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Ryman Hospitality Properties and Gray Television Announce Joint Venture to Create Premium Content Service for Country Lifestyle Consumers
NASHVILLE, Tenn. ,
The Companies plan to transform the current landscape of country music media offerings aimed at the genre’s rapidly growing audience by providing a dedicated home for artist-driven country lifestyle programming. The new channel will deliver a premium entertainment service featuring content that highlights country music artists and the passions, hobbies and love of music they share with their fans.
The 50/50 joint venture will link Opry Entertainment’s network of entertainment venues, programming archive, licensed content and original programming to Gray’s strong local television and digital presence. The new service will be based in Nashville and will be fueled by marketing and promotional resources from both Companies’ existing network of media assets.
The Companies anticipate launching the linear multicast channel in early 2020 across television stations located throughout the country, including those owned by Gray. The Companies expect to launch a companion, premium OTT service in mid-2020. Digital media executive Drew Reifenberger will lead the staffing, development and launch of the channel as General Manager of the joint venture.
Colin Reed, Chairman and Chief Executive Officer of
Pat LaPlatney, President and Co-Chief Executive Officer of Gray, said, “We have believed for some time that tremendous opportunity exists to bring differentiated entertainment offerings that celebrate country music to our audience base. Opry Entertainment’s unparalleled history in the country music industry combined with their special and enduring relationship with the artist community makes them a natural partner to help us deliver this premium content to our local communities.”
Scott Bailey, President of
For more details, including job opportunities, and to keep up with the latest news about this venture, please visit joinusinthecountry.com.
A Note to
Gray currently owns and/or operates television stations and leading digital properties in 93 television markets, including the number-one rated television station in 68 markets and the first or second highest rated television station in 87 markets. Gray’s television stations cover approximately 24 percent of US television households and broadcast approximately 400 separate programming streams, including nearly 150 affiliates of the CBS/NBC/ABC/FOX networks. Gray also owns video program production, marketing, and digital businesses including Raycom Sports, Tupelo-Raycom, and RTM Studios, the producer of PowerNation programs and content. For further information, please visit www.gray.tv.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements as to the Companies’ beliefs and expectations of the outcome of future events that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These forward-looking statements, including the expected timing, completion and effects of the proposed transactions between the Companies, are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Other factors that could cause operating and financial results to differ are described in the filings made from time to time by
Media / Investor Relations Contacts for
|Investor Relations Contacts:||Media Contacts:|
|Mark Fioravanti, President & Chief Financial Officer||Shannon Sullivan, Vice President Corporate and Brand Communications|
|Ryman Hospitality Properties, Inc.||Ryman Hospitality Properties, Inc.|
|(615) 316-6588||(615) 316-6725|
|Todd Siefert, Vice President Corporate Finance & Treasurer||Robert Winters|
|Ryman Hospitality Properties, Inc.||Alpha IR Group|
|(615) 316-6344||(929) 266-6315|
President and Co-Chief Executive Officer
Source: Ryman Hospitality Properties, Inc.