"Baywatch" debuted on NBC in 1989, but was cancelled after only one season, when it placed 73rd out of 103 shows in the seasonal ratings, and also because the production studio, GTG, (a joint venture of television station owner Gannett Company, later spun off into Tegna, and Grant Tinker, which was established only to produce the newsmagazine based on Gannett's newspaper "USA Today") went out of business. Due to high production costs, GTG was unable to finance the series any further.