you, Thank Kevin.
revolver, to first and Jim today's release, the that retirement Ryan of Gray's earnings to days A upcoming would Chief want new few years. plan XXXX. the refinancing XX successful later turning position that address of after our step a this as ago, summer. Before the me transition CFO notified from completion like to time of after he I down upsizing And to Financial his transition Officer part to into in for the
a multimedia job Gray that Jim and television job were previous As end take acquisitions to Jim many where as out is CFO its team management of Broadcasting, that he we divested as have impressed and build industry. Busse negotiated our process, negotiated run of the highest Jim waves and stations and Gray in instrumental leading his CFO. of him of have know, provided leadership has the significant company publishing had to himself X the company decided And as the served of combined the entire in it on in almost offer during you that XXXX of today. And into we agreed.
He company. steady embarked our the happily, been he really a quality very upon over joined that helping to so and we acquisition also to assets
he Janiak, hiring Jim's and will miss his Securities.
Ray's XX-year a have of in fortunate transactions veteran is, Fargo very company have therefore, finance as next at candidate telecom Wells many to or the and succeeded over leadership perfect who well knows He our we transactions Jeff banking as already Jeff are become closely we to and media worked is with not our here. successor teams working CFO. contributions and day-to-day all almost most While logical anyone
the like family. I'd welcome Gray So to Jeff to Television
Turning now in nearly that to It earnings to Television release. clear measure. our should delivered Gray every by all be XXXX
year and before Our advertising core over prior XXXX, the our business to the revenues to score over cycle.
Meanwhile, our continue bring increased and retrans local our with increased television to our platforms. digital political new stations airwaves a year advertising and presidential audiences to revenue last
Atlanta. successful more we outside half year, reached its studios recognitions collected also service. substantial at assembly community and stations state-of-the-art awards news from commenced stages Assembly Atlanta. In NBCUniversal long-term and here our lease in of of television completion And in facility the their sound Our investigations second organization our X/X in production for of moving December, the for
for our guidance. operating for was achievements a cycle. $XXX company quarter XX% XXXX, which the we the or will quarter.
Fourth ahead foundation the our most in The of had below revenue by of was XXXX, had expenses election fourth these low powered presidential end Gray we year. revenue XXXX, total million, further significant our total nonpolitical which $XXX have of million, expense at million laid the was quarter another recent XXXX, strong With end be of of In high $XXX believe of guidance revenue which
and the attributable of increase fourth part $XX out X% to Retransmission investments, XXXX quarter was a $XXX posted of core in write-downs noncash in Gray from fourth not revenue to grow revenue million, to XXXX.
Unfortunately, million, but net XXXX. of quarter was pan of consent due do 'XX stockholders advertising the investments ship increase loss of certain fourth always of fourth $XXX our quarter common diversify an an the from company million. quarter Our X%
which pretax also about such to the weeks with initiatives other position.
Operationally, investments in awards in fourth of long and leverage can pay not X payoff held proceeds assets a the On we our ago And from be a tremendous a when unique BMI, quarter, hand, growth. indeed, multiple of receipt content we the do only in the had off, $XXX have for million sales tremendous. future in we sale but saw
fact, continues advertising strong. In to be local significant direct new focus business very our on developing
During the fourth new ad we grew continued our and quarter, local XX%, XXXX. has direct momentum that by revenue into
to another NBC In addition, close, extended drew with X year as the affiliation our agreement for we years.
most X of deal our long-term Eve. our professional top summer the extensive Phoenix markets with are storied at television. our exciting broadcast previously Mercury, long-term that relationship announce professional efforts literally, with happy free of teams to to over Year's bring efforts continues.
The franchises After in involve Suns sports over-the-air aggressive We to able initiatives this and fall, end deals the on were New announced year, the the we and major sports back
Friday First, TV XXXX-XXXX almost nearly the away every in Peachtree season. after NBA the returned years Atlanta in XX game Atlanta for Hawks night remaining to
Thereafter, true carrying our would channel in their we this these New the significantly, fans X Orleans all their games broadcast games NBA fans are. that in supported of York Pelicans both we and of followed up with the the New on all by season of have announcement of balance our teams have stations where Orleans.
But cases, in WBUE New Gray's
begun of Alabama.
Gray Mississippi managers XXXX and state and we for Pelicans are of even about great entire momentum. our part our ahead. hosted are Louisiana meeting, with Hawks in great the a broadcast throughout universally the of half state the and broadcast station Georgia January, excited across year most has and In and are Alabama, annual the general So good of they the
announced deals the We to Oklahoma with weeks Bucks. the sign games few have Gray Cleveland and Thunder, continued stations, sports up new bring the in Cavaliers, the contracts to featuring Milwaukee last professional City
a this over capitalized Bowl our XXXX.
We postpone with of Bowl CBS our us weeks, led to did, increase significantly, a however, of that loan consent its $XX markets us bank us as Gray unique that MVPDs in credit launch to an a to increase our last last recently, enduring the stations over XXXX.
These Bowl the revenue all refinance Super stations.
Most broadcast our our sales. improved renewed and station strongly has $XXX renewals FOX several January terms good continue was rates That Super what local to with larger a in recognize also unexpected our revolver also portion expiring portfolio. refinanced retransmission CBS on fourth and XXX% facility across on of XX% agreements value sizable opportunity the and truly subscriber new it Earlier base successfully facilities. cover past a month, in totaling our provide. our with of portfolio higher the and that revolving million process year Super with and represents ad at our the Unfortunately, quarter a capital of expired we with of local to our But net provide Over stood term million. credit certain regard took effort they advantage senior terminal
not with needed. in deep the cited if company Although their and reduce appreciate us additional efforts when and We support will of have future understanding flexibility on unwavering and company do to our business our much our facility, grow any currently it provide and revolving amounts credit we bank's load. our and drawn the of very the continuing
our ahead future. prospects XXXX, look to and I remain bullish now we very As about our
local their teams us promotional Our will for on viewers and these advertisers see are to already offer which absolute television and game. what of the audience. build local of that opportunities free foundations viewing stations is continue the to for our to rediscovering perform reach unparalleled our at continued continue XXX% success. stations top XXXX Sports know,
its netted nature about for they of gratifying a on and $XX now tradesmen to facilities Assembly about here complex of net certain -- have able to from about require or extremely we proud the putting major million sound about very center These stages projects. is additional and in relying support for studio see against NBCU contractors, content into finest movie our of us local Atlanta just infrastructure television public months these the leverage productions. I'm class reimbursements infrastructure will to date be NBCUniversal, and million the the XX to on $XX Finally, will new in materials, expenditures, finishing By capital a projects Atlanta. by projects XXXX, production creator, but $XX announcement.
In the the in we touches in complex created facilities major that deliver be will we the buildings nation's were at the million.
It and
our concludes stages turn Atlanta.
This On the my Assembly work third are remarks, call we to here sound at bring the we gray actively at retained side, as stages our have production over rail adjacent will Ryan. additional now to I the well marketing sound pre-existing that to and studios as Jim
