THE E.W. SCRIPPS COMPANY BANK OF AMERICA CONFERENCE NOV. 30, 2021 SAFE HARBOR DISCLOSURE This document contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. Such fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-10701 THE E.W. SCRIPPS COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

The E.W. Scripps Company (NASDAQ:SSP) Q3 2021 Results Conference Call November 5, 2021 9:30 AM ET Company Participants Carolyn Micheli - Investor Relations Adam Symson - President and Chief Executive Officer Jason Combs - Chief Financial Officer Brian Lawlor - Local Media President Lisa Knutson - Scripps Networks President Dan Perschke - Controller Conference Call Participants Dan Kurnos - Benchmark Company Michael Kupinski - Noble Capital Markets Steven Cahall - Wells Fargo John Janedis - Wolfe Research Cr ...

The E.W. Scripps Company (NASDAQ:SSP) Q2 2021 Earnings Conference Call August 6, 2021 9:30 AM ET Company Participants Carolyn Micheli - Investor Relations Adam Symson - President and Chief Executive Officer Jason Combs - Chief Financial Officer Brian Lawlor - President, Local Media Lisa Knutson - President, Scripps Networks Dan Perschke - Controller Conference Call Participants Steven Cahall - Wells Fargo John Janedis - Wolfe Research Dan Kurnos - Benchmark Mike Kupinski - Noble Capital Markets Craig Huber ...

[PART I - Financial Information](index=3&type=section&id=PART%20I%20-%20Financial%20Information) [Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) Unaudited statements for the six months ended June 30, 2021, show significant balance sheet growth and a return to profitability driven by the ION Media acquisition [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $6.56 billion as of June 30, 2021, primarily due to goodwill and intangible assets from the ION acquisition Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$6,562,199** | **$4,859,386** | | Cash and cash equivalents | $85,956 | $576,021 | | Goodwill | $2,921,197 | $1,203,212 | | Other intangible assets | $1,956,015 | $975,444 | | **Total Liabilities** | **$4,711,460** | **$3,696,121** | | Long-term debt (less current portion) | $3,243,270 | $2,923,359 | | **Total Equity** | **$1,850,739** | **$1,163,265** | [Condensed Consolidated Statements of Operations](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenues surged 57.5% year-over-year to $565.1 million for the three months ended June 30, 2021, driven by the ION acquisition Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | :--- | :--- | | Total operating revenues | $565,077 | $358,883 | $1,105,998 | $773,106 | | Operating income | $104,255 | $1,550 | $161,473 | $22,474 | | Net income (loss) | $5,644 | $(22,043) | $11,211 | $(33,852) | | Net loss attributable to shareholders | $(6,932) | $(22,043) | $(13,008) | $(33,852) | | Net loss per basic share | $(0.09) | $(0.27) | $(0.16) | $(0.42) | [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $90.2 million for the six months ended June 30, 2021, while investing activities used $2.47 billion for the ION acquisition Six Months Ended June 30, Cash Flow Summary (in thousands) | Cash Flow Category | 2021 | 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $90,243 | $74,259 | | Net cash used in investing activities | $(2,470,419) | $(20,985) | | Net cash provided by financing activities | $840,131 | $12,705 | | **Increase (decrease) in cash** | **$(1,540,065)** | **$65,965** | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the $2.65 billion ION Media acquisition, a $13.8 million loss on debt extinguishment, and an $81.8 million gain on the sale of the Triton business - On January 7, 2021, the company completed the acquisition of ION Media Networks, Inc for **$2.65 billion**, financed through cash, debt, and a **$600 million** preferred equity investment from Berkshire Hathaway[66](index=66&type=chunk)[67](index=67&type=chunk) - The ION acquisition resulted in the recognition of **$1.8 billion in goodwill**, largely attributed to synergies and economies of scale[73](index=73&type=chunk) - The company redeemed all outstanding **$400 million** of its 5.125% Senior Unsecured Notes due 2025, resulting in a loss on extinguishment of debt of **$13.8 million**[79](index=79&type=chunk)[106](index=106&type=chunk) - The sale of the Triton business was completed in Q1 2021, generating net proceeds of **$225 million** and a pre-tax gain of **$81.8 million**[79](index=79&type=chunk)[136](index=136&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=32&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the transformative ION acquisition, which drove a 57% consolidated revenue increase in Q2 2021 and strengthened the company's liquidity position [Executive Overview](index=32&type=section&id=Executive%20Overview) The company completed its transformative $2.65 billion acquisition of ION Media, creating a full-scale national television networks business - Completed the acquisition of ION Media Networks, Inc for **$2.65 billion** on January 7, 2021, creating a full-scale national television networks business[141](index=141&type=chunk) - Launched two new national over-the-air networks, TrueReal and Defy TV, on July 1, 2021, reaching **92% of U.S. television homes** at launch[144](index=144&type=chunk) - Announced plans to launch the over-the-top news network Newsy on over-the-air television stations in October, incurring restructuring charges of **$7.6 million**[144](index=144&type=chunk)[145](index=145&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) Consolidated operating revenues grew 57% in Q2 2021, driven by the ION acquisition and a recovery in core advertising Consolidated Operating Results (in thousands) | Metric | Q2 2021 | Q2 2020 | % Change | | :--- | :--- | :--- | :--- | | Operating revenues | $565,077 | $358,883 | 57.5% | | Operating income | $104,255 | $1,550 | 6626.1% | Local Media Segment Results (in thousands) | Metric | Q2 2021 | Q2 2020 | % Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $324,837 | $279,944 | 16.0% | | Segment profit | $64,643 | $35,457 | 82.3% | Scripps Networks Segment Results (in thousands) | Metric | Q2 2021 | Q2 2020 | % Change | | :--- | :--- | :--- | :--- | | Total operating revenues | $238,735 | $66,652 | 258.2% | | Segment profit | $107,317 | $2,153 | 4884.5% | [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with $86.0 million in cash and $393 million available under its revolving credit facility as of June 30, 2021 - Primary liquidity sources are **$86.0 million cash** on hand and **$393 million** of borrowing capacity under the revolving credit facility as of June 30, 2021[180](index=180&type=chunk) - In Q2 2021, the company redeemed the **$400 million** outstanding principal of its 2025 Senior Notes and made an additional **$50 million** principal payment on its 2028 term loan[189](index=189&type=chunk) - The Board authorized a debt repurchase program of up to **$600 million**, expiring March 1, 2023[190](index=190&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate exposure from its variable-rate debt - The company is subject to interest rate risk on its variable-rate borrowings; a **100 basis point increase** in LIBOR would raise annual interest expense by approximately **$8.2 million**[201](index=201&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2021, excluding the newly acquired ION Media business - The CEO and CFO concluded that disclosure controls and procedures are **effective** as of June 30, 2021[206](index=206&type=chunk) - The recently acquired ION Media business was **excluded** from management's report on internal control over financial reporting for the quarter ended June 30, 2021, as permitted by SEC guidance[207](index=207&type=chunk) [PART II - Other Information](index=3&type=section&id=PART%20II%20-%20Other%20Information) [Legal Proceedings](index=3&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation and regulatory proceedings not expected to result in a material loss - The company is not involved in any legal proceedings that are expected to result in a **material loss**[13](index=13&type=chunk) [Risk Factors](index=3&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors disclosed in the company's 2020 Annual Report on Form 10-K have occurred - **No material changes** to risk factors were reported since the 2020 Annual Report on Form 10-K[14](index=14&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=3&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued $600 million in preferred stock and a warrant to Berkshire Hathaway in a private placement - On January 7, 2021, issued **6,000 shares** of series A preferred stock and a warrant to purchase **~23.1 million Class A common shares** to Berkshire Hathaway for **$600 million** in a private placement[15](index=15&type=chunk) - **No shares have been repurchased** under the current **$100 million** authorization, as repurchases are prohibited until all preferred shares issued to Berkshire Hathaway are redeemed[16](index=16&type=chunk) [Defaults Upon Senior Securities](index=3&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities occurred during the quarter ended June 30, 2021 - **No defaults** upon senior securities occurred during the quarter[17](index=17&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-10701 THE E.W. SCRIPPS COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or orga ...

