Core Viewpoint - Analyst recommendations, particularly for Gray Media (GTN), are often influential in stock price movements, but their reliability is questionable [1][5][10] Brokerage Recommendations - Gray Media has an average brokerage recommendation (ABR) of 1.80, indicating a position between Strong Buy and Buy, with 60% of the five recommendations being Strong Buy [2][5] - Despite the positive ABR, relying solely on this information for investment decisions may not be prudent, as studies show limited success of brokerage recommendations in identifying stocks with high price increase potential [5][10] Analyst Bias and Limitations - Brokerage analysts tend to exhibit a strong positive bias in their ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [6][10] - The interests of brokerage firms may not align with those of retail investors, leading to misleading insights regarding future stock price movements [7][10] Zacks Rank vs. ABR - The Zacks Rank, which is based on earnings estimate revisions, is a more reliable indicator of near-term stock performance compared to ABR, which is solely based on brokerage recommendations [8][9][11] - Zacks Rank is timely and reflects current business trends, while ABR may not be up-to-date [12] Earnings Estimates for Gray Media - The Zacks Consensus Estimate for Gray Media has declined by 2.8% over the past month to -$0.74, indicating growing pessimism among analysts regarding the company's earnings prospects [13] - This decline in earnings estimates has resulted in a Zacks Rank of 4 (Sell) for Gray Media, suggesting caution despite the Buy-equivalent ABR [14]

Financial Performance - Gray Media's 2Q25 total revenue exceeded guidance, reaching $772 million [9] - Core advertising revenue for 2Q25 was $361 million, a 3% decline [9] - Retransmission revenue for 2Q25 was $369 million, aligning with guidance [9] - Adjusted EBITDA for the six months ending June 30, 2025, was $329 million [11] - The company reduced debt principal by $22 million in 2Q25 [12] Debt and Leverage - As of 2Q25, Gray Media's leverage ratio was 560x [12] - First lien leverage ratio at 2Q25 was 299x [12] - Total outstanding principal secured by a first lien as of June 30, 2025, was $3112 billion [15] - Adjusted Total Indebtedness was $5460 billion as of June 30, 2025 [15] Strategic Initiatives - Gray Media is focused on a multi-pronged deleveraging approach, including refinancing and debt reduction [21] - The company issued 9625% 2L Secured Notes to extend portfolio duration and reduce 1L leverage [23]

Core Insights - Gray Media reported a quarterly loss of $0.42 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.23, marking an earnings surprise of -82.61% [1] - The company's revenues for the quarter ended June 2025 were $772 million, aligning with the Zacks Consensus Estimate but down from $826 million a year ago [2] - The stock has increased by approximately 31.4% since the beginning of the year, outperforming the S&P 500's gain of 7.8% [3] Financial Performance - Over the last four quarters, Gray Media has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.32 on revenues of $755 million, and for the current fiscal year, it is -$0.74 on revenues of $3.13 billion [7] Market Outlook - The estimate revisions trend for Gray Media was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The Broadcast Radio and Television industry, to which Gray Media belongs, is currently ranked in the bottom 38% of over 250 Zacks industries, suggesting potential challenges ahead [8]

Core Viewpoint - Gray Media, Inc. has agreed to acquire Allen Media Group's television stations in ten markets for $171 million, which is expected to enhance Gray's market presence and create new duopolies in several regions [1][2]. Group 1: Transaction Details - The acquisition includes local television stations in three new markets: Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana, all of which had the highest all-day ratings in 2024 according to Comscore [2]. - The transaction is anticipated to close in the fourth quarter of 2025, pending regulatory approval and waivers of FCC local ownership rules [4]. Group 2: Market Impact - The acquisition will strengthen Gray's presence in seven other markets by creating new duopolies, allowing for enhanced local news, weather, and sports programming [2]. - Gray Media currently operates in 113 television markets, reaching approximately 37% of U.S. television households, with a significant number of top-rated stations [7]. Group 3: Company Background - Gray Media is the largest owner of top-rated local television stations and digital assets in the U.S., with a diverse portfolio that includes video production companies and digital marketing services [7]. - Allen Media Group, founded by Byron Allen, operates 28 network affiliate broadcast television stations and ten 24-hour HD television networks, serving nearly 300 million subscribers [8].

