Gray Media (formerly Gray Television) is one of the largest owners of local television stations in the United States, operating Big Four network affiliates across many mid-sized markets. Revenue comes mainly from advertising, political spots and retransmission consent fees paid by cable and satellite distributors. Local news production and multi-market scale are core competitive strengths.
| Quarter | Revenue | YoY % | Earnings | YoY % |
|---|---|---|---|---|
| Q2 2025 | 772 | — | -69 | — |
| Q3 2025 | 749 | — | -23 | — |
| Q4 2025 | 792 | — | -23 | — |
| Q1 2026 | 768 | — | -33 | — |
| Q2 2026 | 839 | 8.7% | 21 | — |
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