What does it mean to be “in the greys”? (Total noob here)

See? Now there you go using that logic again. The content of the newsletter nor it’s value to you (the reader) are the primary focus here. They are just casting a huge email address collection net to see how many sucker-fish they can catch.

Nope. You have it figured out. They won’t “sell” your email address but when they sign an “agreement with a third-party” and part of that agreement is giving them all the email addresses and in return they get a cut of the revenue from the ads. But hey, it still isn’t “selling” right? IT WAS JUST AN AGREEMENT!

It sure does!

What about this part of the new TOS?