Gray Media Raises 3Q 2026 Political Advertising Guidance and Lifts Low End of Total Revenue Range

ATLANTA, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Gray Media, Inc. (“Gray”) (NYSE: GTN) today announced updated financial guidance for the quarter ending September 30, 2026, updating guidance originally issued on August 7, 2026. The update is being provided in connection with lender meetings to potentially refinance its credit facility and presentations to investors it may make from time to time. While Gray is in the process of finalizing its third quarter financial results, the following updated estimates reflect the most current operational information and expectations available to the company as of the date of this release. For the estimates not listed below, our original guidance issued on August 7, 2026, remains unchanged. As always, guidance may change in the future based on several factors and therefore may not reflect future actual results.

Quarter Ending September 30, 2026 September 30, 2025August 7, 2026September 28, 2026 (in millions)(Unaudited)GUIDANCEUPDATE Revenue (less agency commissions): Core advertising$ 355Flat, as reported-1% to Flat, as reported Political advertising$ 8$165 - $185$188 - $195 Total revenue$ 749$935 - $965$950 - $965 Operating expenses (excluding depreciation, amortization and (gain) loss on disposal of assets): Total corporate and administrative expense$ 28$35 - $40$30 - $35