Gray media's fourth quarter financial results exceeded expectations

Atlanta, feb. 27, 2025 (globe newswire) -- gray media, inc. (“gray,” “gray media,” “we,” “us” or “our”) (nyse: gtn) today announced its financial results for the quarter ended december 31, 2024, which included revenues and expenses both finishing slightly better than guidance. for the full-year 2024, our portfolio of leading television stations earned $497 million of political advertising revenue, which we estimate to be the highest level of political advertising revenue among our peers, in total and on a per television household basis. total operating expenses (before depreciation, amortization and loss on disposal of assets) in the fourth quarter of 2024 were $648 million, which was 2% below the low end of our previously announced guidance for the quarter. in addition, during 2024, we reduced the outstanding principal amount of our outstanding debt by $520 million, and we finished the year with a slightly lower leverage ratio, as defined in our senior credit agreement, than we began the year.
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