Company research
GRAY MEDIA, INC
CIK 43196Updated Sep 24, 2026
SecuritiesGTN · NYSE · equityGTN A · NYSE · equity
Name history
GRAY MEDIA, INC · through Aug 21, 2026GRAY TELEVISION INC · through Feb 24, 2025GRAY COMMUNICATIONS SYSTEMS INC /GA/ · through Jul 25, 2002
GTN price & chart
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NYSE:GTN on TradingView ↗In the news
Gray Announces Closing of Offering of $750 Million of 7.500% Senior Secured First Lien Notes due 2034 ↗
Recent filings
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Other Events
Items 1.01, 2.03, 8.01, 9.01
Other Events
Items 8.01, 9.01
Other Events
Items 8.01, 9.01
SCHEDULE 13G/A filing
10-Q filing
Show 5 more recent filings
Regulation FD Disclosure
Items 7.01, 9.01
Other Events
Items 8.01, 9.01
Results of Operations and Financial Condition
Items 2.02, 9.01
Other Events
Items 8.01
Financial Statements and Exhibits
Items 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 10,440,000,000Source | 10,542,000,000Source | 10,640,000,000Source | 11,152,000,000Source |
| Property, Plant and Equipment, NetUSD | 1,509,000,000Source | 1,577,000,000Source | 1,601,000,000Source | 1,466,000,000Source |
| GoodwillUSD | 2,642,000,000Source | 2,642,000,000Source | 2,643,000,000Source | 2,663,000,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 368,000,000Source | 135,000,000Source | 21,000,000Source | 61,000,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 205,000,000Source | 337,000,000Source | 342,000,000Source | 650,000,000Source |
| Assets, CurrentUSD | 656,000,000Source | 541,000,000Source | 468,000,000Source | 857,000,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 25,000,000Source | 21,000,000Source | 48,000,000Source | 54,000,000Source |
| Operating Lease, Right-of-Use AssetUSD | 66,000,000Source | 69,000,000Source | 75,000,000Source | 75,000,000Source |
| Other Assets, NoncurrentUSD | 43,000,000Source | 27,000,000Source | 16,000,000Source | 14,000,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 7,635,000,000Source | 7,609,000,000Source | 8,019,000,000Source | 8,386,000,000Source |
| Stockholders’ equity: | ||||
| Retained Earnings (Accumulated Deficit)USD | 1,205,000,000Source | 1,375,000,000Source | 1,084,000,000Source | 1,242,000,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -4,000,000Source | -30,000,000Source | -23,000,000Source | -12,000,000Source |
| Stockholders' Equity Attributable to ParentUSD | 2,155,000,000Source | 2,283,000,000Source | 1,971,000,000Source | 2,116,000,000Source |
| Liabilities and EquityUSD | 10,440,000,000Source | 10,542,000,000Source | 10,640,000,000Source | 11,152,000,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 516,000,000Source | 527,000,000Source | 395,000,000Source | 409,000,000Source |
| Operating Lease, Liability, CurrentUSD | 10,000,000Source | 10,000,000Source | 11,000,000Source | 10,000,000Source |
| Accounts Payable, CurrentUSD | 144,000,000Source | 75,000,000Source | 23,000,000Source | 55,000,000Source |
| Operating Lease, Liability, NoncurrentUSD | 59,000,000Source | 62,000,000Source | 69,000,000Source | 68,000,000Source |
| Deferred Income Tax Liabilities, NetUSD | — | 1,347,000,000Source | 1,359,000,000Source | 1,454,000,000Source |
| Other Liabilities, NoncurrentUSD | 18,000,000Source | 71,000,000Source | 50,000,000Source | 14,000,000Source |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 47,000,000Source | 53,000,000Source | 41,000,000Source | 50,000,000Source |
| Deferred Tax Liabilities, NetUSD | 1,300,000,000Source | 1,347,000,000Source | 1,359,000,000Source | 1,454,000,000Source |
| Dividends Payable, CurrentUSD | 16,000,000Source | 15,000,000Source | 14,000,000Source | 14,000,000Source |
| Long-term Debt, Excluding Current Maturities | — | — | — | — |
| Long-term Debt, Current MaturitiesUSD | 2,000,000Source | 20,000,000Source | 15,000,000Source | 15,000,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 5,742,000,000Source | 5,601,000,000Source | 6,145,000,000Source | 6,440,000,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation and amortization | — | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 22,000,000Source | 22,000,000Source | 20,000,000Source | 22,000,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -132,000,000Source | -5,000,000Source | -308,000,000Source | 26,000,000Source |
| Increase (Decrease) in Accounts PayableUSD | -10,000,000Source | 52,000,000Source | -32,000,000Source | -5,000,000Source |
| Deferred Income Tax Expense (Benefit)USD | -56,000,000Source | -9,000,000Source | -91,000,000Source | -20,000,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 289,000,000Source | 751,000,000Source | 648,000,000Source | 829,000,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 1,000,000Source | 6,000,000Source | 58,000,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -63,000,000Source | -28,000,000Source | -291,000,000Source | -503,000,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 18,000,000Source | 1,000,000Source | 1,000,000Source | 4,000,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 108,000,000Source | 143,000,000Source | 348,000,000Source | 436,000,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 5,000,000Source | 4,000,000Source | 5,000,000Source | 7,000,000Source |
| Payments for Repurchase of Common StockUSD | — | 0Source | 0Source | 50,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 7,000,000Source | -609,000,000Source | -397,000,000Source | -454,000,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 33,000,000Source | 32,000,000Source | 30,000,000Source | 30,000,000Source |
