Q3 2025 Gray Media Inc Earnings Call Transcript

Nov 7, 2025 / 04:00 PM GMT

Release Date Price: €3.14

Transcript 10-Q8-K

Key Points

Positve

Gray Media Inc (GTN) reported total revenue of $749 million for Q3 2025, which was at the high end of their guidance.
Operating expenses were $17 million below the low end of guidance, showcasing effective cost management.
The company saw a significant acceleration in mergers and acquisitions, planning to enter six new markets and create 11 new Big 4 full duopolies.
Gray Media Inc (GTN) made progress in strengthening its balance sheet, extending debt maturity to 2033 with minimal impact on cost.
The company renewed key partnerships and expanded its sports portfolio, enhancing local content offerings.

Negative

Gray Media Inc (GTN) reported a net loss of $23 million attributable to common stockholders in Q3 2025.
Core advertising revenue was down 3% in the third quarter, reflecting ongoing challenges in the advertising market.
The company faces uncertainty in political ad revenue, with lower-than-expected fundraising impacting spending.
There is frustration over the YouTube TV carriage dispute, which affects their ABC stations without their control.
The Assembly Atlanta project has yet to deliver a significant return on investment, with ongoing negotiations for further development.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GTN.N - Gray Media Inc
Q3 2025 Gray Media Inc Earnings Call
Nov 07, 2025 / 04:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day everyone, and thank you for joining this gray Media Q3 2025 earnings call. As a reminder, all phone participants have been placed in a muted or listen-only mode to prevent background noise, and today's question-and-answer session will take place after our prepared remarks, and we ask today that you limit yourself to a single question and any follow-ups, follow-ups you engage with management following today's call.

As a reminder, today's session is also being recorded. It's now my pleasure to turn the floor over to our host, CEO and President, Mr. Hilton Howell Jr. Please go ahead, sir.

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Unidentified_2 [2]
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