---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-005740"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:54:52.718822+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gray Media Q4 revenue $792M beats guidance; net loss $10M on political cycle comparison

## Summary
- Total revenue $792M exceeded high-end guidance of $782M; net loss $10M vs income $169M in Q4 2024.
- Core advertising $392M (+3% YoY) and net retrans $134M (+3%) both beat high-side guidance.
- Q1 2026 guidance: revenue $755-770M, core advertising ~$344M flat; includes $11M Super Bowl and $15M Olympics revenue.
- Completed WBBJ-TV acquisition for $25M on Feb 13, 2026; pending deals expected to close H1 2026 subject to approvals.

## SEC filing metadata
- accession: 0001437749-26-005740
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774926005740/0001437749-26-005740-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774926005740/gtn20260224d_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-005740
- JSON: https://secwatch.observer/filing/0001437749-26-005740.json
- Plain text: https://secwatch.observer/filing/0001437749-26-005740.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.