Gray Media Group Inc. announced plans to issue $750 million in senior secured notes as part of its broader capital-raising strategy.
The offering aims to refinance existing debt and support operational liquidity, the company said in a regulatory filing. Proceeds will also be used to fund potential acquisitions and general corporate purposes, including technology investments to enhance digital capabilities.
Gray Media, which operates a portfolio of television stations across the U.S., has faced pressure from declining advertising revenue and shifts in media consumption habits. The company has pursued consolidation in recent years, including the acquisition of stations from other broadcasters to expand its reach.
The senior secured notes will rank ahead of existing unsecured debt in the capital structure, providing lenders with additional security. Terms of the offering, including interest rates and maturity dates, were not disclosed in the filing. The company plans to use proceeds from the notes to repay outstanding borrowings under its revolving credit facility.
Gray Media did not specify a timeline for the offering but noted that it would proceed subject to market conditions and regulatory approvals. The move follows similar capital-raising efforts by peers in the broadcasting sector as companies adapt to evolving media landscapes.
