Gray Media Inc. reported total revenue of $749.0 million for the third quarter of 2025, near the high end of its guidance. Core advertising revenue for the quarter was $355.0 million, reflecting solid quarter-over-quarter performance. For the nine months ended September 30, 2025, core advertising totaled $1,060.0 million, down 5 percent from the prior year. Political advertising revenue for the same period was $30.0 million, a decrease of 88 percent compared to 2024. Retransmission consent revenue reached $1,094.0 million, down 2 percent year-over-year. Net loss for the third quarter was $10.0 million, compared to net income of $96.0 million in the same period last year. Adjusted EBITDA for the quarter was $162.0 million, a 52 percent decrease from the previous year. During the quarter, Gray Media announced a historic station swap, three planned acquisitions, and renewed its affiliation agreements with the FOX network. The company also completed two debt market transactions to strengthen its balance sheet and extend debt maturities.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Gray Media Inc. published the original content used to generate this news brief on November 07, 2025, and is solely responsible for the information contained therein.
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