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The latest update is out from Gray Television ( (GTN) ).
On March 26 and May 1, 2026, Gray Media, Inc. completed a series of station acquisitions from Byron Allen’s Allen Media Group, paying a total of $171 million plus working capital adjustments funded with cash on hand. The deals brought Gray new stations in Columbus-Tupelo, Terre Haute, West Lafayette and seven additional markets across Alabama, Kentucky, Missouri, Illinois, Indiana, and Louisiana.
The transactions expand Gray’s presence into three new markets and deepen its position in seven overlapping markets, reinforcing its strategy of owning top-rated local affiliates in key regional hubs. Gray also secured an SEC waiver allowing it to submit an audited statement of assets acquired and liabilities assumed instead of full historical and pro forma financials, streamlining reporting around the acquisition while it integrates the newly purchased stations into its portfolio.
The most recent analyst rating on (GTN) stock is a Buy with a $6.50 price target. To see the full list of analyst forecasts on Gray Television stock, see the GTN Stock Forecast page.
Spark’s Take on GTN Stock
According to Spark, TipRanks’ AI Analyst, GTN is a Neutral.
GTN scores mid-range primarily due to weakening TTM fundamentals (revenue decline, return to losses, and sharply lower free cash flow) alongside elevated leverage. Offsetting this are a reasonably constructive technical backdrop, an attractive dividend yield, and an earnings-call outlook that highlights improving strategic/operational execution (digital and political tailwinds, retransmission risk reduction, and strong liquidity) despite near-term ad softness.
To see Spark’s full report on GTN stock, click here.
More about Gray Television
Gray Media, Inc. is a U.S. multimedia company headquartered in Atlanta and the nation’s largest owner of top-rated local television stations and digital assets, serving 117 full-power television markets that reach about 37% of U.S. TV households. Its portfolio includes leading-rated stations in most of its markets, the largest Telemundo affiliate group in 47 markets, Gray Digital Media’s marketing services, multiple video production companies, and studio facilities in Atlanta.
The company’s assets span broadcast, cable and digital platforms, including local TV, Spanish-language affiliates, and specialized production studios, positioning Gray as a major player in local news, sports, and entertainment content. This broad footprint supports both national and local advertisers while diversifying revenue streams across traditional broadcasting and high-growth digital media services.
Average Trading Volume: 1,361,783
Technical Sentiment Signal: Buy
Current Market Cap: $624.3M
For a thorough assessment of GTN stock, go to TipRanks’ Stock Analysis page.