GRAY MEDIA, INC
For the period ended Aug 8, 2025. Filed Aug 8, 2025.
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Aug 8, 2025 · Filed Aug 8, 2025
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Contents
EX-99.1 · Operating Highlights:
Operating Highlights:
| ● | Total revenue in the second quarter of 2025 was $772 million, a decrease of 7% from the second quarter of 2024. |
| ● | Core advertising revenue in the second quarter of 2025 was $361 million, a decrease of 3%, consistent with our updated guidance for the quarter. |
| ● | Retransmission consent revenue in the second quarter of 2025 was $369 million, a decrease of 1% from the second quarter of 2024, consistent with our updated guidance for the quarter. |
| ● | Political advertising revenue in the second quarter of 2025 was $9 million, a decrease of 81% from the second quarter of 2024, consistent with the off-year of the two-year political advertising cycle, consistent with our updated guidance for the quarter. |
| ● | During the second quarter of 2025, we recognized a non-cash impairment of intangible assets of $28 million, related to the non-renewal of the network affiliation with the CBS Network at our television station WANF in the Atlanta, Georgia market (DMA 7). |
| ● | Net loss attributable to common stockholders was $69 million in the second quarter of 2025, compared to net income attributable to common stockholders of $9 million in the second quarter of 2024, due primarily to the cyclical decrease in political advertising revenue. |
| ● | Adjusted EBITDA was $169 million in the second quarter of 2025, compared to $225 million in the second quarter of 2024, due primarily to the cyclical decrease in political advertising revenue. |
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