secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001437749-24-005289
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray TV Q4 revenue $864M, net loss $22M; Q1 guidance strong; CFO succession plan
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- Q4 total revenue $864M, down 19% YoY due to political comp, but up 20% vs 2021; core ad +2% YoY; net loss $22M ($0.24/share).
- Q1 2024 guidance: total revenue $810-830M, core ad $365-375M (low-mid single digit growth), retrans $375-380M, political $30-33M.
- CFO Jim Ryan to retire after 2025; Jeff Gignac hired as EVP Finance Apr 1, 2024, to become CFO Jul 1, 2024.
- BMI sale closed Feb 8, 2024, net $110M pre-tax; $50M used to pay down revolver; credit facility upsized to $625M.
- NBCUniversal began lease at Assembly Studios; $52M capex expected in 2024 for studio complex; $31M in incentive payments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774924005289/0001437749-24-005289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774924005289/gtn20240220c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-005289

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