secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0001437749-25-025554
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gray Media Q2 net loss $69M; revenue down 7% to $772M; impairment of $28M from CBS affiliation loss
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774925025554/0001437749-25-025554-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774925025554/gtn20250806_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-025554

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