secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001437749-26-005740
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774926005740/0001437749-26-005740-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774926005740/gtn20260224d_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-005740

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer