Gray Media Completes Asset Swap with E.W. Scripps
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2026
0mins
Gray Media (GTN) closed on its cash-free, even exchange of comparable assets with the E.W. Scripps Company (SSP) involving the swap of television stations across five mid-sized and small markets that the parties announced in July 2025. Under the terms of the agreement, Gray has acquired: WSYM in Lansing, Michigan, where Gray owns WILX; and KATC in Lafayette, Louisiana, where Gray owns KADN and KLAF-LP as well as leading television stations in each of the other Louisiana markets. In exchange, Scripps has acquired: KKTV in Colorado Springs, Colorado, where Scripps owns KOAA; KKCO and low power station KJCT-LP in Grand Junction, Colorado; and KMVT and low power station KSVT-LD in Twin Falls, Idaho, where Scripps owns low power station KSAW-LD. Gray has now consummated all previously announced television station transactions.
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Analyst Views on GTN
Wall Street analysts forecast GTN stock price to rise
4 Analyst Rating
3 Buy
1 Hold
0 Sell
Strong Buy
Current: 3.730
Low
5.50
Averages
7.25
High
10.00
Current: 3.730
Low
5.50
Averages
7.25
High
10.00
About GTN
Gray Media, Inc. is a multimedia company. The Company owns local television stations and digital assets serving approximately 120 full-power television markets in the United States. The Company's portfolio includes 81 markets with television stations and 103 markets, as well as the Telemundo Affiliate group with 47 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. Its 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. Its brands include Gray Digital Media, Gray Sports Networks, Local News Live, Assembly, InvestigateTV, Raycom Sports, PowerNation Studios, Tupelo Honey, Gray Washington News Bureau, and Telemundo.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Data-Driven Strategy: The solution leverages the National Voter File, covering over 235 million registered voters, and the National Consumer File, built from more than 267 million consumer records, allowing targeted outreach to party-specific voters during primaries, thus reducing wasted impressions.
- Market Advantage Integration: By combining Gray Media's strong local market presence across 117 television markets with Aristotle's continuously updated voter intelligence, advertisers can deliver the right message to the right voters at the right time, significantly improving campaign effectiveness.
- Increasing Voter Engagement: Through Political 360, Gray Media not only helps advertisers optimize their spending but also enhances voter awareness and advocacy, preparing campaigns effectively for the upcoming Election Day.
See More
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- Outstanding Performers: WVUE in New Orleans led with nine awards, followed closely by WMTV in Wisconsin with six, demonstrating the strong impact these stations have in local news reporting.
- Diverse Honors: The awards included four for Overall Excellence and eleven for Investigative Reporting, indicating Gray Media's ongoing commitment to high-quality journalism, which enhances public trust in their news content.
- National Competition Opportunity: The regional awards position Gray's winning stations for the national competition, further elevating their brand image and potentially attracting more advertising revenue, thus promoting future business growth.
See More
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- Soft Advertising Trends: Co-CEO Patrick LaPlatney noted a softness in core advertising trends as the company enters Q2, primarily influenced by tensions in the Middle East and fluctuations in oil prices, leading clients to delay spending commitments and reducing visibility into near-term advertising demand.
- Revenue Decline: CFO Jeff Gignac reported a $4 million decline in net retransmission revenue in Q1 2026 compared to the same period last year; however, the company still expects full-year net retransmission revenue growth to remain in the low single-digit range, indicating confidence in future revenue stability.
See More
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- New General Manager: Gray Media has appointed Jamie Bremer as the General Manager of WFIE, the NBC affiliate in Evansville, Indiana, effective immediately, leveraging her 13 years of experience across various roles to enhance leadership at the station.
- Sales Leadership Achievements: As the Director of Sales at WFIE, Jamie has been instrumental in driving local direct and digital revenue, significantly improving the station's business performance through strategic partnerships and market development initiatives.
- Community Engagement: Jamie is recognized for her commitment to building authentic relationships within the business community and actively participates in community service, serving as President of the board for Tristate Senior Wishes and coaching several local soccer teams, showcasing her passion and responsibility.
- Educational Background: A graduate of Oakland City University, Jamie's solid educational foundation combined with her extensive industry experience positions her appointment as a significant step for Gray Media in enhancing the competitiveness of local television stations.
See More
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See More
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- Completion of Asset Swap: Gray Media has finalized a cash-free asset exchange with E.W. Scripps Company, involving television stations across five mid-sized and small markets, marking the execution of their agreement announced in July 2025.
- Market Expansion: Gray Media acquired WSYM (Fox) in Lansing, Michigan, and KATC (ABC) in Lafayette, Louisiana, further solidifying its influence in these markets while enhancing its market share in Louisiana.
- Counterparty Analysis: Scripps acquired KKTV (CBS) in Colorado Springs and several other stations, indicating its strategic intent to strengthen its presence in Colorado and Idaho, thereby enhancing its competitive positioning.
- Increased Market Coverage: As of May 15, 2026, Gray Media serves 117 full-power television markets, reaching approximately 37% of U.S. television households, further solidifying its status as the largest owner of local television stations and digital assets in the nation.
See More
