---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-022218"
form_type: "8-K"
ticker: "GTN"
cik: "0000043196"
company_name: "GRAY MEDIA, INC"
filed_at: "2026-07-01T13:25:15+00:00"
generated_at: "2026-07-01T13:26:17.100859+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Gray Media issues $70M notes, buys American Spirit stations for $50M, repurchases $50M preferred at $30M

## Summary
- Issued $70M of 7.250% Senior Secured First Lien Notes due 2033 at par plus accrued interest from Feb 15, 2026.
- Used $40M of proceeds for first closing of acquisition of six TV stations from American Spirit Media for total $50M.
- Used $30M to repurchase 50,000 shares Series A Preferred Stock ($50M liquidation preference), a discount to par.
- Acquired stations: WUPW (Toledo), WDBD (Jackson), WSFX-TV (Wilmington), WXTX (Columbus), KAUZ-TV (Wichita Falls), KVHP (Lake Charles).
- Second closing expected Q4 2026 pending regulatory approvals; Gray expects transaction to be cash flow accretive with no increase in leverage.

## SEC filing metadata
- accession: 0001437749-26-022218
- form_type: 8-K
- ticker: GTN
- cik: 0000043196
- company_name: GRAY MEDIA, INC
- filed_at: 2026-07-01T13:25:15+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/43196/000143774926022218/0001437749-26-022218-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/43196/000143774926022218/gtn20260629_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-022218
- JSON: https://secwatch.observer/filing/0001437749-26-022218.json
- Plain text: https://secwatch.observer/filing/0001437749-26-022218.txt

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