As part of the new partnership, Gray’s TV sales staff will sell advertising inventory on Premion’s local OTT/CTV networks/apps in Gray’s 93 television markets.
Financial terms were not disclosed.
Premion sells advertising on more than 125 premium-branded networks, ranging from major media networks to virtual MVPDs (multichannel video program distributors) and direct OTT aggregators.
Premion launched three years ago. In 2019, Premion booked $100 million in advertising revenue on its platform. It has not disclosed other financial data, including profitability.
The agreement does not include selling linear, local TV advertising inventory on TV stations. Gray and Tegna will continue to sell advertising for their respective stations. In addition, Tegna will continue to oversee and control the Premion business.
Tegna has 62 television stations in 51 markets, covering 39% of U.S. TV households.
Gray Television has TV stations and digital platforms in 93 television markets that collectively reach approximately 24% of U.S. television households.