{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-005348","form_type":"8-K","ticker":"GTN","cik":"0000043196","company_name":"GRAY MEDIA, INC","filed_at":"2025-02-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.016058+00:00","generated_at":"2026-05-26T02:50:05.832730+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Gray Media Q4 net income $156M, political revenue $250M; debt reduced $520M in 2024","bullets":["Q4 total revenue $1,045M (+21% YoY); net income $156M vs. $(22)M loss in Q4 2023.","Political advertising revenue $250M (+658% YoY); full-year political $497M, highest among peers.","Core advertising $380M (-8% YoY) due to political displacement; retransmission $361M (-1%).","Adjusted EBITDA $402M (+86% YoY); debt reduced by $520M in 2024; leverage ratio 5.49x.","Q1 2025 guidance: revenue $764-775M, core advertising $342-347M; cost cuts targeting $60M run-rate."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-005348","json":"https://secwatch.observer/filing/0001437749-25-005348.json","markdown":"https://secwatch.observer/filing/0001437749-25-005348.md","text":"https://secwatch.observer/filing/0001437749-25-005348.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/43196/000143774925005348/0001437749-25-005348-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/43196/000143774925005348/gtn20250225d_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T02:50:05.832730+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}