Financing ·
On June 29, 2026, Gray Media, Inc. entered into a purchase agreement to sell $70.0 million of 7.250% Senior Secured…
GTNGray Media, Inc
On June 29, 2026, Gray Media, Inc. entered into a purchase agreement to sell $70.0 million of 7.250% Senior Secured First Lien Notes due 2033 in a private placement. The company used $40.0 million of the proceeds for the first closing of its $50.0 million cash acquisition of six television stations from American Spirit Media, LLC. Additionally, Gray used $30.0 million plus accrued dividends to repurchase 50,000 shares of its Series A Perpetual Preferred Stock, which had an aggregate liquidation preference of $50.0 million. The new notes rank pari passu with existing $775.0 million of 7.250% Senior Secured First Lien Notes due 2033. Gray Media, Inc. operates in the broadcasting industry and owns and operates local television stations.