GRAY MEDIA, INC

Gray Media, Inc. is a multimedia enterprise that operates local television stations and digital media properties across the United States. The company broadcasts primary channels affiliated with major television networks, alongside independent and secondary digital channels. It also manages video production entities such as Raycom Sports, Tupelo Media Group, and PowerNation Studios, and operates studio production facilities including Assembly Atlanta and Third Rail Studios. Gray Media delivers marketing services to national and local clients through its digital agency, Gray Digital Media. Its principal revenue streams include broadcast and digital advertising as well as retransmission consent fees, serving advertisers primarily in the automotive and services industries, such as medical, financial, and legal businesses.

The company is headquartered in Atlanta, Georgia. Its operations span 114 full-power television markets nationwide, reaching roughly 37 percent of all television households in the United States. Its broadcast footprint includes operations in designated market areas ranked from 7 to 209, as well as a Spanish-language affiliate network covering 47 markets.

Summary of the business section of Gray Media's latest annual report, written by StockData.

“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.

“As of February 20, 2026, we had 9,165 full-time employees and 417 part-time employees, of which, 506 full-time and 16 part-time employees at 17 stations were represented by various unions.”