Short answer
GRAY MEDIA, INC (GTN) filed an 8-K current report with the SEC on July 1, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 8.01 (Other Events), Item 7.01 (Regulation FD Disclosure). $70.0M senior secured notes issued at 7.250% interest, maturing 2033.
GRAY MEDIA, INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $70.0M senior secured notes issued at 7.250% interest, maturing 2033
- Debt ranks equally with existing $775.0M 7.250% notes, increasing the same-series balance to $845.0M
- Proceeds include $40.0M for the first closing of Gray’s American Spirit Media acquisition
- Secured financing adds leverage and recurring interest obligations while funding strategic station expansion
Item 7.01 · Regulation FD Disclosure
- July 1, 2026 press release announced issuance of Additional Notes, signaling new financing and potential leverage implications
- July 1, 2026 press release announced Gray’s acquisition of American Spirit Media
- Investors should review Exhibit 99.1 for transaction terms, financing details, and expected strategic impact
Item 8.01 · Other Events
- Acquisition of six American Spirit Media television stations for $50.0 million cash, expanding Gray’s broadcast portfolio
- Initial closing completed July 1, with $40.0 million paid and limited local management begun
- $10.0 million remaining transaction consideration implied by the two-closing structure
- Repurchase of 50,000 Series A preferred shares for $30.0 million plus accrued dividends
- Preferred repurchase reduced $50.0 million liquidation preference using Offering proceeds, lowering future preferred claims
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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