Highest-materiality recent filing
Gray Media adds $75 million Term Loan G and redeems $150 million of 10.500% 2029 notes
Gray Media entered an eighth amendment to its Senior Credit Facility, increasing Term Loan G due July 15, 2030 by $75 million to $675 million aggregate principal.
Gray Media raises Q3 2026 political ad guidance to $188-195M, lifts total revenue floor to $950M
Q3 2026 political advertising guidance raised to $188-195M from the $165-185M given Aug 7; includes about $9M from recent acquisitions.
Gray Media issues $750M of 7.5% senior secured notes due 2034 to refinance 2029 notes
Issued $750M aggregate principal of 7.500% senior secured first lien notes due 2034, priced at par.
Gray Media launches $750M senior secured notes offering to refinance 2029 notes and revolver
Offering $750M aggregate principal of senior secured first lien notes due 2034, exempt from registration.
Gray Media Q2 revenue up 9% to $839M; political ad revenue jumps to $83M
Q2 total revenue $839M (+9% YoY); net income $14M vs $56M loss; adjusted EBITDA $214M (+27%).
Issued $70M of 7.250% Senior Secured First Lien Notes due 2033 at par plus accrued interest from Feb 15, 2026.
Gray Media Q1 revenue $768M at high end of guidance; core ad up 2% YoY; net loss widens to $20M
Core advertising revenue $352M, +2% YoY, exceeding guidance of flat; political revenue $30M (high end of $25-30M).
Gray Media closes $171M station acquisition from Allen Media Group
Total purchase price of $171M plus working capital adjustments for 13 stations across multiple markets.
Gray Media Q4 revenue $792M beats guidance; net loss $10M on political cycle comparison
Total revenue $792M exceeded high-end guidance of $782M; net loss $10M vs income $169M in Q4 2024.
Gray Media closes $250M add-on of 9.625% senior secured notes due 2032
Issued $250M additional 9.625% senior secured second-lien notes at 102% of par plus accrued interest.
Gray Media Q3 revenue $749M beats guidance; net loss $23M; announces station acquisitions
Total revenue $749M (high end of guidance); core advertising $355M (high end).
Gray Media Q2 net loss $69M; revenue down 7% to $772M; impairment of $28M from CBS affiliation loss
Total revenue $772M (-7% YoY); core advertising $361M (-3%); political $9M (-81%) due to off-year cycle.
Gray Media issues $775M 7.25% senior secured notes due 2033; refinances term loans and revolver
Issued $775M of 7.250% Senior Secured First Lien Notes due 2033 at par.
Gray Media announces $700M senior secured note offering to refinance existing term loans
$700M aggregate principal of senior secured first lien notes due 2033 offered via private placement.
Gray Media issues $900M of 9.625% second lien notes due 2032; upsizes revolver to $750M
Issued $900M of 9.625% senior secured second lien notes due July 15, 2032 at par.
Gray Media prices $900M 9.625% senior secured second lien notes due 2032, upsized by $150M
$900M aggregate principal, 9.625% coupon, due 2032; priced at 100% of par.
Gray Media updates Q2 guidance down, announces $750M notes offering and impairment
Q2 2025 preliminary guidance: revenue $769-$775M (vs $826M in Q2 2024); political revenue drops to $8-$9M from $47M.
Gray Media Q1 revenue $782M, down 5% YoY; net loss $22M vs net income $75M
Net loss attributable to common stockholders $22M ($0.23 loss per share) vs net income $75M ($0.80) in Q1 2024.
Gray Media Q4 net income $156M, political revenue $250M; debt reduced $520M in 2024
Q4 total revenue $1,045M (+21% YoY); net income $156M vs. $(22)M loss in Q4 2023.
Gray Television renews all ABC affiliate agreements through December 31, 2028 across 25 markets
Renewed multiyear agreements with The Walt Disney Company cover all 25 Gray ABC-affiliated stations.
Gray Television reduces debt $519M YTD; authorizes $250M additional repurchases
Since Jan 1, 2024, reduced total debt principal by $519M; $278M reduction since Oct 1, 2024.
Gray TV Q3 revenue $950M (+18% YoY); political ad surges 565%; targets $500M debt reduction
Q3 revenue $950M (+18% YoY); net income $83M vs -$53M loss; Adjusted EBITDA $338M (+61%).
Mr. Gignac will join the Company, initially as Executive Vice President, Finance, on April 1, 2024, and will succeed Mr. Ryan as Executive Vice President and Chief Financial Officer on July 1, 2024.
Mr. Ryan will continue to serve as Executive Vice President and Chief Financial Officer of the Company through June 30, 2024, at which time he will retire from that executive officer position.
On May 22, 2023, Gray Television, Inc. (the “Company”), announced the appointment of Sandra (“Sandy”) Breland, as the Company’s Executive Vice President and Chief Operating Officer, effective immediately.
On April 14, 2023, Gray Television, Inc. (the “Company”) reported that Robert L. (“Bob”) Smith, Executive Vice President and Chief Operating Officer of the Company, had decided to retire, and resigned on April 13, 2023.
appointed Lorri McClain to serve as a director, effective March 1, 2022
Max materiality 0.85 · Median 0.50 · Most common event debt