;font-family:Times New Roman, Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family: Times New Roman; margin-right: 0pt; margin-top: 0pt; text-align: left; margin-bottom: 0pt; font-size: 10pt;">&#9744;</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:12pt;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 7.7pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt 7.7pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Emerging growth company <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<hr style="height: 1px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 3pt 0">
<hr style="height: 3px; color: #000000; background-color: #000000; width: 100%; border: none; margin: 0 0 3pt 0">
<p style="margin: 0pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 8.01 Other Events. </b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">On December 6, 2017, Gray Television, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing the completion of its underwritten public offering of shares of the Company&rsquo;s common stock (the &ldquo;Offering&rdquo;). The Company previously disclosed the Offering in Current Reports on Form 8-K filed or furnished to the SEC on November 27, 2017 and December 4, 2017. The Company issued a total of 17.25 million shares of common stock in the Offering, which included 2.25 million shares of common stock issued pursuant to the full exercise of the underwriters&rsquo; over-allotment option. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 9.01 Financial Statements and Exhibits. </b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" id="TBL6" style="margin: 0pt; width: 100%; text-indent: 0px; font-size: 10pt;">

		<tr>
			<td style="vertical-align: top; width: 6%; text-align: right;">(d)</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">Exhibits.</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">&nbsp;</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Number</b></p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Exhibit</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 6%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">99.1</p>
			</td>
			<td style="vertical-align: top; width: 1%;">&nbsp;</td>
			<td style="vertical-align: top; width: 93%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_101613.htm" style="-sec-extract:exhibit;">Press release, dated December 6, 2017</a></p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>SIGNATURES</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:18pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" id="TBL7" style="margin: 0pt; width: 100%; text-indent: 0px; font-size: 10pt;">

		<tr>
			<td style="vertical-align: top; width: 52%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>GRAY TELEVISION, INC.</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 52%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 52%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; width: 45%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 52%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date: December 6, 2017</p>
			</td>
			<td style="vertical-align: top; width: 3%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 45%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/ James C. Ryan</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 52%;">&nbsp;</td>
			<td style="vertical-align: top; width: 3%;">&nbsp;</td>
			<td style="vertical-align: top; border-bottom: 1px none rgb(0, 0, 0); width: 45%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">James C. Ryan</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Executive Vice President and Chief Financial Officer</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex_101613.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
<head>
	<title>ex_101613.htm</title>
	<!-- Created by RDG HTML Converter v1.1.0.0 12/6/2017 11:30:30 AM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: Times New Roman, Times, serif;font-size: 10pt;margin-left: 10px;margin-right: 10px;">
<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif"><b>Exhibit 99.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><img src="a1.jpg"></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Gray Television Completes Public Offering of Common Stock </b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Atlanta, Georgia <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&mdash; December 6, 2017&hellip; Gray Television, Inc. (&ldquo;Gray,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; or &ldquo;our&rdquo;) (NYSE: GTN and GTN.A) announced today that it has completed its previously announced and priced underwritten public offering of shares of its common stock at a price to the public of $14.50 per share. Gray issued a total of 17.25 million shares of common stock in the offering, which included 2.25 million shares issued pursuant to the full exercise of the underwriters&rsquo; over-allotment option. After giving effect to the offering, Gray had 83,253,588 shares of common stock, and 6,598,377 shares of Class A common stock, issued and outstanding. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">The gross proceeds from the offering were approximately $250.1 million excluding underwriting discounts, commissions and transaction expenses. We placed the net proceeds from the offering in our corporate treasury for general corporate purposes, and such net proceeds may be used from time to time for, among other things, repayment of outstanding debt, capital expenditures, the financing of possible future business expansions and acquisitions, increasing our working capital and the financing of ongoing operating expenses and overhead.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Wells Fargo Securities served as the Sole Book-Running Manager and representative of the underwriters for the offering. BofA Merrill Lynch and Deutsche Bank Securities served as Senior Co-Managers for the offering, and Stephens Inc., Barrington Research, Benchmark, G.research, LLC and Noble Capital Markets served as Co-Managers for the offering.