Commercial Television Networks & SVOD · Publisher & Media Owner · Agency & Consultancy
Gray Media
US local broadcaster and cross-channel advertising media owner.
Available information varies by company and source.
Profile record updated:
Company facts
- Official name
- Gray Media, Inc.
- Entity type
- COMPANY
- Founded
- 1946
- Headquarters
- 4370 Peachtree Road NE, Atlanta, GA 30319
- Company size
- >5,000
- Market cluster / sector
- Commercial Television Networks & SVOD
- Market role
- Publisher & Media Owner · Agency & Consultancy
- Ticker
- GTN
- Official website
- graymedia.com
What Gray Media does
Gray Media operates a scaled media ownership and monetisation model. It creates or aggregates audience attention through local broadcast stations, streaming news products, sports programming, and digital properties, then sells access to that audience to advertisers through direct sales, sponsorship packages, and omnichannel campaign solutions. The company also creates value by combining local market relationships, owned content, and digital activation capabilities, allowing brands to buy integrated campaigns across broadcast and digital channels from a single commercial organisation.
Category differentiation
Gray Media is a US broadcast and media owner, not a standalone advertising software vendor or a creative agency. It should also not be confused with similarly named agencies or with a single product brand inside its portfolio.
Strategic context
AI-supported assessment from the existing company research; distinguish interpretation from sourced facts.
Gray Media is a US media company focused on local broadcasting, digital advertising sales, streaming news, and content production. Its portfolio includes local television stations, sports and entertainment properties, digital media brands, and advertising sales units that package inventory across linear TV, streaming, web, mobile, audio, and sponsorship environments. It serves both audiences consuming news and sports content and paying customers such as local advertisers, national brands, agencies, distributors, and content partners. The company makes money primarily by monetising owned and affiliated media inventory through advertising and sponsorship sales, while also benefiting from retransmission-related economics and content distribution or licensing tied to news and sports programming. Its digital division extends the legacy broadcast model into omnichannel media buying and targeted campaign execution, giving advertisers a combined local TV and digital offer rather than a pure-play software product.
Company news briefing
Briefing updated:
Gray Media strengthened its financial position through a $70 million senior secured notes offering used to repurchase preferred stock, subsequently revising its Q3 2026 financial guidance upward due to stronger-than-anticipated political advertising revenue. Expanding its broadcast footprint, the company partnered to simulcast free over-the-air Cleveland Cavaliers games for the 2026-27 season. Meanwhile, its St. Louis ABC affiliation acquisition remains part of an ongoing FCC probe examining operational consolidation and network affiliation shifts across local television markets.
Business model & monetisation
Gray Media primarily monetises through advertising sales across owned broadcast stations, digital properties, streaming services, and content brands. Commercial mechanisms include direct local and national ad sales, sponsorship and brand integration packages, bundled linear-plus-digital campaigns, and programmatic or targeted digital advertising via Gray Digital Media. Additional revenue comes from retransmission fees and from content syndication, production, and licensing associated particularly with sports and news programming.
- Local and national advertising across broadcast stations
- Ad-supported inventory sales
- Digital omnichannel advertising via web, mobile, audio, and streaming
- Ad-supported inventory sales and managed campaign execution
- Sports sponsorships and brand integrations
- Service fee and sponsorship packaging
- Retransmission fees from distributors
- Carriage and distribution economics
- Content production, syndication, and licensing
- Licensing and production revenue
Products & capabilities
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Competitors & alternatives
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Diversified media owner across TV, streaming, publishing and film.
US broadcaster and media owner monetising audiences through ads and carriage.
US local broadcaster and media owner monetising audiences and distribution.
US media owner selling local, national and streaming advertising.
Diversified media group spanning TV, streaming, studios and advertising.
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Recent recorded signals
Dates refer to the source publication. Older entries are historical context, not evidence of a new event.
Atlanta Hawks to Stream Local Games Exclusively on Prime Video
Distribution · Recorded impact score: 3/5
The Atlanta Hawks announced a historic deal making Prime Video the exclusive streaming home for their locally distributed NBA games starting the 2026-27 season. The agreement covers 74 regular-season games, available at no extra cost to Amazon Prime members within the team's regional territory spanning parts of Georgia, Alabama, Tennessee, South Carolina, and Mississippi. This marks the first time an NBA team has chosen Prime Video for exclusive local game streaming. The Hawks will also continue their existing free over-the-air broadcast partnership with Gray Media on WANF and Peachtree Sports Network. This move reflects the growing trend of teams bypassing traditional regional sports networks, especially after the parent company of the former RSN, Main Street Sports Group, ceased operations. Prime Video is also expanding its national NBA coverage, while the NBA reportedly plans a local streaming hub for the 2027-28 season.
