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Gray Media vs E.W. Scripps: GTN and SSP compared
Gray Media is the larger company: $972M of revenue in its latest quarter (Q3 2026) against $545M for E.W. Scripps (Q3 2026). Gray Media is growing faster (+30% against +4% a year earlier). Gray Media is more profitable, with an operating margin of 27.4% against 12.3%.
Where the money goes: GTN and SSP
Gray Media (GTN) · Q3 2026
Gray Media, Q3 2026: revenue $972M (+30% year over year), operating margin 27.4%, net earnings $78.0M, operating cash flow $134M. The chart follows the revenue to costs, profit and cash.
E.W. Scripps (SSP) · Q3 2026
E.W. Scripps, Q3 2026: revenue $545M (+4% year over year), operating margin 12.3%, net earnings $37.7M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
| Gray Media (GTN) | E.W. Scripps (SSP) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $972M | $545M |
| Revenue growth, Y/Y | +30% | +4% |
| Operating margin | 27.4% | 12.3% |
| Net earnings | $78.0M | $37.7M |
| Net margin | 8.0% | 6.9% |
| Operating cash flow | $134M | $132M |
| Free cash flow | $99.0M | $120M |
| Market value | $492M | $299M |
| P/E | 7.9× | — |
| Analysts’ mean target | $6.50 | $4.93 |
Where the revenue comes from
Gray Media
- Advertising: $556M (57%)
- Retransmission Consent: $366M (38%)
- Production Companies: $34.0M (3%)
- Service, Other: $16.0M (2%)
E.W. Scripps
- Advertising: $357M (65%)
- Distribution: $181M (33%)
- Other: $7.0M (1%)
Questions
Which is bigger, Gray Media or E.W. Scripps?
Gray Media is the larger company: $972M of revenue in its latest quarter (Q3 2026) against $545M for E.W. Scripps (Q3 2026).
Is Gray Media or E.W. Scripps growing faster?
Gray Media is growing faster (+30% against +4% a year earlier).
Which is more profitable, Gray Media or E.W. Scripps?
Gray Media is more profitable, with an operating margin of 27.4% against 12.3%.
More: Gray Media earnings · how Gray Media makes money · E.W. Scripps earnings · how E.W. Scripps makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.