Core Viewpoint - Gray Media, Inc. has updated its financial guidance for the quarter ended June 30, 2025, indicating a decline in total revenue compared to the same quarter in 2024, alongside other significant developments affecting its financial position [2][3][4]. Financial Guidance Summary - The anticipated total revenue for the quarter ended June 30, 2025, is projected to be between $769 million and $775 million, a decrease from $826 million in the same quarter of 2024 [2]. - Core advertising revenue is expected to decline to between $360 million and $362 million from $373 million in the previous year [2]. - Political advertising revenue is forecasted to drop significantly to between $8 million and $9 million, down from $47 million [2]. - Retransmission consent revenue is expected to remain relatively stable, projected between $368 million and $369 million compared to $371 million [2]. - Total operating expenses for broadcasting are anticipated to remain flat at approximately $565 million, with slight variations in station expenses and network affiliation fees [2]. Debt Management Actions - In June 2025, Gray repurchased $7.7 million of its 5.875% senior notes due 2026, and made amortization payments totaling $15 million on its Term Loans D and F, fulfilling all mandatory obligations through December 31, 2025 [3]. Impairment Charge - Gray expects to record a non-cash impairment charge of approximately $29 million in Q2 2025 related to intangible assets from its Atlanta station, WANF, due to its cessation of CBS network affiliation effective August 16, 2025 [4][5].

ATLANTA and CINCINNATI, July 7, 2025 /PRNewswire/ -- Gray Media, Inc. (NYSE: GTN) and The E.W. Scripps Company (NASDAQ: SSP) have entered into agreements to swap television stations across five mid-sized and small markets, resulting in the creation of new duopolies for each group.The local broadcasters anticipate these transactions will give them the market scale and depth to strengthen their financial durability, in turn allowing them to preserve and deepen public service to their communities with essentia ...

Core Points - President Trump claims his settlement with Paramount Global is valued at over $32 million, which is more than double the company's stated figure of $16 million [1][3][4] - The settlement includes a side deal for public service announcements (PSAs) valued between $15 million and $20 million, promoting causes supported by Trump [2][15] - Paramount has denied any connection between the settlement and the pending $8 billion merger with Skydance Media, asserting that the settlement does not include PSAs [8][4] Company Details - The settlement covers payments for Trump's future presidential library and legal fees, with "60 Minutes" agreeing to release interview transcripts after airing [7][10] - Paramount's initial offer was $15 million, which was later negotiated down from Trump's original demand of $100 million to around $50 million [11] - High-level negotiations included pressure from Paramount's controlling shareholder, Shari Redstone, to settle the dispute to avoid potential legal costs [13][14]

Core Viewpoint - Nickelodeon is launching a new animated preschool series, "Tim Rex in Space," in collaboration with Channel 5's Milkshake!, marking its first global co-production [1][4]. Group 1: Series Overview - "Tim Rex in Space" follows a T-Rex named Tim and his family as they embark on adventures in a unique world made up of asteroids [2]. - The series will premiere on August 4, 2025, airing for three consecutive weeks on Nickelodeon and Nick Jr. channels [1]. Group 2: Production Details - The series is created and produced by Mint Copenhagen, with animation by Jam Media, and features a team of experienced directors and writers [4]. - Key production personnel include Josephine Jerris Margolis, Louise Barkholt, Sam Dransfield, and Andy Potter [4]. Group 3: Voice Cast - The voice cast includes Cassian Swan-Mckee as Tim, Ace Gill as Tommy, Hope Delaney as Tia, and Jamie Smart as Kai, among others [3]. Group 4: Channel 5's Milkshake! - Channel 5's Milkshake! is a leading children's programming block in the UK, catering to preschoolers with a variety of engaging content [5]. - The channel features popular shows like "Peppa Pig," "PAW Patrol," and "Thomas & Friends," and is known for its strong character-led animation [5]. Group 5: Nickelodeon's Position - Nickelodeon, now in its 46th year, is recognized as the number-one entertainment brand for kids, with a diverse global business model [5]. - The brand encompasses television programming, consumer products, digital experiences, and feature films [5].

Bob Kostas, welcome back to Meet the Press and welcome back to NBC. Feels like I never left. Well, it's wonderful to have you here and to be sitting with you.The NBA season is winding down. We're in the middle of baseball season. The NFL is right around the corner, so it seemed like the perfect time to sit and have a conversation with you.Okay. You of course retired from Playbyplay announcing last year. What has this chapter of your life been like.You know, I really think that for a number of years I was ri ...