| Repayments of Long-term DebtUSD | 1,987,000,000Source | 2,544,000,000Source | 610,000,000Source | 315,000,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 233,000,000Source | 114,000,000Source | -40,000,000Source | -128,000,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 393,000,000Source | 394,000,000Source | 419,000,000Source | 339,000,000Source |
| Income Taxes Paid, NetUSD | 38,000,000Source | 135,000,000Source | 50,000,000Source | 180,000,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 22,000,000Source | 22,000,000Source | 20,000,000Source | 22,000,000Source |
| Amortization of Debt Issuance CostsUSD | 16,000,000Source | 15,000,000Source | 13,000,000Source | 16,000,000Source |
| Amortization of Intangible AssetsUSD | 104,000,000Source | 125,000,000Source | 194,000,000Source | 207,000,000Source |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to SettlementUSD | 4,000,000Source | — | — | — |
| DepreciationUSD | 133,000,000Source | 144,000,000Source | 145,000,000Source | 129,000,000Source |
| Dividends Payable, CurrentUSD | 16,000,000Source | 15,000,000Source | 14,000,000Source | 14,000,000Source |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual AmountUSD | 20,000,000Source | 25,000,000Source | 29,000,000Source | 18,000,000Source |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber PropertyUSD | 11,000,000Source | 20,000,000Source | 21,000,000Source | 2,000,000Source |
| Gain (Loss) on Disposition of AssetsUSD | 11,000,000Source | -20,000,000Source | -21,000,000Source | 2,000,000Source |
| Gain (Loss) on Sale of InvestmentsUSD | 5,000,000Source | 110,000,000Source | — | — |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | 6,000,000Source | -20,000,000Source | -21,000,000Source | 2,000,000Source |
| Gain (Loss) on Extinguishment of DebtUSD | -10,000,000Source | 34,000,000Source | -3,000,000Source | 0Source |
| GoodwillUSD | 2,642,000,000Source | 2,642,000,000Source | 2,643,000,000Source | 2,663,000,000Source |
| Goodwill and Intangible Asset ImpairmentUSD | 30,000,000Source | 0Source | 43,000,000Source | — |
| Goodwill, Impairment LossUSD | 0Source | — | — | — |
| Impairment of Intangible Assets, Finite-livedUSD | 28,000,000Source | — | — | — |
| Income Tax Expense (Benefit)USD | -28,000,000Source | 117,000,000Source | -6,000,000Source | 159,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | -85,000,000Source | 375,000,000Source | -76,000,000Source | 455,000,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -137,000,000Source | 323,000,000Source | -128,000,000Source | 403,000,000Source |
| Operating ExpensesUSD | 2,703,000,000Source | 2,793,000,000Source | 2,898,000,000Source | 2,686,000,000Source |
| Operating Lease, Lease IncomeUSD | 37,000,000Source | 37,000,000Source | — | — |
| Other Nonoperating Income (Expense)USD | -1,000,000Source | 117,000,000Source | 7,000,000Source | -4,000,000Source |
| Payments to Acquire InvestmentsUSD | 8,000,000Source | 7,000,000Source | 14,000,000Source | 16,000,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 2,110,000,000Source | 2,070,000,000Source | 300,000,000Source | 0Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 3,095,000,000Source | 3,644,000,000Source | 3,281,000,000Source | 3,676,000,000Source |
| Operating Income (Loss)USD | 392,000,000Source | 851,000,000Source | 383,000,000Source | 990,000,000Source |
| Other Nonoperating Income (Expense)USD | -1,000,000Source | 117,000,000Source | 7,000,000Source | -4,000,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -113,000,000Source | 492,000,000Source | -82,000,000Source | 614,000,000Source |
| Income Tax Expense (Benefit)USD | -28,000,000Source | 117,000,000Source | -6,000,000Source | 159,000,000Source |
| Net Income (Loss) Attributable to ParentUSD | -85,000,000Source | 375,000,000Source | -76,000,000Source | 455,000,000Source |
| Earnings Per Share, BasicUSD per share | -1.41Source | 3.4Source | -1.39Source | 4.38Source |
| Earnings Per Share, DilutedUSD per share | -1.41Source | 3.36Source | -1.39Source | 4.33Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 97,000,000Source | 95,000,000Source | 92,000,000Source | 92,000,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 97,000,000Source | 96,000,000Source | 92,000,000Source | 93,000,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 104,000,000Source | 125,000,000Source | 194,000,000Source | 207,000,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 0.32Source | 0.32Source | 0.32Source | 0.32Source |
| Current Income Tax Expense (Benefit)USD | 28,000,000Source | 126,000,000Source | 85,000,000Source | 179,000,000Source |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to SettlementUSD | 4,000,000Source | — | — | — |
| Depreciation, Depletion and Amortization, NonproductionUSD | 237,000,000Source | 269,000,000Source | 339,000,000Source | 336,000,000Source |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual AmountUSD | 20,000,000Source | 25,000,000Source | 29,000,000Source | 18,000,000Source |
| Goodwill, Impairment LossUSD | 0Source | — | — | — |
| Interest Expense, DebtUSD | 474,000,000Source | 485,000,000Source | 440,000,000Source | 354,000,000Source |
| Labor and Related ExpenseUSD | 946,000,000Source | 971,000,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -137,000,000Source | 323,000,000Source | -128,000,000Source | 403,000,000Source |
| Operating ExpensesUSD | 2,703,000,000Source | 2,793,000,000Source | 2,898,000,000Source | 2,686,000,000Source |
| Operating Lease, Lease IncomeUSD | 37,000,000Source | 37,000,000Source | — | — |