Gray Media raises Q3 2026 political ad revenue guidance to $188-$195 million
GTN•Gray Media raised its Q3 2026 political advertising revenue outlook to $188 million-$195 million from $165 million-$185 million. It also raised the low end of its total revenue outlook to $950 million, lowered its core advertising outlook to down 1% to flat, and cut its corporate and administrative expense forecast to $30 million-$35 million.
1. Updated Q3 outlook
Gray Media raised its Q3 2026 political advertising revenue guidance to $188 million-$195 million, from $165 million-$185 million. Its total revenue outlook increased at the low end to $950 million-$965 million, while its core advertising view shifted to down 1% to flat from flat previously.
2. Expense forecast
The company cut its corporate and administrative expense forecast to $30 million-$35 million from $35 million-$40 million. The update implies about $192 million of political revenue at the midpoint, including about $9 million from recent acquisitions.
