1. Gray Media renews NBC station affiliations across 54 markets. 2. Deal covers over 14 million U.S. households, enhancing viewership. 3. NBC retains top programming ratings, increasing advertisement revenue potential. 4. Gray Media is the largest owner of top-rated local TV stations. 5. Agreement strengthens Gray's digital assets and broadens its market reach.
FAQ
Why Bullish?
The renewal of NBC affiliations likely boosts revenue through increased advertisers' confidence, leading to potential stock price appreciation. Historical instances show that strong content partnerships tend to correlate with improved financial performance.
How important is it?
This major agreement solidifies Gray Media's position, influencing investor sentiment favorably while enhancing its competitive footing in the television market.
Why Long Term?
The implications of this agreement will unfold over time as advertising revenues build up, setting the stage for sustained growth. For example, similar long-term partnerships in prior years increased market valuation over subsequent quarters.
ATLANTA, Dec. 23, 2025 (GLOBE NEWSWIRE) -- Gray Media, Inc. and NBC today announced a multi-year deal that extends and renews the station affiliation agreements for all 54 markets nationwide in which Gray owns and operates NBC affiliated television stations. This coverage reaches more than 14 million households – nearly 11% of U.S. TV households – including Nashville, TN; Louisville, KY; Memphis, TN; Richmond, VA; and more.
The new agreement includes full carriage of the NBC broadcast network, including "TODAY," "NBC Nightly News," "Sunday Night Football," the NBA, the Olympics and Paralympics, "One Chicago" franchise, "The Voice," "The Tonight Show Starring Jimmy Fallon" and more. In the current 2025-26 television season, NBC is the #1 network in all programming in both demos.
About Gray Media:
Gray Media, Inc. (NYSE:GTN) is a multimedia company headquartered in Atlanta, Georgia. The company is the nation's largest owner of top-rated local television stations and digital assets serving 113 television markets that collectively reach approximately 37 percent of US television households. The portfolio includes 78 markets with the top-rated television station and 99 markets with the first and/or second highest rated television station during 2024, as well as the largest Telemundo Affiliate group with 44 markets. The company also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Gray's additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. For more information, please visit www.graymedia.com.
Contact:
Kevin P. Latek, Executive Vice President, Chief Legal and Development Officer, 404-266-8333
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