secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001437749-23-022031
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Television Q2 net loss $9M; core ad revenue +4% YoY; Q3 guidance issued
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- Total revenue $813M, down 6% YoY; net loss attributable to common stockholders $9M ($0.10/sh) vs profit $86M in Q2 2022.
- Core advertising revenue $379M, +4% YoY; retransmission revenue $394M, +3% YoY; broadcast cash flow $251M, -23% YoY.
- Q3 2023 guidance: total revenue $780M-$801M; core ad $360-368M; retrans $370-380M; political $15-16M.
- Q3 expects pre-tax non-cash impairment charge of $33M-$43M in production segment due to Diamond Sports/ACC contract rejection and new CW deal.
- CBS network affiliation renewed for 54 markets in June 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774923022031/0001437749-23-022031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774923022031/gtn20230801_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-022031

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