Robin Davis has been named the new senior vice president, chief distribution officer for The E.W. Scripps Company. Robin Davis has been named the new senior vice president, chief distribution officer for The E.W. Scripps Company. Davis has been with Scripps since 2005, holding a variety of strategy and finance leadership positions. Her most recent role was senior vice president for strategy, planning and development, where she was responsible for implementing growth strategies across the business as well as ...

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, 2024 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 2024 Earnings Conference Call May 10, 2024 9:30 AM ET Company Participants Carolyn Micheli – Head-Investor Relations Jason Combs – Chief Financial Officer Adam Symson – President and Chief Executive Officer Lisa Knutson – Chief Operating Officer Conference Call Participants Dan Kurnos – Benchmark Steven Cahall – Wells Fargo Michael Kupinski – NOBLE Capital Markets Craig Huber – Huber Research Partners Operator Thank you, everyone, for standing by and welcome to the S ...

From Scripps President and CEO Adam Symson: May 9, 2024 CINCINNATI – The E.W. Scripps Company (NASDAQ: SSP) delivered $561 million in revenue for the first quarter of 2024. Loss attributable to the shareholders of Scripps was $12.8 million or 15 cents per share. Operating results for the quarter include a pre-tax investment gain of $18.1 million and $5 million of restructuring costs. Business notes: Exhibit 99.1 Scripps reports Q1 2024 financial results "In the first quarter, we were pleased to deliver stro ...

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, 2023 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 2023 Earnings Conference Call February 23, 2024 9:30 AM ET Company Participants Carolyn Micheli - Investor Relations Adam Symson - President & Chief Executive Officer Jason Combs - Chief Financial Officer Lisa Knutson - Chief Operating Officer Conference Call Participants Daniel Kurnos - The Benchmark Company Steven Cahall - Wells Fargo Craig Huber - Huber Research Partners Jeffrey Peskind - Phoenix Michael Kupinski - NOBLE Capital Markets Operator Thank you for sta ...

Business notes: From Scripps President and CEO Adam Symson: Exhibit 99.1 Scripps reports Q4 2023 financial results Feb. 23, 2024 CINCINNATI — The E.W. Scripps Company (NASDAQ: SSP) delivered $616 million in revenue for the fourth quarter of 2023. Loss attributable to the shareholders of Scripps was $268 million or $3.17 per share. A non-cash goodwill impairment charge and restructuring costs for the quarter accounted for $3.15 of the per-share loss. "Our fourth-quarter results reflect improvement in the adv ...

