GTN.A

Gray Media, Inc. operates as a multimedia company that owns and operates television stations and digital properties across the United States. Headquartered in Atlanta, Georgia, the company serves 113 television markets that collectively reach approximately 36 percent of U.S. television households. Gray's portfolio includes stations affiliated with major networks including ABC, CBS, NBC, and FOX, making it one of the largest owners of top-rated local television stations in the country. The company generates revenue primarily through advertising sales, retransmission consent fees from cable and satellite providers, and digital media services. Gray also operates Tupelo Honey, a broadcast equipment and tower company, and maintains a presence in radio broadcasting through various market holdings. The company has pursued an aggressive growth strategy through strategic acquisitions, including its 2021 purchase of Meredith Corporation's local media group, which significantly expanded its station footprint. Gray produces local news programming across its markets, with many stations serving as leading news providers in their communities. The company employs approximately 10,000 people across its various operations. Gray's business model leverages economies of scale in content production and distribution while maintaining strong local market connections through its news operations and community engagement initiatives.