Gray Media Declares $0.08 Dividend, Posts $768M Q1 Revenue with 2% Ad Growth
Gray Media’s Board approved a quarterly cash dividend of $0.08 per share, payable June 30 to shareholders of record June 15. The company reported Q1 revenue of $768 million, core advertising up 2% to $352 million and political advertising up 15% to $30 million, while net retransmission revenue fell 3% to $142 million.
1. Quarterly Dividend Announcement
Gray Media’s Board of Directors authorized a quarterly cash dividend of $0.08 per common and Class A share. The dividend will be paid on June 30, 2026 to holders of record as of June 15, 2026.
2. First Quarter Financial Results
Total revenue for Q1 2026 reached $768 million, at the high end of guidance, compared with $782 million a year earlier. Core advertising revenue rose 2% to $352 million, retransmission consent revenue declined 11% to $339 million (net retransmission revenue fell 3% to $142 million), and political advertising surged 15% to $30 million.
3. Operational Developments and Outlook
Management resolved a distribution partner dispute that impacted retransmission trends and completed station acquisitions in ten markets during Q1. The company highlighted its ability to leverage sports partnerships and a strong mid-term political cycle to drive growth, while continuing strategic transactions and balance sheet management.