Gray Media Updates Second Quarter 2025 Guidance and Provides an Update on Certain Developments During the Quarter
Gray Media (NYSE: GTN) has updated its Q2 2025 guidance, projecting total revenue between $769-775 million, down from $826 million in Q2 2024. The decline is primarily driven by lower political advertising revenue, expected at $8-9 million compared to $47 million in the previous year.
Key developments include debt management actions, with Gray repurchasing $7.7 million of senior notes and making term loan amortization payments totaling $15 million. The company also expects to record a $29 million non-cash impairment charge related to its Atlanta station WANF, which will cease its CBS network affiliation on August 16, 2025.
Gray Media (NYSE: GTN) ha aggiornato le previsioni per il secondo trimestre del 2025, stimando un fatturato totale compreso tra 769 e 775 milioni di dollari, in calo rispetto agli 826 milioni di dollari del secondo trimestre 2024. Il calo 猫 principalmente dovuto a una riduzione delle entrate pubblicitarie politiche, previste tra 8 e 9 milioni di dollari rispetto ai 47 milioni dell'anno precedente.
Tra gli sviluppi principali si segnalano azioni di gestione del debito, con Gray che ha riacquistato 7,7 milioni di dollari di obbligazioni senior e ha effettuato pagamenti per l'ammortamento di prestiti a termine per un totale di 15 milioni di dollari. L'azienda prevede inoltre di registrare una perdita non monetaria di 29 milioni di dollari legata alla sua stazione di Atlanta WANF, che cesser脿 l'affiliazione alla rete CBS il 16 agosto 2025.
Gray Media (NYSE: GTN) ha actualizado su pron贸stico para el segundo trimestre de 2025, proyectando ingresos totales entre 769 y 775 millones de d贸lares, una disminuci贸n respecto a los 826 millones de d贸lares del segundo trimestre de 2024. La ca铆da se debe principalmente a menores ingresos por publicidad pol铆tica, que se esperan entre 8 y 9 millones de d贸lares frente a los 47 millones del a帽o anterior.
Entre los desarrollos clave se incluyen acciones de gesti贸n de deuda, con Gray recomprando 7,7 millones de d贸lares en bonos senior y realizando pagos de amortizaci贸n de pr茅stamos a plazo por un total de 15 millones de d贸lares. La compa帽铆a tambi茅n espera registrar un cargo por deterioro no monetario de 29 millones de d贸lares relacionado con su estaci贸n de Atlanta WANF, que cesar谩 su afiliaci贸n a la red CBS el 16 de agosto de 2025.
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Gray Media (NYSE : GTN) a mis 脿 jour ses pr茅visions pour le deuxi猫me trimestre 2025, pr茅voyant un chiffre d'affaires total compris entre 769 et 775 millions de dollars, en baisse par rapport aux 826 millions de dollars du deuxi猫me trimestre 2024. Cette baisse est principalement due 脿 une diminution des revenus publicitaires politiques, attendus entre 8 et 9 millions de dollars contre 47 millions l'ann茅e pr茅c茅dente.
Parmi les d茅veloppements cl茅s figurent des actions de gestion de la dette, Gray ayant rachet茅 pour 7,7 millions de dollars de billets senior et effectu茅 des paiements d'amortissement de pr锚ts 脿 terme totalisant 15 millions de dollars. L'entreprise pr茅voit 茅galement d'enregistrer une charge de d茅pr茅ciation non mon茅taire de 29 millions de dollars li茅e 脿 sa station de Atlanta WANF, qui cessera son affiliation au r茅seau CBS le 16 ao没t 2025.
Gray Media (NYSE: GTN) hat seine Prognose f眉r das zweite Quartal 2025 aktualisiert und erwartet einen Gesamtumsatz zwischen 769 und 775 Millionen US-Dollar, was einen R眉ckgang gegen眉ber 826 Millionen US-Dollar im zweiten Quartal 2024 darstellt. Der R眉ckgang ist haupts盲chlich auf geringere Einnahmen aus politischer Werbung zur眉ckzuf眉hren, die mit 8 bis 9 Millionen US-Dollar im Vergleich zu 47 Millionen US-Dollar im Vorjahr erwartet werden.
Wichtige Entwicklungen umfassen Ma脽nahmen im Schuldenmanagement, wobei Gray 7,7 Millionen US-Dollar an Senior Notes zur眉ckgekauft und Tilgungszahlungen f眉r Terminkredite in H枚he von insgesamt 15 Millionen US-Dollar geleistet hat. Das Unternehmen erwartet au脽erdem eine nicht zahlungswirksame Wertminderungsaufwendung von 29 Millionen US-Dollar im Zusammenhang mit seiner Station WANF in Atlanta, die am 16. August 2025 die CBS-Netzwerkzugeh枚rigkeit einstellen wird.
- None.
- Total revenue projected to decline to $769-775M from $826M in Q2 2024
- Political advertising revenue significantly down to $8-9M from $47M year-over-year
- $29M non-cash impairment charge due to WANF losing CBS network affiliation
- Production companies expenses increasing to $19-20M from $14M in Q2 2024
Insights
Gray Media's Q2 guidance shows 6-7% revenue decline with political advertising down 81%; $29M impairment charge from CBS affiliation loss.
Gray Media's updated Q2 2025 guidance points to concerning revenue trends, with total revenue projected to decline
The
On a positive note, Gray's debt management activities demonstrate financial discipline. The company repurchased
ATLANTA, July 08, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. (鈥淕ray,鈥� 鈥渨e,鈥� 鈥渦s,鈥� or 鈥渙ur鈥�) (NYSE: GTN) today announced an update to its financial guidance for the quarter ended June 30, 2025, along with certain other developments that occurred during the quarter.
