Gray's operating results for the first quarter driven by continued strong demand and execution

Atlanta, may 05, 2023 (globe newswire) -- gray television, inc. (“gray,” “we,” “us” or “our”) (nyse: gtn) today announced financial results for the first quarter ended march 31, 2023, reflecting our total revenue of $801 million, that was above our revenue guidance and total operating expenses (before depreciation, amortization and loss on disposal of assets) of $640 million, which, after excluding $35 million of production segment operating charges as discussed below, was near the low end of our expense guidance for the quarter. gray took several steps in the first quarter to manage its leverage and ensure its access to ample liquidity should macroeconomic circumstances become more challenging the rest of this year.
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