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Seeking Alpha·United States·Monday, September 28, 2026 at 11:16 AM

Gray Media lifts political ad revenue outlook for Q3

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Preeti Singh

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Grafissimo/E+ via Getty Images

Gray Media (GTN) has raised its political advertising revenue guidance for the third quarter of 2026.

For the period ending September 30, 2026, the firm now expects political ad revenue of $188M - $195M, compared to prior guidance of $165M - $185M.

Gray’s 2026 political advertising revenue estimate of $305M assumes $192M in third-quarter revenue, based on the midpoint of its updated guidance, including an estimated $9M in political advertising revenue from recent acquisitions through Sept. 30, 2026.

Core advertising is now expected to decline 1% to remain flat on a reported basis, compared with the previous outlook for flat growth.

Total revenue for the quarter is now seen at $950M - $965M vs. $935M - $965M previously expected. Current analysts estimates for Q3 revenue stand at $951.90M.

Gray currently expects to report its third quarter 2026 financial results on Friday, November 6, 2026.

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