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Investor Presentaiton

Gray Leads the Industry in Ratings Household Rating Analysis - November 2014 5.4 5.2 4.9 4.9 4.4 4.1 3.9 3.8 3.7 3.6 3.3 3.2 3.1 gray Television Digital Mobile 27 2.7 2.5 gray Cox Raycom Media General Hearst Meredith Gannett ABC O&O Sinclair Viacom-CBS Nexstar Tribune Scripps NBC O&O Fox Source: Nielsen Media Research, November 2014; M-Sun/6a-2a Gray Television, Inc. 11
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