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>About Gray</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Gray owns and/or operates over 100 television stations across 57 television markets that collectively broadcast over 200 program streams including over 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network and the FOX Network. Our portfolio includes the number-one and/or number-two ranked television station operations in essentially all of our markets, which collectively cover approximately 10.4 percent of total United States television households. For further information, please visit www.gray.tv.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Cautionary Statements for Purposes of the &ldquo;Safe Harbor&rdquo; Provisions of the Private Securities Litigation Reform Act</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">This press release contains statements that constitute &ldquo;forward-looking statements&rdquo; within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These &ldquo;forward-looking statements&rdquo; are statements other than statements of historical fact, and may relate to, among other things, statements regarding our current expectations and beliefs as to the uses of proceeds from the offering, other future events, and other risks detailed in the prospectus supplement and accompanying prospectus related to the offering and the shelf registration statement. Actual results are subject to a number of risks and uncertainties and may differ materially from the current expectations and beliefs discussed in this press release. All information set forth in this release is as of the date hereof. We do not intend, and undertake no duty, to update this information to reflect future events or circumstances. Information about certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are included under the captions &ldquo;Risk Factors&rdquo; and &ldquo;Management<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo; in our Annual Report on Form 10-K for the year ended December 31, 2016 and may be contained in reports subsequently filed with the SEC and available at the SEC&rsquo;s website at www.sec.gov. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">4370 Peachtree Road, NE, Atlanta, GA 30319 | <font style="font-family:Times New Roman, Times, serif; font-size:10pt">P</font><font style="font-family:Times New Roman, Times, serif; font-size:10pt"> 404.504.9828</font><font style="font-family:Times New Roman, Times, serif; font-size:10pt"> F </font><font style="font-family:Times New Roman, Times, serif; font-size:10pt">404.261.9607 | www.gray.tv</font></div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Gray Contacts</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Web site: www.gray.tv</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Jim Ryan</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, Executive Vice President and Chief Financial Officer, 404-504-9828 </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Kevin P. Latek</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, Executive Vice President, Chief Legal and Development Officer, 404-504-9828</font></p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>a1.jpg
<TEXT>
begin 644 a1.jpg
M_]C_X  02D9)1@ ! 0$ E@"6  #_X@Q824-#7U!23T9)3$4  0$   Q(3&EN
M;P(0  !M;G1R4D="(%A96B 'S@ "  D !@ Q  !A8W-P35-&5     !)14,@
M<U)'0@                  ]M8  0    #3+4A0("
M                                             !%C<')T   !4
M #-D97-C   !A    &QW='!T   !\    !1B:W!T   "!    !1R6%E:   "
M&    !1G6%E:   "+    !1B6%E:   "0    !1D;6YD   "5    '!D;61D
M   "Q    (AV=65D   #3    (9V:65W   #U    "1L=6UI   #^    !1M
M96%S   $#    "1T96-H   $,     QR5%)#   $/   " QG5%)#   $/
M" QB5%)#   $/   " QT97AT     $-O<'ER:6=H=" H8RD@,3DY."!(97=L
M971T+5!A8VMA<F0@0V]M<&%N>0  9&5S8P         2<U)'0B!)14,V,3DV
M-BTR+C$              !)S4D="($E%0S8Q.38V+3(N,0
M                                                    6%E:(
M     /-1  $    !%LQ865H@                     %A96B        !O
MH@  ./4   .06%E:(        &*9  "WA0  &-I865H@        )*    ^$
M  "VSV1E<V,         %DE%0R!H='1P.B\O=W=W+FEE8RYC:
M    %DE%0R!H='1P.B\O=W=W+FEE8RYC:
M                                  !D97-C         "Y)14,@-C$Y
M-C8M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C92 M('-21T(
M     "Y)14,@-C$Y-C8M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C92 M
M('-21T(                             9&5S8P         L4F5F97)E
M;F-E(%9I97=I;F<@0V]N9&ET:6]N(&EN($E%0S8Q.38V+3(N,0
M    +%)E9F5R96YC92!6:65W:6YG($-O;F1I=&EO;B!I;B!)14,V,3DV-BTR
M+C$                                  '9I97<      !.D_@ 47RX
M$,\4  /MS  $$PL  UR>     5A96B       $P)5@!0    5Q_G;65A<P
M       !                         H\    "<VEG(     !#4E0@8W5R
M=@        0     !0 *  \ %  9 !X (P H "T ,@ W #L 0 !% $H 3P!4
M %D 7@!C &@ ;0!R '< ? "! (8 BP"0 )4 F@"? *0 J0"N +( MP"\ ,$
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M])5?E<F6-):?EPJ7=9?@F$R8N)DDF9"9_)IHFM6;0INOG!R<B9SWG62=TIY
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M# P,# P,# P,#/_  !$( %\ M ,!(@ "$0$#$0'_Q  ?   !!0$! 0$! 0
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M_P"(\</RGRY%P[B,7#^>I/V=_2/O;_*Q^G9+]'?Q1SBE&O5Q:HW^S3I<Z_\
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MZ9K\Q?V4?AY<?$/QQJ/CC7F6\:.YEF66Y.?M-XY9I)6)_NAF&>Q8^G'?4SC
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M<W@6/XD7'Q>TCXM>$]/NX8]8TW4O#<6GLBR.J)M="6VEF"[MXVEE.&&13?\
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MB6"W6G:==YVY^Y<21G]$-?1G[..J1Z9\9-)9F_=W7FVX8\ Y4X_/ QZUY_\
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M"PK&A4(&1?+<IABK'D=1_5V;9//C'A_!YEE59*2@EULW9:::?>?GW@WQ3DW
M/'F,P7%N%=;"RFY.-KNSYK-:J[3:T_R/Z O^"?'[4J?M>?LJ^$?&4DT#:M=V
MBVNL11+M%O?Q#9.F.PW@D>S"O;X^"W-?,O\ P37_ &ROA9^U1\#M-3X=VVE^
M&+K1[=8M1\*1*D4^AN,;AL'WXBW2900>A(;*CZ5C);.1S]<U^35L+B,--X?%
M1<:D='?OU/VK&9A@,;B:F+RR/+0J2;@KIVBW=*Z[+0FEQ@9KRG]KC]EWP_\
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MT6 "2X91D@U?T?XVZ?J^HVUM!9ZDWVA8Y/-V)Y:12.(TD8AR5#,0-I&Y>25
MYKKY?#%A/*LDEK;O)&YD1FB4E'.26''7D\^_N:6V\,Z?9M(8;.UC\Z0S2;(E
M7S')!+-@<L2 <GGB@#BQ\:DU>QU1K/3[RS.DZU_8LAU=&L(97 !,D;D'>AW
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,H **** "BBB@#__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
