Gray Media has raised its third quarter 2026 political advertising guidance and lifted the low end of its total revenue range, according to an update issued in connection with lender meetings to potentially refinance its credit facility. The Atlanta-based broadcaster now expects political advertising revenue of $188 million to $195 million for the quarter ending September 30, 2026, up from its August 7, 2026 guidance of $165 million to $185 million, while core advertising is now expected to be down 1% to flat as reported, compared with prior guidance of flat as reported. Total revenue guidance was narrowed and lifted to $950 million to $965 million from $935 million to $965 million, and total corporate and administrative expense guidance was lowered to $30 million to $35 million from $35 million to $40 million. Gray said it currently anticipates no outstanding borrowings under its Revolving Credit Facility as of September 30, 2026, and that borrowing capacity under its Accounts Receivable Securitization facility is approximately $379 million, reflecting lower core commercial receivables driven by strong political advertising revenues, which are paid in advance. The company expects to report its third quarter 2026 financial results on Friday, November 6, 2026, and to host its quarterly investor call at 11AM that morning.
Gray Television IncGray Media raised Q3 2026 political ad guidance and lifted the low end of its total revenue range while lowering expense guidance, in connection with lender meetings to refinance its credit facility.
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