ATLANTA — Gray Media has raised its third-quarter 2026 political advertising revenue guidance to $188 million to $195 million, up from its previous range of $165 million to $185 million.
The broadcaster also lifted the low end of its total revenue guidance to $950 million, with the high end unchanged at $965 million. Gray said the update reflects its most current operating information while it finalizes third-quarter results.
At the midpoint, Gray is now modeling about $192 million in third-quarter political advertising revenue. The company said that estimate includes roughly $9 million tied to recent acquisitions through September 30.
The update is significant for the television business because political advertising is arriving above Gray’s prior expectations in a major election year, while core advertising guidance was adjusted to a range of down 1% to flat.
Sources: Gray Media Form 8-K filed with the U.S. Securities and Exchange Commission and Gray Media press release, September 28, 2026.