Revenue Projections - For the quarter ended June 30, 2025, Gray Media anticipates total revenue (less agency commissions) to be between $769 million and $775 million, compared to $826 million for the same quarter in 2024, indicating a decrease of approximately 6.9% to 6.9%[3] - Core advertising revenue is expected to be between $360 million and $362 million, down from $373 million in the prior year, reflecting a decline of about 2.9% to 3.5%[3] - Political advertising revenue is projected to drop significantly to between $8 million and $9 million, compared to $47 million in the same quarter of 2024, representing a decrease of approximately 81.9% to 80.4%[3] - Retransmission consent revenue is expected to be between $368 million and $369 million, slightly down from $371 million in the previous year, indicating a decrease of about 0.5% to 0.5%[3] Expenses and Financial Management - Operating expenses for broadcasting are expected to remain stable at approximately $565 million, consistent with the previous year[3] - Corporate expenses are projected to be between $20 million and $25 million, down from $23 million in the same quarter of 2024, indicating a potential reduction of about 13% to 8.7%[3] - Gray Media plans to record a non-cash impairment charge of approximately $29 million related to intangible assets associated with its Atlanta station, WANF, due to its cessation of CBS network affiliation[5] - In June 2025, Gray repurchased $7.7 million of its outstanding 5.875% senior notes due 2026, and made amortization payments totaling $15 million on its Term Loans D and F, enhancing its financial flexibility[4] - The company emphasizes its commitment to strengthening its balance sheet and enhancing financial flexibility through strategic debt management[4] Market Presence - Gray Media's portfolio includes 113 television markets, reaching approximately 37% of US television households, with a strong presence in top-rated local television stations[7]
Gray Television(GTN_A) - 2025 Q2 - Quarterly Results