secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001437749-23-004472
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Television reports record Q4 revenue $1.07B, net income $173M; enters $300M securitization facility
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- Q4 total revenue $1.072B (+49% YoY); net income attributable to common $173M ($1.88 diluted EPS), up 981% YoY.
- Full-year 2022 total revenue $3.676B (+52% YoY); net income $403M (+961% YoY); political ad revenue $515M.
- New $300M accounts receivable securitization facility (Feb 23) to repay $295M Term Loan B on March 1, 2023.
- Entered interest rate caps on ~$2.6B notional through 2024, capping LIBOR at 5% plus margin; $32M fee due Dec 2025.
- Q1 2023 guidance: total revenue $777M-$796M, core revenue $350M-$360M, retransmission $387M-$393M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774923004472/0001437749-23-004472-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774923004472/gtn20230222_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-004472

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer