Gray Media, Inc. revenue by segment GTN

Annual Quarterly

Gray Media, Inc. splits its revenue 2 ways in its filings. By operating segments, the largest line in Q2 of fiscal 2026, the quarter ended Jun 30, 2026 was Broadcasting at $813.0 million, 97% of the total. By sales mix, the largest line in Q2 of fiscal 2026, the quarter ended Jun 30, 2026 was Retransmission Consent at $359.0 million, 43% of the total.

USD in millions. The percent under a figure is the change from the same quarter a year earlier.

Line	TTM Jun 30, 2026	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024	Q3 FY2024 Sep 30, 2024
Revenue	3,148	839	768	792	749	772	782	1,045	950
Operating segments
Broadcasting	3,031 -11.9% share 96.3%	813 +7.8% share 96.9%	739 -2.1% share 96.2%	755 -25.1% share 95.3%	724 -21.6% share 96.7%	754 share 97.7%	755 share 96.5%	1,008 share 96.5%	924 share 97.3%
Production Companies	117 +8.3% share 3.7%	26 +44.4% share 3.1%	29 +7.4% share 3.8%	37 +0.0% share 4.7%	25 -3.8% share 3.3%	18 share 2.3%	27 share 3.5%	37 share 3.5%	26 share 2.7%
Sales mix
Retransmission Consent	1,379 -6.7% share 43.8%	359 share 42.8%	339 -10.6% share 44.1%	335 -7.2% share 42.3%	346 -6.2% share 46.2%	—	379 share 48.5%	361 share 34.5%	369 share 38.8%
Core Advertising	1,456 +0.4% share 46.3%	357 -1.1% share 42.6%	352 +2.3% share 45.8%	392 +3.2% share 49.5%	—	361 share 46.8%	344 share 44.0%	380 share 36.4%	365 share 38.4%
Political Advertising	133 -70.1% share 4.2%	83 +822.2% share 9.9%	30 +130.8% share 3.9%	12 -95.2% share 1.5%	8 -95.4% share 1.1%	9 share 1.2%	13 share 1.7%	250 share 23.9%	173 share 18.2%
Production Companies	117 +8.3% share 3.7%	26 +44.4% share 3.1%	29 +7.4% share 3.8%	37 +0.0% share 4.7%	25 -3.8% share 3.3%	18 share 2.3%	27 share 3.5%	37 share 3.5%	26 share 2.7%
Other services	63 -7.4% share 2.0%	14 -6.7% share 1.7%	18 -5.3% share 2.3%	16 -5.9% share 2.0%	15 -11.8% share 2.0%	15 share 1.9%	19 share 2.4%	17 share 1.6%	17 share 1.8%

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.

Company profile

Industry: Television Broadcasting Stations (SIC 4833)
Listed as: GTN (NYSE), GTN-A (NYSE)
Fiscal year ends: December 31
Incorporated in: GA
Headquarters: Atlanta, GA
SEC filer status: Accelerated filer
SEC CIK: 43196
Former names: GRAY MEDIA, INC (until Oct 9, 2026); GRAY TELEVISION INC (until Feb 24, 2025); GRAY COMMUNICATIONS SYSTEMS INC /GA/ (until Jul 25, 2002)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.