Why Gray Television (GTN) Shares Are Trading Lower Today

Shares of local television broadcasting and media company Gray Television (NYSE:GTN) fell 5.3% in the afternoon session after the company announced an agreement to increase its Term Loan G by $75 million and issued a conditional notice to redeem $150 million of its 2029 senior secured notes. Gray is using the new borrowing, plus cash on hand, to keep reshaping its debt. According to the company’s release, the $75 million is a delayed draw on the term loan due July 15, 2030, on the same terms as