Section 3

§3 — Structure & Entities

Figure 2 · Operating Structure
GRAY MEDIA · NYSE: GTN Parent · public company Third Rail Backbone OPERATING ENTITY · ASSEMBLY ATLANTA STUDIOS NBCU anchor Third Rail stages REAL ESTATE Office · retail · hospitality Leasing · pipeline CID / GOVREL Doraville · DeKalb State · MARTA · DOT FINANCE / LEGAL Capital · tax · audit Contracts · IP · risk OPERATIONS Safety · facilities Events · venue control FOUNDING PRINCIPLE Safety underwrites everything above this line.

Operating structure as of v0.2. Boxes are functions, not legal entities — legal entity register is maintained separately under §3 Structure.

Status: [HOLD — CONTENT FOR OFFICER + GRAY LEGAL REVIEW]

Principle: This section is intentionally not regenerated in this draft. The existing language in the predecessor "Backbone" document was reviewed at the officer level and is held as‑is pending sign‑off on any changes.

3.1 Why this section is held

The corporate structure / entity tree / governance layer for Assembly Atlanta is the most legally sensitive section of this document. It must be confirmed at the officer seat with Gray legal input before any version is published — even internally.

For this draft, the section is preserved as a pointer to the canonical content in the predecessor document and the corporate legal record.

→ Reference: /home/user/workspace/master_doc/source/The_Backbone.md and The_Backbone_enhanced.md — the §3 / Structure & Entities content as originally drafted.

→ Reference: corporate legal records held by Gray legal.

3.2 What §3 will cover when finalized

When the officer seat and Gray legal confirm, this section will include:

  • The campus operating entity tree (legal entities, ownership, governance)
  • Related-party relationships subject to Gray disclosure
  • The relationship of the campus operating entity to Gray Media (NYSE: GTN)
  • Atlantic American / AAME family-entity context (held in §24 appendix as cross-sell-only)
  • Diagram (Appendix A — 01_entity_structure)

3.3 Note for the CEO

If you are reading this in draft form: this section is deliberately not edited pending direct review at the officer seat with Gray legal. Any structural change to entities is an officer‑and‑Gray‑legal decision, not this document's.

This is the cleanest, safest posture for §3 in a CEO-facing first pass.