Gray Television reduces debt $519M YTD; authorizes $250M additional repurchases

GRAY MEDIA, INC

Since Jan 1, 2024, reduced total debt principal by $519M; $278M reduction since Oct 1, 2024.
Used $204M cash to repurchase $239M principal of various notes since Nov 8, 2024.
Outstanding debt principal now $5.691B, down from $5.969B at Sep 30, 2024.
Board increased repurchase authorization to $250M to buy back outstanding indebtedness.
Expects meaningful reduction in cash interest expense going forward.

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