secwatch.observer — SEC 8-K summary
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Issuer:     GRAY MEDIA, INC (GTN)
CIK:        0000043196
Form:       8-K
Filed at:   2026-09-28T10:30:19+00:00
Accession:  0001437749-26-031279
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Gray Media raises Q3 2026 political ad guidance to $188-195M, lifts total revenue floor to $950M
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- Q3 2026 political advertising guidance raised to $188-195M from the $165-185M given Aug 7; includes about $9M from recent acquisitions.
- Total revenue guidance raised at the low end to $950-965M from $935-965M; core advertising now -1% to flat as reported vs. prior flat.
- Corporate and administrative expense outlook cut to $30-35M from $35-40M; Q3 2025 actuals: revenue $749M, political $8M, core ads $355M.
- Gray expects no outstanding borrowings under its Revolving Credit Facility as of Sept 30, 2026; AR securitization capacity ~$379M, down on prepaid political ads.
- Update issued alongside lender meetings to potentially refinance its credit facility; Q3 2026 results scheduled for Friday, Nov 6, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/43196/000143774926031279/0001437749-26-031279-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/43196/000143774926031279/gtn20260925_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-031279

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