Core Points - Gray Media and Graham Media Group's joint fundraiser, Together for Texas, has raised over $1,104,000 for communities affected by flooding in Central Texas and the Hill Country [1] - The campaign was launched in response to the flooding on July 4, with Gray stations in 113 markets and Graham Media Group's KSAT and KPRC encouraging donations for The Salvation Army's relief efforts [1][2] - Donations are being used to provide essential supplies such as food, water, and emotional support, as well as recovery needs like clean-up supplies and assistance for small businesses [3][4] Company Overview - Gray Media, Inc. is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households across 113 markets [6] - The company operates 78 markets with top-rated television stations and has the largest Telemundo Affiliate group with 44 markets [6] - Graham Media Group consists of seven local media outlets and offers a range of digital media tools and advertising solutions, operating in multiple states [7]

Wall Street expects a year-over-year decline in earnings on lower revenues when Gray Media (GTN) reports results for the quarter ended June 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 8, might help the stock move higher if these key numbers are better than expectations. On ...

Group 1 - Gray Media, Inc. has agreed to acquire television stations from Block Communications, Inc. for $80 million, aiming to enhance its presence in the Midwest and create a Big Four duopoly in one market [1][3] - The acquisition includes WDRB and WBKI in Louisville, Kentucky, WAND in Springfield-Champaign-Decatur, Illinois, and WLIO in Lima, Ohio, all of which are top-rated local news stations in their respective markets [3][4] - Gray anticipates closing the transaction in the fourth quarter of 2025, pending regulatory approval and customary closing conditions [4] Group 2 - Gray Media is the largest owner of top-rated local television stations in the U.S., serving 113 television markets and reaching approximately 37% of U.S. television households [6] - The company operates in 78 markets with the top-rated television station and has the largest Telemundo Affiliate group with 44 markets [6]

Group 1 - Gray Media, Inc. has agreed to acquire television stations from Block Communications, Inc. for $80 million, aiming to enhance its presence in the Midwest and create a Big Four duopoly in one market [1][3] - The acquisition includes WDRB and WBKI in Louisville, Kentucky, WAND in Springfield-Champaign-Decatur, Illinois, and WLIO in Lima, Ohio, all of which are top-rated local news stations in their respective markets [3][4] - Gray anticipates closing the transaction in the fourth quarter of 2025, pending regulatory approval and customary closing conditions [4] Group 2 - Gray Media is the largest owner of top-rated local television stations in the U.S., serving 113 television markets and reaching approximately 37% of U.S. television households [6] - The company operates in 78 markets with the top-rated television station and 99 markets with the first or second highest-rated station as of 2024 [6]

Company Overview - Gray Media (GTN) experienced a decline of 4.65% in its stock price, closing at $4.51, which underperformed compared to the S&P 500's daily loss of 0.37% [1] - Over the past month, shares of Gray Media have decreased by 2.87%, lagging behind the Consumer Discretionary sector's loss of 2.48% and the S&P 500's gain of 2.68% [1] Financial Performance Expectations - Gray Media is set to announce its earnings on August 8, 2025, with an anticipated EPS of -$0.34, indicating a significant decline of 477.78% compared to the same quarter of the previous year [2] - The full-year Zacks Consensus Estimates predict earnings of -$0.72 per share and revenue of $3.15 billion, reflecting year-over-year changes of -121.43% and -13.67%, respectively [3] Analyst Estimates and Market Sentiment - Recent adjustments to analyst estimates for Gray Media are crucial as they indicate changing business trends, with positive revisions suggesting optimism about the company's outlook [3] - The Zacks Rank system, which evaluates estimate changes, currently ranks Gray Media at 3 (Hold), indicating a neutral sentiment [5] Industry Context - The Broadcast Radio and Television industry, which includes Gray Media, is part of the Consumer Discretionary sector and holds a Zacks Industry Rank of 163, placing it in the bottom 35% of over 250 industries [6] - Research indicates that industries in the top 50% of the Zacks Industry Rank outperform those in the bottom half by a factor of 2 to 1 [6]

Core Insights - Gray Media has agreed to acquire WLTZ, the NBC affiliate in Columbus, Georgia, and KJTV, the FOX affiliate in Lubbock, Texas, expanding its portfolio in local television markets [1][2] - The transactions are expected to close in the fourth quarter of 2025, pending regulatory approval and customary closing conditions [2] - Gray Media is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households [3] Company Overview - Gray Media, Inc. is headquartered in Atlanta, Georgia, and operates in 113 television markets [3] - The company owns the largest Telemundo Affiliate group with 44 markets and has a significant presence in top-rated local television stations [3] - Gray Digital Media, a subsidiary, provides advanced digital marketing strategies and services to clients [3]