Financial Data and Key Metrics Changes - In Q1 2022, the company's free cash flow was three times higher than the comparable quarter in 2020 [10] - The company expects free cash flow for the year to be between $400 million and $450 million, representing the highest amount since the spin-off of cable networks in 2008 [27][23] Business Line Data and Key Metrics Changes - Local Media core advertising revenue increased by 3.4%, with total revenue up 4.5% due to strong sales execution and retransmission revenue growth [20] - Scripps Networks revenue for Q1 2022 was $239 million, an increase of 8.5% from the prior year, while segment expenses rose by 23% [21] Market Data and Key Metrics Changes - Political ad revenue in Q1 was approximately $6 million, about 70% higher than the first quarter of 2018 [20] - The company reported a significant increase in pay TV subscriber households and lower churn year-over-year [14] Company Strategy and Development Direction - The company is focused on an "all of the above" strategy, leveraging both traditional and connected TV platforms to meet consumer demands [11] - Scripps is investing in the transition to ATSC 3.0 NextGen TV, positioning itself as a leader in broadcast spectrum monetization [15] Management's Comments on Operating Environment and Future Outlook - Management anticipates a record-breaking national political spending season, contributing to expected free cash flow growth [17] - The company is optimistic about capturing a significant share of political ad spending, with projections of $270 million in revenue from its footprint [35] Other Important Information - The company is experiencing a shift in advertising booking patterns, with clients booking closer to air time due to supply chain issues [104] - Scripps Networks is producing the National Spelling Bee in-house for the first time, expanding audience reach and retaining advertising revenue [44] Q&A Session Summary Question: Outlook for 2Q core ad revenue for TV stations - Management expects core ad revenue to be about flattish compared to a year ago [54] Question: Performance of the auto category - The auto category was down over 20% in Q1, with expectations for improvement in the second half of the year [55] Question: Impact of sports betting on advertising - The timing of sports betting legalization affects advertising spending, with aggressive initial spending followed by a moderation phase [57] Question: Signs of recession in markets - Management does not sense a recession but acknowledges challenges from supply chain and labor shortages [60] Question: Recovery signs in the advertising market - Early May shows a slight pickup in advertising activity compared to the end of Q1 [65] Question: Direct response advertising trends - Direct response advertising remains strong, with a mix of general market and direct response around 50% each [93] Question: Performance of Newsy - Newsy's CTV viewership is up 40% year-over-year, with a focus on quality journalism [99] Question: Local advertising visibility - There is less visibility in local advertising bookings, with clients booking closer to air time [104]

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, 2022 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) Q4 2021 Earnings Conference Call February 25, 2022 9:30 AM ET Company Participants Carolyn Micheli - Head, IR Adam Symson - President and CEO Jason Combs - CFO Brian Lawlor - Local Media, President Lisa Knutson - Scripps Networks, President Conference Call Participants Daniel Kurnos - The Benchmark Company Craig Huber - Huber Research Partners Michael Kupinski - Noble Capital Markets Steven Cahall - Wells Fargo Keith Smith - Bonhoeffer Capital Operator Ladies and gentle ...

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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Securities registered pursuant to Section 12(g) of the Act: None Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a ...

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 ...