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    Eli Lapp • BMO Capital Markets

    Eli Lapp is an Equity Research Analyst at BMO Capital Markets specializing in covering the media sector, with a focus on companies such as Gray Television and related broadcasters. He is recognized for his analytical depth in earnings calls and synergy assessment, contributing valuable insights to both clients and media management teams. Lapp’s career at BMO Capital Markets has been marked by robust research output and active industry engagement, though specific performance metrics and prior experience have not been publicly detailed. He holds professional credentials appropriate for his analyst role, including relevant FINRA registrations and securities licenses.

    Eli Lapp's questions to Gray Media Inc (GTN) leadership

    Eli Lapp's questions to Gray Media Inc (GTN) leadership • Q2 2025

    Question

    Eli Lapp of BMO Capital Markets questioned how acquisition size factors into the deleveraging strategy and asked for a timetable for realizing the synergies from the recent deals.

    Answer

    Chairman & CEO Hilton Howell stated the leverage reduction is realized almost immediately upon closing. EVP & CFO Jeff Gignac added that synergies are implemented 'fairly quickly' and that creating duopolies is a less risky, elegant way to add scale. Howell also noted that larger deals are contingent on the future regulatory environment.

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