Gray Announces Pricing of $750 Million of 7.500% Senior Secured First Lien Notes due 2034 (Form 8-K)

Gray Announces Pricing of

$750 Million of 7.500% Senior Secured First Lien Notes due 2034

Atlanta, Georgia - August 17, 2026. . . Gray Media, Inc. ("Gray") (NYSE: GTN) announced today the pricing of its previously announced private offering of $750 million aggregate principal amount of 7.500% senior secured first lien notes due 2034 (the "Notes"). The Notes were priced at 100% of par. The offering of the Notes is expected to close on August 21, 2026, subject to customary closing conditions.

The Notes are being offered to (i) redeem a portion of Gray's outstanding 10.500% senior secured first lien notes due 2029 (the "2029 Notes"), (ii) repay a portion of outstanding borrowings under Gray's revolving credit facility, and (iii) pay fees and expenses in connection with the offering.

The Notes will be guaranteed, jointly and severally, on a senior secured first lien basis, by each existing and future restricted subsidiary of Gray that guarantees Gray's existing senior credit facility.

The Notes and related guarantees will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in transactions outside the United States under Regulation S of the Securities Act. The Notes have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.