GTN - Comprehensive Filing Intelligence

FY 2025•10-K•Filed Feb 26, 2026
4.0/10
Filing Health:CAUTION

Notable concerns that warrant closer review

Executive Summary

The company holds a dominant market position as the largest owner of top-rated local TV stations and digital assets in the US.. Leverage ratios are within permitted limits, indicating the company is managing its debt obligations appropriately.. Significant purchase obligations exist, with $400 million due in 2028 related to accounts receivable securitization.. Broadcasting segment revenue decreased by 16% year-over-year.

Top Concerns

  • !Revenue experienced a year-over-year decline in 2025, impacted by seasonality and concentration in industries like services and automotive.
  • !Significant impairment charge recognized for one broadcast license in 2025, indicating potential overvaluation or market deterioration.
  • !Large increase in goodwill and broadcast licenses balance due to acquisitions and revaluation, increasing susceptibility to future impairments.
  • !Significant purchase obligations exist, with $400 million due in 2028 related to accounts receivable securitization.
  • !The company is involved in 'In re Local TV Advertising Litigation' due to prior acquisitions, facing allegations of price fixing.

Analysis Dimensions

Our 5-pass AI analysis examines this filing across multiple dimensions. Each dimension score is derived from direct analysis of SEC filing text.

Narrative Intelligence

6.0/10

Management tone is balanced.

Full analysis includes: tone changes vs prior quarter, margin driver breakdown, forward guidance analysis, strategic priorities.

Accounting Quality

6.0/10

Earnings quality shows moderate accounting practices.

Full analysis includes: reserve and allowance changes, non-recurring item analysis, stock-based compensation impact, disclosure concerns.

Hidden Liabilities

Off-balance sheet risk is moderate with $532M in identified exposure.

Full analysis includes: cloud and purchase commitments, VIE/SPE exposure, covenant compliance status, refinancing risk assessment.

Risk Landscape

3.0/10

Overall risk profile shows competitive risk from digital and streaming platforms as primary concern.

Full analysis includes: 8 risk categories with severity, new vs escalated risks, management response assessment, risk trend analysis.

Segment Performance

4.0/10

Segment health analysis shows Broadcasting as strongest performer while Other lags.

Full analysis includes: segment-by-segment revenue breakdown, geographic concentration risk, customer concentration analysis, segment margin trends.