Update shared on30 Jul 2025
Fair value Increased 5.09%Despite improved revenue growth forecasts for Gray Media, a substantial increase in the projected future P/E ratio has led to a lower consensus price target, now revised down to $5.10.
What's in the News
- Gray Media entered into a partnership naming its affiliates in Knoxville, Nashville, and Memphis as the Official Television Stations of the Tennessee Volunteers, launching the Tennessee Valley Sports Network to deliver expanded, free over-the-air coverage of Tennessee Athletics, with plans for further market expansion and additional sports programming through 2028.
- Updated Q2 2025 total revenue guidance to a range of $769 million to $775 million.
- Extended its broadcast partnership with the New Orleans Saints and WVUE for five years through the 2029 NFL season, including exclusive preseason and regular-season Saints content across 15 stations and the Gulf Coast Sports and Entertainment Network, plus new co-produced programming and an NFL Films documentary.
- Renewed 52 of 53 CBS affiliate agreements, securing continued local and platform distribution; Atlanta's WANF station will shift from CBS affiliation to an independent channel focused on the local Atlanta market starting August 16, 2025.
Valuation Changes
Summary of Valuation Changes for Gray Media
- The Consensus Analyst Price Target has fallen from $5.63 to $5.10.
- The Consensus Revenue Growth forecasts for Gray Media has significantly risen from -3.5% per annum to -1.0% per annum.
- The Future P/E for Gray Media has significantly risen from 2.91x to 4.97x.
Disclaimer
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