Gray Media, Inc.

Good day, everyone, and thank you for joining us for this Gray Media Q4 2025 earnings release call. As a reminder, all phone participants are in a listen-only mode, but you are invited to signal for a question by pressing star followed by the digit 1 on your telephone keypad. Also, today's meeting is being recorded. For opening remarks and introductions, I am pleased to turn the floor over to Chairman and CEO, Mr. Hilton Howell. Welcome, sir.

Thank you, operator. Good morning, everyone. As the operator mentioned, this is Hilton Howell, and I'm chairman and CEO of Gray Media, and I want to thank all of you for joining our fourth quarter 2025 earnings call. As usual, all of our executive officers are here with me in Atlanta. Pat LaPlatney, our president and co-CEO, Sandy Breland, our chief operating officer, Kevin Latech, our chief legal and development officer, and Jeff Gignac, our chief financial officer. And joining us for the first time is Alan Gould, our newly appointed Vice President of Investor Relations, who many of you know from his prior role as a sell-side analyst. Alan joined us in December, and we are thrilled to have him on board and believe his insights will help us better engage with investors at a time when much is changing in our business. So we will begin with a disclaimer that Alan will provide.

Thank you, Elton. Good morning, everyone. I want to say how thrilled I am to join Gray and work with this outstanding team. After many years as a sell-side analyst covering the media industry, I have tremendous respect for what Gray has built in the strategic direction Hilton and the team are charting. Today we filed with the SEC our Form 8K, our fourth quarter earnings release, and updated slides. And later today we will file with the SEC our annual report on 10K. These materials are all available on our website, which is www.graymedia.com. Included on the call may be discussion of non-GAAP financial measures, and in particular adjusted EBITDA, leverage ratio denominator, net retransmission revenue, and certain leverage ratios. These metrics are not meant to replace GAAP measurements, but are provided as supplements to assist the public in its analysis and evaluation of our company. Further discussions and reconciliations of the company's non-GAAP financial measures to comparable GAAP financial measures can be found on our website. All statements and comments made by management during this conference call, other than statements of historical fact, should be deemed forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties. Actual results in the future could differ from those described in the forward-looking statements as a result of various important factors that are contained in our most recent filings with the SEC. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. I now return the call to Hilton.