Gray Media Raises Low End of Third-Quarter Revenue Guidance

By Colin Kellaher

Gray Media raised the low end of its third-quarter revenue guidance, as the multimedia company is getting a boost from higher-than-expected spending on political advertisements.

Gray on Monday said it now expects quarterly revenue of $950 million to $965 million, up from a prior forecast of $935 million to $965 million.

Analysts polled by FactSet, on average, are expecting Gray to post third-quarter revenue of $952 million.

The Atlanta company raised its quarterly forecast for political advertising revenue to $188 million to $195 million from $165 million to $185 million, and said it now expects core advertising revenue for the quarter will be flat to down 1%, compared with prior guidance of being roughly flat.

Gray said it is providing the updated guidance in connection with lender meetings to potentially refinance its credit facility, adding that it expects to have no borrowings outstanding under the credit line at the end of the quarter.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 28, 2026 06:36 ET (10:36 GMT)