Core Viewpoint - Paramount Global co-CEO George Cheeks emphasized the necessity of settling President Trump's lawsuit to mitigate unpredictable legal costs, potential adverse judgments, and business disruptions [1][6]. Group 1: Settlement Details - Paramount Global and CBS agreed to a settlement that could exceed $30 million in response to Trump's $20 billion lawsuit regarding a "60 Minutes" interview with Kamala Harris, with Trump receiving $16 million upfront [2]. - The settlement will cover legal fees, case costs, and contributions to Trump's future presidential library or charitable causes, at his discretion [2]. Group 2: Business Justification - Cheeks defended the settlement from a business perspective, stating that litigation often leads to high and unpredictable legal defense costs, risks of adverse judgments, and disruptions to business operations [6]. - He noted that settling allows companies to focus on core objectives rather than being distracted by prolonged legal battles [6]. Group 3: Future Implications - There is speculation about an additional allocation in the mid-eight figures for advertisements or public service announcements supporting conservative causes by CBS in the future, which would surpass the $15 million paid by ABC to Trump for a previous defamation lawsuit [7]. - Current management of Paramount disputes the additional allocation but is preparing for a multi-billion-dollar merger with Skydance Media, which is unrelated to the lawsuit [10].

Financial Data and Key Metrics Changes - The company reported annual revenue exceeding $6 billion, representing a 33% year-over-year increase [19] - Direct-to-consumer (DTC) profitability improved by $1.2 billion in the last year [19] Business Line Data and Key Metrics Changes - The content strategy focused on fewer, larger original series has proven successful, leading to the addition of 10 million incremental subscribers and double-digit growth in watch time [18] - The company achieved significant growth in its streaming service, Paramount Plus, which is expected to reach domestic profitability this year [15][19] Market Data and Key Metrics Changes - The company has not observed any material impact from recent macroeconomic trends, although there is increased pressure in the lower side of the advertising market [21][23] - The company maintains a strong position with a large addressable footprint combining streaming and linear services, which is attractive to advertisers [22] Company Strategy and Development Direction - The company is committed to investing in world-class content and fostering a creative culture to drive shareholder value [27] - The strategy emphasizes the importance of hit-driven content rather than volume, which has been validated by recent performance metrics [17][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position, citing a strong slate of hits and a robust lineup of live events and sports [22][23] - The company believes that the current pressures in the advertising market will balance out over time, reinforcing its optimistic outlook [23] Other Important Information - The company settled a lawsuit with the President, which was driven by the desire to avoid the costs and risks associated with prolonged legal battles [13][14] Q&A Session Summary Question: What drove the company's decision to settle the lawsuit with the President? - The company settled to avoid high legal costs, risks of adverse judgments, and disruptions to business operations [13][14] Question: Can you share more about the drivers of improvement in B2C and confidence in reaching domestic profitability? - The content strategy focusing on fewer, bigger original series has driven significant growth, with 10 million new subscribers and improved profitability [15][18][19] Question: What is the update on recent advertising trends? - The company has not seen material impacts from macroeconomic trends, although there is pressure in the lower advertising market [21][22][23] Question: How does content drive value across the company? - Content investments enhance engagement across streaming, linear, and theatrical platforms, benefiting multiple revenue streams [24][25]

Core Viewpoint - Paramount has agreed to pay $16 million to settle a lawsuit filed by Donald Trump regarding a misleading interview with Kamala Harris, raising concerns about free speech implications [1][4]. Group 1: Lawsuit Details - The lawsuit was centered around a CBS News feature that Trump claimed was misleading due to the editing of Harris's interview [1][2]. - Trump's lawyer stated that the editing caused "mental anguish" and confusion among voters, asserting that it misrepresented Harris's responses [2][4]. - The settlement amount will be directed to Trump's future presidential library rather than to him personally [2]. Group 2: Company Response and Implications - Paramount and CBS rejected Trump's claims, arguing that the interview was edited for brevity and clarity, and sought to have the lawsuit dismissed [2][3]. - The case has attracted attention from press freedom advocates, with the Freedom of the Press Foundation, a Paramount shareholder, threatening to file a lawsuit if a settlement was reached [4][7]. - This settlement follows a similar case where ABC News paid $15 million to Trump over a defamation lawsuit, indicating a trend of media companies settling disputes with the former president [7].

I have sinned against you. Televangelist Jimmy Swagert has died according to a statement from his family. The Louisiana native rose to prominence as a fiery preacher on radio and then television in the 70s and 80s.His speeches reached millions and made him an estimated hundreds of millions of dollars. But his career was mired by scandal after being caught in the company of prostitutes famously delivering a tearful sermon in the aftermath of that. Swagger was 90 years old. ...

ATLANTA, July 01, 2025 (GLOBE NEWSWIRE) -- Gray Media has named Stephanie Plant as the next General Manager of WTAP, the NBC affiliate in Parkersburg, West Virginia. She will also oversee 2 local low-power stations: FOX affiliate WOVA-LD and CBS affiliate WIYE-LD. She succeeds Ken Long, who is retiring after 44 years in the media industry. Stephanie assumes her new role effective July 2, 2025. Stephanie is a Parkersburg native and has nearly 20 years of sales experience in the market. She joined WTAP as an ...