Recent 8-K filings for GTN

• May 7, 2026, 7:59 PM ET earnings materiality 0.80 neutral item 2.02item 9.01 ◈ Earnings Releases

  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).

• May 7, 2026, 7:59 PM ET M&A materiality 0.60 neutral item 2.01item 7.01item 9.01 ◈ M&A Transactions ×2

  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.

• February 26, 2026, 6:59 PM ET earnings materiality 0.75 neutral item 2.02item 9.01

  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.

• December 12, 2025, 6:59 PM ET debt materiality 0.65 neutral item 1.01item 2.03item 8.01item 9.01 ◈ Debt Financings

  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.

• November 7, 2025, 6:59 PM ET earnings materiality 0.75 neutral item 2.02item 9.01

  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).

• August 8, 2025, 7:59 PM ET earnings materiality 0.85 negative item 2.02item 9.01

  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.

• July 25, 2025, 7:59 PM ET debt materiality 0.65 neutral item 1.01item 2.03item 8.01item 9.01 ◈ Debt Financings

  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.

• July 22, 2025, 7:59 PM ET debt materiality 0.60 neutral item 8.01item 9.01

  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.

• July 18, 2025, 7:59 PM ET debt materiality 0.75 neutral item 1.01item 2.03item 8.01item 9.01 ◈ Debt Financings ×2

  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.

• July 9, 2025, 7:59 PM ET debt materiality 0.70 neutral item 8.01item 9.01

  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.

• July 8, 2025, 7:59 PM ET earnings materiality 0.75 negative item 2.02item 8.01item 9.01

  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.

• May 8, 2025, 7:59 PM ET earnings materiality 0.65 negative item 2.02item 9.01

  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.

• February 27, 2025, 6:59 PM ET earnings materiality 0.80 positive item 2.02item 9.01

  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.

• December 30, 2024, 6:59 PM ET other material materiality 0.60 positive item 8.01item 9.01

  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.

• November 20, 2024, 6:59 PM ET debt materiality 0.60 positive item 8.01item 9.01

  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.

• November 8, 2024, 6:59 PM ET earnings materiality 0.85 positive item 2.02item 9.01

  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%).

• August 8, 2024, 7:59 PM ET earnings materiality 0.75 negative item 2.02item 9.01

  Gray TV Q2 net income $22M; cuts 2024 core ad rev guidance to $1.525B, retrans to $1.475B

  Total Q2 revenue $826M (+2% YoY); net income $22M vs $4M in Q2 2023.

• June 4, 2024, 7:59 PM ET debt materiality 0.75 positive item 1.01item 2.03item 8.01item 9.01

  Gray Television issues $1.25B 10.5% notes due 2029, refinances $1.15B term loan, upsizes revolver to $680M

  Issued $1.25B of 10.5% senior secured first lien notes due July 2029 at par; proceeds repay $1.2B tranche E term loan due 2026 and help repurchase 5.875% notes due 2026.

• May 23, 2024, 7:59 PM ET debt materiality 0.65 neutral item 8.01item 9.01

  Gray Television prices $1.25B 10.500% senior secured notes due 2029, upsized by $250M

  Offering upsized to $1.25B from $1.0B, priced at par with 10.500% coupon due 2029.

• May 20, 2024, 7:59 PM ET debt materiality 0.65 neutral item 8.01item 9.01

  Gray Television announces $1B senior secured notes offering to refinance debt

  Offering $1B senior secured notes due 2029; also $750M new term loan F due 2029.

• May 20, 2024, 7:59 PM ET debt materiality 0.60 neutral item 8.01item 9.01

  Gray Television launches cash tender offer for its $700M 5.875% Senior Notes due 2026

  Tender offer for any and all of the $700M principal 5.875% Senior Notes due 2026.

• May 15, 2024, 7:59 PM ET debt materiality 0.65 neutral item 7.01item 9.01

  Gray TV proposes $1.6B refinancing of 2026 debt; upsizes revolver to $680M

  Targeting $750M new term loans due 2029 and $750M additional senior secured debt.

Earnings & guidance

Materiality & sentiment trend

Max materiality 0.85 · Median 0.50 · Most common event debt

5 positive 4 negative 41 neutral

source · GTN on sec.gov