GRAY MEDIA, INC
Gray Media, Inc. (NYSE: GTN) operates as the nation's largest owner of top-rated local television stations and digital assets in the United States. The company maintains its corporate website at www.graymedia.com and serves as a multimedia company headquartered in Atlanta, Georgia. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What GRAY MEDIA, INC does
In the company’s own words
Gray Media, Inc. (NYSE: GTN) operates as the nation's largest owner of top-rated local television stations and digital assets in the United States. The company maintains its corporate website at www.graymedia.com and serves as a multimedia company headquartered in Atlanta, Georgia.
The company's television station portfolio encompasses 114 full-power television markets collectively reaching approximately 37 percent of US television households. This portfolio includes 77 markets with the top-rated television station and 97 markets with first or second highest rated stations in average all-day ratings. Gray Media owns the largest Telemundo Affiliate group with 47 markets totaling over 1.6 million Hispanic TV households. The company's network affiliations include the Big Four networks—CBS, NBC, FOX, and ABC—with CBS-affiliated channels accounting for approximately 37 percent of total revenue, NBC-affiliated channels representing approximately 27 percent, FOX-affiliated channels comprising approximately 14 percent, and ABC-affiliated channels representing approximately 11 percent.
Beyond traditional broadcast television, Gray Media operates Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies and advanced digital products and services. The company also owns video production companies including Raycom Sports, Tupelo Media Group, and PowerNation Studios, along with studio production facilities Assembly Atlanta and Third Rail Studios.
Operating revenues derive primarily from broadcast and digital advertising and retransmission consent fees. For the fiscal year ended December 31, 2025, total revenue was $3.1 billion. The company's largest market by revenue is Phoenix, Arizona, contributing 5 percent of total revenue, with the top 10 markets contributing approximately 25 percent of total revenue.
As of February 20, 2026, Gray Media employed 9,165 full-time employees and 417 part-time employees across its operations. The company maintains a strong focus on local news and information programming as a key driver of its market position, believing this strategy enables more stable revenues compared to peers. Gray Media pursues selective acquisition opportunities to expand its footprint while maintaining prudent cost management and strengthening its balance sheet through strategic debt management.
Company details
- Sector
- Communication Services
- Industry
- Communications
- Headquarters
- ATLANTA, GA
- Fiscal year end
- December
- CIK
- 43196
- SIC
- 4833
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns GRAY MEDIA, INC — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · GRAY MEDIA, INC’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
By share class
| Class | Held by funds | Funds | Shares out |
|---|---|---|---|
| GTNcommon stock (no par value) | 28.5% | 174 | 93.1M |
| GTN/AClass A common stock (no par value) | 2.8% | 16 | 9.9M |
GRAY MEDIA, INC’s bonds, as funds hold them
Funds report holding 5 issues of GRAY MEDIA, INC’s debt, $1.91B at market value — what funds hold, not the company’s total debt. Weighted-average coupon 8.21%, maturing 2029 to 2033.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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