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Gray Media/$GTN.A

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About Gray Media

Gray Media Inc is a multimedia company. The company owns and operates local television stations and digital assets. It also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with digital products and services. Its additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. The company's segments include Broadcasting and Production Companies. The majority of revenue is derived from broadcast and digital advertising and from retransmission consent fees.
Ticker
$GTN.A
Sector
Communication
Primary listing
NYSE
Employees
9,374
Headquarters
Atlanta, United States
Website
graymedia.com

Gray Media Metrics

BasicAdvanced
$466M
-
-$0.59
0.99
$0.32
4.15%

What the Analysts think about Gray Media

Majority rating from 7 analysts.
Buy
Analyst ratings by month
MonthBuyHoldSellAnalystsMajority rating
July 20235128Buy
August 20235128Buy
September 20235128Buy
October 20235128Buy
November 20235128Buy
December 20235128Buy
January 20245128Buy
February 20244127Buy
March 20244127Buy
April 20244127Buy
May 20244127Buy
June 20244127Buy

Bulls say / Bears say

Gray lifted third-quarter political-ad guidance to $188 million–$195 million after demand exceeded its earlier forecast. Its stations cover all 12 competitive Senate races, giving it strong exposure to the 2026 midterm advertising surge. (Gray Media, The Motley Fool)
Gray refinanced more than $1.25 billion of debt, lowered its overall borrowing costs and pushed significant maturities further out. The company says it has no material debt maturities until after the 2026 and 2028 political cycles, easing near-term refinancing pressure. (Nasdaq)
Production-company revenue rose 44% to $26 million in the second quarter, helped by stronger sports production contracts. Growth in this business offers a modest source of revenue beyond the core station operations. (SEC)
Core advertising fell 1% in the second quarter even with $15 million of contribution from acquired stations, implying a mid-single-digit decline on an acquisition-adjusted basis. Gray cited macroeconomic softness, which leaves its underlying ad business looking weak. (SEC)
Retransmission revenue fell $50 million, or 7%, in the first half as pay-TV subscriptions declined; a station’s move to independent status and a temporary distributor dispute also weighed on results. Continued subscriber losses threaten this important recurring revenue stream. (SEC)
Debt servicing remains a substantial cash burden: Gray estimated about $465 million of interest payments over the 12 months following June 2026. That limits the cash available for investment and makes the company more exposed if operating results disappoint. (SEC)
Data summarised monthly by Lightyear AI. Last updated on 22 Oct 2026.

Gray Media Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin
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