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Gray Media announces Q3 EPS of 24 cents, falling short of consensus estimate of 33 cents.
Reports Q3 revenue $749M, consensus $745.05M.
Gray Media reveals new video streaming partnership with Google Cloud
Gray Media (GTN) announced a new video streaming deal for a full end-to-end solution on Google Cloud (GOOGL), powered by Quickplay, that will redefine the streaming experience for viewers. This partnership combines Google Cloud's AI infrastructure with Quickplay's cloud-native platform to deliver personalized viewing experiences. Gray's new streaming structure and viewer personalization strategy are expected to start rolling out in all Gray markets in January 2026. "This newly created video partnership marks a pivotal moment for Gray. With this game-changing infrastructure, we are leading the charge into the future of local streaming, one personalized viewing experience at a time," Gray's President and Co-CEO Pat LaPlatney said.
Gray Media extends all agreements with Fox for affiliation.
Gray Media has reached an agreement with the Fox Television Network that extends and renews the network affiliations for all of Gray's Fox affiliated television stations across 27 markets, including Portland, Oregon; Cincinnati, Ohio; Las Vegas, Nevada; and Birmingham, Alabama.
Gray Media names Bob Kroeger CTO
Gray Media has promoted Bob Kroeger Chief Technology Officer for the company, effective immediately. Bob has served as Chief Information Officer for both Gray and Raycom Media. He succeeds David Burke, who retired on July 31 and will continue advising Gray through the end of the year. "We are thrilled to elevate Bob Kroeger to Chief Technology Officer of Gray Media," said Gray's President and Co-CEO Pat LaPlatney. "He has a wealth of experience, and is highly respected by our employees, and across the industry. Bob has big shoes to fill with the departure of David Burke, but we are thrilled to have someone of his caliber step up to our CTO role."
Gray Media to acquire TV stations from Allen Media Group for $171M
Gray Media has reached an agreement with Byron Allen's Allen Media Group to acquire AMG's television stations in ten markets for $171M. The transaction would bring Gray into three new markets - Columbus-Tupelo, Mississippi; Terre Haute, Indiana; and West Lafayette, Indiana - with the acquisition of the local television station in each market that had the highest all-day ratings in 2024, according to Comscore. Gray expects the transaction to strengthen the company's presence in the seven other markets by creating new duopolies that would allow Gray to preserve and deepen public service to their communities with expanded local news, local weather, and local sports programming. Gray anticipates closing the transaction in the fourth quarter of this year following receipt of regulatory approval, including certain waivers of FCC local ownership rules, and other customary closing conditions.
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