Nov. 26 at 4:58 PM
$GTN New Deep Value Report Updated – Part II (GTN)
Today we’re reopening the file on Gray Television (GTN). Part II of our Deep Value Report is now live, updated for Q3 2025. We go through the balance sheet like a buyer, not an accountant: splitting good intangibles (FCC licences) from bad goodwill, putting a real number on Assembly Atlanta, mapping the debt discount, and rebuilding a 25 / 40 / 53 Deep Value Book Value per Share range.
We also plug GTN into the live SSP / Sinclair bid to see what the market is really willing to pay for these assets. If you care about hidden asset value and distressed optionality, this one is for you.
https://cundilldeepvalue.substack.com/p/deep-value-report-gray-television
$SSP $NXST $TGNA