Updated Guidance for the Quarter Ended June 30, 2025
We have not completed the process to finalize our financial results for the quarter ended June 30, 2025. Nevertheless, based upon our current forecasts and internal estimates for the quarter, we currently anticipate the following financial results, as outlined below in approximate ranges and as compared to the quarter ended June 30, 2024. This guidance and our internal estimates have not been subject to our normal financial closing and financial statement preparation processes, and as a result our actual results could be different and those differences could be material. In addition, the following information should not be used to draw any inferences regarding financial or operating results or data that is not described below:
| 听 | 听 | ||||||||||
| 听 | Quarter Ended | ||||||||||
| 听 | 听 | 听 | June 30, 2025 | ||||||||
| 听 | June 30, 2024 | 听 | (Guidance Updated) | ||||||||
| 听 | (Actual) | 听 | Low | 听 | High | ||||||
| 听 | (in millions) | ||||||||||
| Revenue (less agency commissions): | 听 | 听 | 听 | 听 | 听 | ||||||
| Core advertising | $ | 373 | 听 | 听 | $ | 360 | 听 | 听 | $ | 362 | 听 |
| Political | 听 | 47 | 听 | 听 | 听 | 8 | 听 | 听 | 听 | 9 | 听 |
| Retransmission consent | 听 | 371 | 听 | 听 | 听 | 368 | 听 | 听 | 听 | 369 | 听 |
| Production companies | 听 | 18 | 听 | 听 | 听 | 18 | 听 | 听 | 听 | 19 | 听 |
| Other | 听 | 17 | 听 | 听 | 听 | 15 | 听 | 听 | 听 | 16 | 听 |
| Total revenue | $ | 826 | 听 | 听 | $ | 769 | 听 | 听 | $ | 775 | 听 |
| Operating expenses (excluding depreciation, amortization and loss on disposal of assets): | 听 | 听 | |||||||||
| Broadcasting: | 听 | 听 | 听 | 听 | 听 | ||||||
| Station expenses | $ | 331 | 听 | 听 | $ | 332 | 听 | 听 | 听 | 335 | 听 |
| Network affiliation fees | 听 | 233 | 听 | 听 | 听 | 233 | 听 | 听 | 听 | 235 | 听 |
| Non-cash stock-based compensation | 听 | 1 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 鈥� | 听 |
| Total broadcasting expense | $ | 565 | 听 | 听 | $ | 565 | 听 | 听 | $ | 570 | 听 |
| Production companies | $ | 14 | 听 | 听 | $ | 19 | 听 | 听 | $ | 20 | 听 |
| Corporate and administrative: | 听 | 听 | 听 | 听 | 听 | ||||||
| Corporate expenses | $ | 23 | 听 | 听 | $ | 20 | 听 | 听 | $ | 25 | 听 |
| Non-cash stock-based compensation | 听 | 5 | 听 | 听 | 听 | 5 | 听 | 听 | 听 | 5 | 听 |
| Total corporate and administrative expense | $ | 28 | 听 | 听 | $ | 25 | 听 | 听 | $ | 30 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
This updated guidance includes the impact of recent market conditions as well as the developments described below.
Debt Repurchase and Amortization Payments
In June 2025, Gray repurchased
Non-Cash Impairment Charge Related to WANF
Gray expects to record a non-cash impairment charge of approximately
Forward-Looking Statements:
This press release contains certain forward-looking statements that are based largely on our current expectations and reflect various estimates and assumptions by us, including with respect to financial results for the quarter ended June 30, 2025. These statements are statements other than those of historical fact and may be identified by words such as 鈥渆stimates,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渨ill,鈥� 鈥渋mplied,鈥� 鈥渁ssume鈥� and similar expressions. Forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results and achievements to differ materially from those expressed in such forward-looking statements. Such risks, trends and uncertainties, which in some instances are beyond our control, include: estimates of future revenue, future expenses, future capital expenditures, future income tax payments and other future events. We are subject to additional risks and uncertainties described in our quarterly and annual reports filed with the Securities and Exchange Commission from time to time, including in the 鈥淩isk Factors,鈥� and 鈥淢anagement鈥檚 Discussion and Analysis of Financial Condition and Results of Operations鈥� sections contained therein, which reports are made publicly available via our website, www.graymedia.com. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. This press release reflects management鈥檚 views as of the date hereof. Except to the extent required by applicable law, Gray undertakes no obligation to update or revise any information contained in this press release beyond the published date, whether as a result of new information, future events or otherwise. Information about certain potential factors that could affect our business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements are included under the captions 鈥淩isk Factors鈥� and 鈥淢anagement鈥檚 Discussion and Analysis of Financial Condition and Results of Operations,鈥� in our Annual Report on Form 10-K for the year ended December 31, 2024, and may be contained in reports subsequently filed with the U.S. Securities and Exchange Commission and available at .
About Gray Media:
Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation鈥檚 largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray鈥檚 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. For more information, please visit www.graymedia.com.
Gray Contacts:
Jeffrey R. Gignac, Executive Vice President and Chief Financial Officer, 404-504-9828
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333
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FAQ
What is Gray Media's (GTN) projected revenue for Q2 2025?
How much is the impairment charge for WANF and why?
What debt management actions did Gray Media take in June 2025?
How much did GTN's political advertising revenue decline in Q2 2025?
What is Gray Media's current market presence in the US?