- Atlanta Hawks becomes first NBA team to stream local games exclusively on Prime Video for the 2026-27 season.
- The deal covers 74 regular-season games, available to Amazon Prime members in the team's regional territory at no extra cost.
8-K Financial Filing Analysis for Gray Media (2026-10-09)
financials · Recorded impact score: 3.8/5
On October 8, 2026, Gray Media, Inc. executed the Seventh Amendment to its Fifth Amended and Restated Credit Agreement with Wells Fargo Bank as administrative agent. The refinancing transaction establishes a new $600 million Term Loan G maturing on July 15, 2030, and adjusts the revolving credit facility by extending its maturity to July 15, 2030, while downsizing aggregate commitments from $750 million to $680 million. Proceeds from the Term Loan G were utilized to pay transaction fees and pay down the existing Term D Loan, reducing its outstanding balance to $150 million. The Term Loan G carries an interest rate of Term SOFR plus 3.50% (or Base Rate plus 2.50%) with 0.25% quarterly principal amortization, and includes springing maturity provisions tied to the remaining balances of the Term D Loan and 2029 First Lien Notes.
- Issued a new $600 million Term Loan G maturing on July 15, 2030, priced at Term SOFR plus 3.50% (or Base Rate plus 2.50%) with 0.25% quarterly amortization.
- Used Term Loan G proceeds to pay down the existing Term D Loan maturing December 1, 2028, reducing the outstanding principal to $150 million.
8-K Financial Filing Analysis for Gray Media (2026-09-28)
financials · Recorded impact score: 3.8/5
On September 28, 2026, Gray Media, Inc. furnished a Form 8-K under Item 2.02 reporting an upward revision to its financial guidance for the third quarter ending September 30, 2026. The update highlights an increase in expected political advertising revenue and raises the lower bound of its total net revenue guidance range for the quarter. The adjustment reflects stronger-than-anticipated political advertising spending across its broadcast footprint as the election cycle progresses, reinforcing short-term top-line momentum and cash flow generation.
- Gray Media raised its Q3 2026 political advertising guidance on September 28, 2026.
- The company lifted the low end of its total revenue guidance range for the third quarter ending September 30, 2026.
Cavaliers to Air 15 Free Games on Local TV
CTV & Streaming · Recorded impact score: 3/5
The Cleveland Cavaliers announced that 15 regular-season games for the 2026-27 season will be available free over-the-air, simulcast on Gray Media stations and streamed on DAZN. This move extends the NBA's broader trend of moving local games to broadcast television following the decline of regional sports networks. Fans in the Cleveland market can watch on WOIO, WUAB, and Rock Entertainment Sports Network, with other markets also carrying the games. The free games will have pregame and postgame coverage. The team's full local streaming package is available via DAZN subscriptions, with plans ranging from $19.99 monthly to $139.99 for a season pass. The Cavaliers join other teams like the Hornets, Magic, and Suns in offering free over-the-air viewing options.
- Cleveland Cavaliers will air 15 regular-season games free over-the-air on Gray Media stations.
- Games will also be streamed free on the DAZN app, requiring a free DAZN account.
8-K Financial Filing Analysis for Gray Media (2026-08-21)
financials · Recorded impact score: 3.9/5
On August 21, 2026, Gray Media, Inc. closed an offering of $750 million aggregate principal amount of 7.500% senior secured first lien notes due September 15, 2034. The notes were issued at par pursuant to an indenture with U.S. Bank Trust Company, National Association acting as trustee and collateral agent. The transaction successfully extends the company's debt maturity profile and lowers interest expense on existing obligations. Gray Media is using the net proceeds from the offering to redeem $675 million outstanding principal amount of its high-coupon 10.500% senior secured first lien notes due 2029, repay $21 million of borrowings under its revolving credit facility, and cover transaction fees, expenses, call premiums, and accrued interest.
- Issued $750,000,000 aggregate principal amount of 7.500% senior secured first lien notes due September 15, 2034 at par.
- Proceeds will redeem $675,000,000 of 10.500% senior secured first lien notes due 2029, reducing annual coupon costs by 300 bps on that principal.
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Questions about Gray Media
What is Gray Media?
Gray Media is a US media company that owns and monetises local broadcast, digital, streaming, news, and sports media assets.
Who uses Gray Media?
Its direct paying customers are advertisers, brands, agencies, sponsors, distributors, and media partners, while viewers consume its news and entertainment content.
How does Gray Media make money?
It makes money mainly from advertising and sponsorship sales, supplemented by retransmission fees and content licensing or production revenue.
Sources & coverage
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