Gray television makes significant progress on debt reduction and replenishes authorization for additional debt reduction

Atlanta, nov. 20, 2024 (globe newswire) -- gray television, inc. (“gray,” “gray media,” the “company,” “we,” “us” or “our”) (nyse: gtn) has completed a series of transactions that collectively reduced the company's principal amount of debt outstanding by $278 million since october 1, 2024, bringing the company's total principal debt reduction to $519 million since january 1, 2024.  accordingly, our board of directors today has authorized an increase in our previously announced debt repurchase authorization, replenishing the authorization to a total of $250 million of available liquidity to repurchase our outstanding indebtedness.  we anticipate that the meaningful reduction in our outstanding debt this year will result in a significant reduction of cash interest expense going forward.
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