{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-25-025554","form_type":"8-K","ticker":"GTN","cik":"0000043196","company_name":"GRAY MEDIA, INC","filed_at":"2025-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:02:46.102304+00:00","generated_at":"2026-05-17T16:52:23.803289+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Gray Media Q2 net loss $69M; revenue down 7% to $772M; impairment of $28M from CBS affiliation loss","bullets":["Total revenue $772M (-7% YoY); core advertising $361M (-3%); political $9M (-81%) due to off-year cycle.","Net loss attributable to common stockholders $69M vs. net income $9M in Q2 2024; Adjusted EBITDA $169M vs. $225M.","Recorded $28M impairment from non-renewal of CBS affiliation at Atlanta station WANF.","Completed $900M 9.625% senior secured notes due 2032 and $775M 7.25% notes due 2033; used proceeds to refinance debt.","Pending acquisitions: station swap with Scripps (no cash), SGH purchase (<$2M), BCI purchase ($80M); expected Q4 2025 close."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-25-025554","json":"https://secwatch.observer/filing/0001437749-25-025554.json","markdown":"https://secwatch.observer/filing/0001437749-25-025554.md","text":"https://secwatch.observer/filing/0001437749-25-025554.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/43196/000143774925025554/0001437749-25-025554-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/43196/000143774925025554/gtn20250806_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T16:52:23.803289+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"}