PART I - Financial Information [Financial Statements](index=7&type=section&id=Item%201.%20Financial%20Statements) Unaudited consolidated financial statements for Q3 2023 show a net loss and decreased assets due to goodwill impairment, and declining operating cash flow [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased significantly by September 2023, primarily due to a goodwill impairment, leading to a substantial reduction in total equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $15,852 | $18,027 | | Goodwill | $2,234,574 | $2,920,574 | | **Total Assets** | **$5,688,073** | **$6,431,005** | | Long-term debt (less current portion) | $2,908,390 | $2,853,793 | | **Total Liabilities** | **$4,271,398** | **$4,300,180** | | Retained earnings (deficit) | ($379,036) | $350,715 | | **Total Equity** | **$1,416,675** | **$2,130,825** | [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company reported a **$692 million** net loss for the nine months ended September 30, 2023, primarily due to a **$686 million** goodwill impairment charge Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Total operating revenues | $1,677,143 | $1,772,274 | | Operating income (loss) | ($551,652) | $264,287 | | Impairment of goodwill | $686,000 | $0 | | Net income (loss) | ($692,022) | $110,353 | | Net income (loss) per diluted share | ($8.67) | $0.80 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly decreased to **$49.1 million** for the nine months ended September 30, 2023, from **$196.3 million** in the prior year Condensed Consolidated Statements of Cash Flows Highlights (in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash provided by operating activities | $49,137 | $196,277 | | Net cash used in investing activities | ($44,731) | ($55,183) | | Net cash used in financing activities | ($6,581) | ($203,351) | | Decrease in cash, cash equivalents and restricted cash | ($2,175) | ($62,257) | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail a **$29.2 million** restructuring charge, a **$686 million** goodwill impairment, and the company's **$2.9 billion** long-term debt structure - In January 2023, the company initiated a strategic restructuring, anticipating at least **$40 million** in annual savings, with costs totaling **$29.2 million** for the first nine months of 2023[65](index=65&type=chunk)[66](index=66&type=chunk) - A **$686 million** non-cash goodwill impairment charge was recognized in Q2 2023 for the Scripps Networks reporting unit, driven by softness in the national advertising market and declining linear TV viewership[79](index=79&type=chunk)[81](index=81&type=chunk) - On July 31, 2023, the company paid off the remaining **$283 million** principal balance of its 2024 term loan using borrowings from its revolving credit facility[85](index=85&type=chunk)[98](index=98&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a challenging operating environment with a **5.4%** revenue decline, a **$686 million** goodwill impairment, and a restructuring plan for **$40 million** in annual savings [Executive Overview](index=28&type=section&id=Executive%20Overview) The company focuses on local TV and national networks, launched Scripps Sports, initiated a restructuring for **$40 million** in annual savings, and recorded a **$686 million** goodwill impairment - A strategic restructuring announced in January 2023 aims to create a leaner operating structure and is anticipated to result in at least **$40 million** in annual savings[125](index=125&type=chunk) - The company launched Scripps Sports to leverage its broadcast reach for partnerships, securing multi-year agreements with the WNBA, Vegas Golden Knights, and Arizona Coyotes[124](index=124&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk) - Due to softness in the national advertising market and declining linear TV viewership, the company recorded a non-cash goodwill impairment charge of **$686 million** for its Scripps Networks business in Q2 2023[130](index=130&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Consolidated revenue for the first nine months of 2023 fell **5.4%** to **$1.68 billion**, primarily due to lower advertising, resulting in a **$551.7 million** operating loss Consolidated Results of Operations (in thousands) | Metric | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Operating revenues | $1,677,143 | $1,772,274 | (5.4)% | | Operating income (loss) | ($551,652) | $264,287 | N/A | | Net income (loss) | ($692,022) | $110,353 | N/A | - The revenue decrease was driven by a decline in political revenues of **$80.0 million** and lower core advertising, partially offset by a **$61.1 million** increase in Local Media distribution revenues following contract renewals for **75%** of subscriber households[134](index=134&type=chunk) - Interest expense increased by **$43.6 million** for the nine-month period due to higher year-over-year interest rates on variable debt borrowings[139](index=139&type=chunk) [Business Segment Results](index=32&type=section&id=Business%20Segment%20Results) Local Media segment profit fell **14.1%** due to political advertising decline, while Scripps Networks profit decreased **29.9%** from a **7.1%** revenue drop Segment Profit (Loss) (in thousands) | Segment | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Local Media | $201,725 | $234,742 | (14.1)% | | Scripps Networks | $161,530 | $230,357 | (29.9)% | - Local Media's performance was impacted by an **82.2%** decrease in political advertising revenue year-to-date, partially offset by a **12.3%** increase in distribution revenue from new agreements[149](index=149&type=chunk)[150](index=150&type=chunk) - Scripps Networks revenue decreased **7.1%** year-to-date due to macroeconomic challenges impacting national advertiser budgets and a decline in linear television viewership[154](index=154&type=chunk)[155](index=155&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is sourced from operations and a revolving credit facility, with **$15.9 million** cash and **$238 million** borrowing capacity, despite decreased operating cash flow - As of September 30, 2023, the company had **$15.9 million** of cash on hand and **$238 million** of additional borrowing capacity under its revolving credit facility[159](index=159&type=chunk) - Net cash provided by operating activities decreased by **$147 million** in the first nine months of 2023 compared to 2022, driven by lower segment profit and higher interest payments[161](index=161&type=chunk) - The company amended its credit agreement, increasing the Revolving Credit Facility to **$585 million**, and was in compliance with its maximum first lien net leverage ratio covenant of **5.0 to 1.0** as of September 30, 2023[164](index=164&type=chunk)[166](index=166&type=chunk)[90](index=90&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate risk from variable-rate debt; a **100 basis point** SOFR increase would raise annual interest expense by **$16.2 million** - The company is subject to interest rate risk on its variable-rate debt; a **100 basis point** increase in SOFR would increase annual interest expense by approximately **$16.2 million**[179](index=179&type=chunk) Debt Fair Value vs. Carrying Value (in thousands) | Metric | As of September 30, 2023 | | :--- | :--- | | Long-term debt, including current portion (Cost Basis) | $2,964,822 | | Long-term debt, including current portion (Fair Value) | $2,565,051 | [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures are effective, with no material changes to internal controls over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[183](index=183&type=chunk) - No material changes were made to the company's internal controls over financial reporting during the quarter[184](index=184&type=chunk) PART II - Other Information [Legal Proceedings](index=3&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation and regulatory proceedings, none of which are expected to result in a material loss - The company is involved in ordinary course litigation and regulatory proceedings, none of which are expected to have a material adverse effect[12](index=12&type=chunk) [Risk Factors](index=3&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K have occurred - No material changes to the risk factors disclosed in the 2022 Form 10-K have occurred[13](index=13&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 did not conduct any sales of unregistered equity securities during the quarter ended September 30, 2023 - There were no sales of unregistered equity securities in the third quarter of 2023[14](index=14&type=chunk) [Other Information](index=4&type=section&id=Item%205.%20Other%20Information) Brian Lawlor, President of Scripps Sports, adopted a Rule 10b5-1 trading plan for the potential sale of up to **90,000** Class A common shares - Brian Lawlor, President of Scripps Sports, adopted a Rule 10b5-1 trading plan for the potential sale of up to **90,000** Class A common shares[17](index=17&type=chunk)

The E.W. Scripps Company (NASDAQ:SSP) Q3 2023 Earnings Conference Call November 3, 2023 9:30 AM ET Company Participants Carolyn Micheli - Investor Relations Adam Symson - President & Chief Executive Officer Jason Combs - Chief Financial Officer Lisa Knutson - Chief Operating Officer Conference Call Participants Dan Kurnos - Benchmark Steven Cahall - Wells Fargo Nick Zangler - Stephens Michael Kupinski - NOBLE Capital Markets Craig Huber - Huber Research Partners Operator Ladies and gentlemen, thank you for ...

The E.W. Scripps Company (NASDAQ:SSP) Q2 2023 Earnings Conference Call August 4, 2023 9:30 AM ET Company Participants Carolyn Micheli - EVP, Chief Communications & IR Officer Adam Symson - President, CEO & Director Jason Combs - EVP & CFO Lisa Knutson - COO Conference Call Participants Daniel Kurnos - The Benchmark Company Steven Cahall - Wells Fargo Securities Michael Kupinski - NOBLE Capital Markets Craig Huber - Huber Research Partners Operator Ladies and gentlemen, thank you for standing by, and welcome ...