---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002515"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:20:25.812144+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Gray TV updates Q4 guidance, proposes refinancing of $1.19B term loan, expects $110M from BMI sale

## Summary
- Broadcasting revenue guidance $830-835M; total revenue $860-865M; broadcasting expenses $600-605M; corporate/admin $30-35M.
- Proposes refinancing: extend $1.19B term loan maturity to July 2029 and $500M revolver to Dec 2027.
- Expects ~$110M pre-tax proceeds from BMI sale, closing by end of Q1 2024, to be used for debt repayment or general purposes.
- Anticipates total leverage ratio 5.60-5.65x as of Dec 31, 2023, with $21M cash and $6.21B total debt.
- Records a $21M pre-tax non-cash impairment on certain pre-2023 investments.

## SEC filing metadata
- accession: 0001437749-24-002515
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774924002515/0001437749-24-002515-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774924002515/gtn20240129_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002515
- JSON: https://secwatch.observer/filing/0001437749-24-002515.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002515.txt

## Key facts
- Earnings Releases
  GRAY MEDIA, INC updated its the fourth quarter of 2023 guidance (reaffirmed).
  - Period: the fourth quarter of 2023
  - Guidance: reaffirmed
  - Result: guidance update
  source text: Gray also announced updates to certain of its previously announced guidance for the fourth quarter of 2023, based on preliminary information available to date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/43196/000143774924002515/0001437749-24-002515-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.