The E.W. Scripps Company (NASDAQ:SSP) Q1 2021 Earnings Conference Call May 7, 2021 9:30 AM ET Company Participants Carolyn Micheli – Head of IR Adam Symson – President and CEO Jason Combs – CFO Lisa Knutson – President, Scripps Networks Division Brian Lawlor – President, Local Media Conference Call Participants John Janedis – Wolfe Research Kyle Evans – Stephens, Inc. Dan Kurnos – Benchmark Company Steven Cahall – Wells Fargo Craig Huber – Huber Research Partners Michael Kupinski – NOBLE Capital Markets Ope ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-10701 THE E.W. SCRIPPS COMPANY (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizat ...

The E.W. Scripps Company (NASDAQ:SSP) Q4 2020 Earnings Conference Call February 26, 2021 9:30 AM ET Company Participants Carolyn Micheli – Head of Investor Relations Adam Symson – President and Chief Executive Officer Jason Combs – Chief Financial Officer Lisa Knutson – President, Scripps Networks Division Brian Lawlor – President, Local Media Conference Call Participants John Janedis – Wolfe Dan Kurnos – Benchmark Steven Cahall – Wells Fargo Kyle Evans – Stephens Michael Kupinski – NOBLE Capital Markets Cr ...

The E.W. Scripps Company at Noble Financial Conference Presented by Scripps EVP/Chief Financial Officer Jason Combs Jan. 20, 2021 SCRIPPS Safe Harbor Disclosure Forward-Looking Statements This document contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual ...