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14 Mar 2016

Raycom Media President/CEO Announces Retirement

Raycom Media announced today that Paul McTear, President/CEO will retire at the end of June after being with the company from its inception in 1997 and serving as CEO since 2001.

Since taking over as CEO McTear has guided the company to become the largest privately owned TV broadcast company in the United States now owning or operating 62 television stations in 20 states as well as acquiring key digital and content businesses like PureCars, Tupelo Honey Productions, RTM, and WebStream. The company employs more than 5,000 across the country and produces almost 1500 hours of local news per week.

John Stein, Chairman of Raycom Media’s Board of Directors commended McTear for his integrity and the culture established during his tenure at the company. "Paul was instrumental in creating a collaborative and forward-thinking culture that has continuously delivered industry leading results for our Shareholders and our main lender the Retirement Systems of Alabama. Our Board of Directors is grateful for Paul’s leadership over the years and delighted that he will continue to serve the company as a Board member and advisor."

In 2015 Broadcasting & Cable selected McTear and Raycom Media as Broadcaster and Station Group of the Year for success through Evolution and Innovation. In 2009 McTear received the NAB’s Chuck Sherman Leadership Award for his commitment to community and local TV excellence. In 2007 McTear was inducted into the Broadcasting & Cable Hall of Fame.

Prior to helping launch Raycom Media as the company’s first Chief Financial Officer, McTear was with The Providence Journal Company for 20 years as Vice President of Finance and Corporate Development. While there McTear was instrumental in acquisition strategies, financial planning and corporate development as well as launching two cable programming networks, Television Food Network and America’s Health Network. McTear also had financial overview of The Providence Journal’s cable, paging and cellular telephone companies.

"Denise and I look forward to enjoying retirement life, traveling and having extended time with our children and grandchildren. But I am also honored to continue to serve Raycom Media as a senior advisor as well as serving as a member of the company’s Board of Directors."

The Philadelphia native says he and his wife Denise plan to continue to reside in the River Region area near their 4 sons and grandchildren.