- Gray Media (GTN, Financial) projects a revenue decline in Q2 2025, expecting $769-775 million compared to $826 million in Q2 2024.
- Political advertising revenue is anticipated to drop significantly to $8-9 million from $47 million in the previous year.
- A $29 million non-cash impairment charge is expected due to WANF ceasing its CBS network affiliation in August 2025.
Gray Media Inc. (GTN) has announced an update to its second quarter 2025 financial guidance, forecasting total revenue between $769 million and $775 million. This is a decline from the $826 million reported in the second quarter of 2024. The reduction is largely attributed to a steep 81% drop in political advertising revenue, projected at $8-9 million versus $47 million in the prior year.
The company disclosed it will record a $29 million non-cash impairment charge related to WANF, its Atlanta station, which will cease its affiliation with CBS network on August 16, 2025. This change anticipates challenges as WANF transitions to an independent station, likely affecting future advertising revenue and viewership.
In efforts to manage debt, Gray Media repurchased $7.7 million of its 5.875% senior notes due 2026 and made $15 million in amortization payments on its term loans. These financial maneuvers aim to enhance the company's balance sheet and provide greater financial flexibility amidst the current revenue challenges.
