Gray Television Inc Stock Price, News & Analysis

Gray Media (NYSE: GTN) has announced the renewal of its Fox Television Network affiliation agreements across 27 markets, including major cities like Portland, Cincinnati, Las Vegas, and Birmingham.

Gray Media is currently the nation's largest owner of top-rated local television stations, reaching approximately 37% of US television households through 113 television markets. The company maintains leadership positions with the #1 rated station in 78 markets and the #1 or #2 rated station in 99 markets as of 2024. Additionally, Gray operates the largest Telemundo Affiliate group spanning 44 markets.

Gray Media (NYSE:GTN) has announced the promotion of Bob Kroeger to Chief Technology Officer (CTO), effective immediately. Kroeger, who previously served as Chief Information Officer for both Gray and Raycom Media, succeeds David Burke, who retired on July 31, 2025.

With over 32 years of leadership experience in television broadcast engineering and IT, Kroeger brings extensive expertise in IT strategy, enterprise security, broadcast system management, and emerging technologies. His career includes executive roles at major broadcast groups and leadership positions at various television stations.

Gray Media is the nation's largest owner of top-rated local television stations, serving 113 television markets reaching approximately 37% of US television households.

Gray Media (NYSE:GTN) has announced a significant acquisition agreement with Byron Allen's Allen Media Group (AMG) to purchase television stations in ten markets for $171 million. The transaction will expand Gray's presence into three new markets - Columbus-Tupelo (MS), Terre Haute (IN), and West Lafayette (IN) - acquiring the highest-rated stations in these locations.

The deal will create new duopolies in seven existing markets, enabling Gray to enhance local news, weather, and sports programming. The acquisition includes ABC, CBS, FOX, and NBC affiliated stations across various markets. Gray expects to close the transaction in Q4 2025, subject to regulatory approvals including FCC local ownership rule waivers.

Gray Media (NYSE: GTN) announced that its Board of Directors has declared a quarterly cash dividend of $0.08 per share for both its common stock and Class A common stock. The dividend will be paid on September 30, 2025, to shareholders of record as of September 15, 2025.

Gray Media (NYSE:GTN) reported Q2 2025 financial results showing total revenue of $772 million, down 7% year-over-year. Core advertising revenue decreased 3% to $361 million, while retransmission consent revenue declined 1% to $369 million. The company reported a net loss of $69 million compared to net income of $9 million in Q2 2024.

The company completed significant debt refinancing, including a $900 million offering of 9.625% senior secured notes and a $775 million offering of 7.25% senior secured notes. Gray also announced strategic acquisitions and divestitures with Scripps, Sagamore Hill Broadcasting, and Block Communications, expected to close in Q4 2025.

For Q3 2025, Gray expects core advertising revenue to decline compared to Q3 2024, which included $20 million in Olympic Games advertising revenue.

Gray Media (NYSE:GTN) and Graham Media Group have successfully raised over $1.1 million through their joint fundraiser 'Together for Texas' to support communities affected by the July 4th flooding in Central Texas and the Hill Country. The campaign, launched across Gray's 113 markets and Graham's KSAT and KPRC stations, partnered with The Salvation Army to provide essential aid to affected residents.

The funds will support various recovery needs, including food, water, relief supplies, clean-up materials, furniture, and assistance for small businesses. The Salvation Army plans to maintain support through disaster recovery centers over the next 12 to 24 months. Donations continue to be accepted at togetherfortx.com.

Gray Media (NYSE: GTN) has announced an agreement to acquire Block Communications' television stations for $80 million. The acquisition includes FOX affiliate WDRB and CW affiliate WBKI in Louisville, Kentucky (DMA 49), NBC affiliate WAND in Springfield-Champaign-Decatur, Illinois (DMA 92), and NBC affiliate WLIO in Lima, Ohio (DMA 190).

The transaction will create a new Big Four duopoly in Louisville, where Gray already owns NBC affiliate WAVE3. Both WAND and WLIO achieved the highest all-day ratings in their respective markets during 2024. Gray expects to close the transaction in Q4 2025, subject to regulatory approvals including FCC ownership rule waivers.

Gray Media (NYSE:GTN) has announced an agreement to acquire two television stations from SagamoreHill Broadcasting: WLTZ (NBC affiliate in Columbus, Georgia - DMA 127) and KJTV (FOX affiliate in Lubbock, Texas - DMA 140).

Gray already provides back-office services to both stations through its existing ABC and NBC affiliates in these markets. The company expects to close these transactions in Q4 2025, subject to regulatory approval. Gray will seek FCC waivers under the "failing station" standard, similar to its recent KXLT acquisition in Rochester, Minnesota.

Gray Media is currently the largest owner of top-rated local television stations in the US, reaching approximately 37% of US television households across 113 markets.

Gray Media (NYSE:GTN) has appointed Eric Walters as the new General Manager of KNOE and KAQY-LD, its CBS and ABC affiliates in Monroe, Louisiana, effective September 1, 2025.

Walters brings significant experience from his current role as GM of KMVT and KSVT-LD in Twin Falls, Idaho, where he improved ratings and digital content. Previously, as News Director at WDBJ, he led the station to win consecutive Edward R Murrow awards and launched innovative programming including a Spanish language digital newscast.

Gray Media operates as the largest owner of top-rated local television stations in the US, reaching approximately 37% of US television households across 113 markets.