Gray Media/$GTN

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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
Sector
Communication
Primary listing
NYSE
Employees
9,374
Headquarters
Atlanta, United States
Website
graymedia.com

Gray Media Metrics

BasicAdvanced
$453M
-
-$0.59
0.99
$0.32
6.97%

What the Analysts think about Gray Media

Analyst ratings (Buy, Hold, Sell) for Gray Media stock.
Analyst projections of the future price of Gray Media stock.

Bulls say / Bears say

Political advertising is running ahead of the last two midterm cycles. Q2 revenue reached $83 million, and Gray guides for $165 million–$185 million in Q3, helped by stations in markets covering all 12 competitive Senate races and all 11 competitive gubernatorial races. (Gray Media, StockAnalysis)
The core retransmission stream is showing signs of stabilising. Net retransmission revenue rose 10% to $150 million in Q2 despite a distributor blackout, while digital revenue grew 12% and acquired stations should add further revenue once integrated. (Gray Media, StockAnalysis)
Gray has improved its near-term debt economics. It completed a $750 million refinancing at 7.5%, using most of the proceeds to redeem $675 million of 10.5% notes due 2029, repay $21 million of revolver borrowings and extend the replacement debt to 2034. (Gray Media, Gray Media)
Underlying advertising demand remains fragile outside elections. Core advertising fell 1% in Q2, with restaurants, supermarkets and services weak, while Q3 guidance is only flat on an as-reported basis despite the contribution from new stations. (Gray Media, StockAnalysis)
The balance sheet still leaves little room for error. Gray had $5.87 billion of debt principal, only $176 million of cash and a 5.73 times net leverage ratio at the end of Q2; first-half interest expense and preferred dividends also left common shareholders with a net loss. (Gray Media, Gray Media)
Cord-cutting continues to pressure the traditional retransmission model. Gross retransmission revenue fell 3% in Q2 because of subscriber declines, a station becoming independent and a resolved distribution dispute, while acquisitions and transaction costs add execution risk. (Gray Media, TradingKey)
Data summarised monthly by Lightyear AI. Last updated on 26 Sept 2026.

Gray Media Financial Performance

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

Gray Media Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

Gray Media News

AllArticlesVideos

Gray Media Q2 Earnings Call Highlights

MarketBeat2 months ago

Funds containing Gray Media

AllEURGBP
Funds
Fund name
Fund size
$GTN weighting
SPDR Russell 2000 US Small Cap€R2US
€4.8B0.01%
SPDR Russell 2000 US Small Cap£R2SC
£4.1B0.01%
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