Core Insights - INNOVATE Corp. reported a consolidated revenue of $274.2 million for Q1 2025, a decrease of 13.0% compared to $315.2 million in Q1 2024, primarily driven by the Infrastructure segment [2][8] - The company experienced a net loss attributable to common stockholders of $24.8 million, or $1.89 per share, compared to a net loss of $17.7 million, or $2.21 per share, in the prior year [2][12] - Adjusted EBITDA for Q1 2025 was $7.2 million, down 43.8% from $12.8 million in Q1 2024, reflecting challenges in both the Life Sciences and Infrastructure segments [2][14] Infrastructure Segment - DBM Global reported Q1 2025 revenue of $264.9 million, a decrease of 14.0% from $307.9 million in the prior year [4][9] - The adjusted backlog for DBM Global increased to $1.4 billion, up from $1.0 billion as of December 31, 2024, indicating strong project acquisition [5][4] - Gross margin improved to 15.6%, an increase of approximately 110 basis points year-over-year, while adjusted EBITDA margin rose to 6.3%, an increase of approximately 40 basis points [4][5] Life Sciences Segment - MediBeacon's Transdermal GFR System received FDA approval, enhancing growth prospects in the Life Sciences segment [3][10] - R2 Technologies reported a revenue of $3.1 million, a 210% increase compared to $1.0 million in the prior year, driven by increased unit sales [10][3] - The Life Sciences segment's adjusted EBITDA was negative at $(8.7) million, a decrease from $(4.2) million in the prior year, primarily due to higher equity method losses from MediBeacon [14][12] Spectrum Segment - The Spectrum segment reported revenue of $6.2 million, slightly down from $6.3 million in the prior year [10][9] - The company is exploring commercial opportunities in datacasting, with expectations to generate revenue by the end of 2025 [10][3] Financial Performance - Total adjusted EBITDA for Q1 2025 was $7.2 million, down from $12.8 million in Q1 2024, primarily due to declines in the Life Sciences and Infrastructure segments [14][12] - The company had cash and cash equivalents of $33.3 million as of March 31, 2025, down from $48.8 million at the end of 2024 [14][30] - The total liabilities increased to $1,036.9 million as of March 31, 2025, compared to $1,034.8 million at the end of 2024 [30][31]

Core Insights - Gray Media and its stations received multiple prestigious awards for journalistic excellence, highlighting their commitment to impactful local journalism [1][4][11] Awards and Recognitions - Sandy Breland, Gray's Executive Vice President and COO, was awarded the 2025 John F. Hogan Distinguished Service Award by the Radio Television Digital News Association for her contributions to journalism [2][3] - Jeff Schlesser, news director at Gray's WWSB, received the 2025 RTDNA Loren Tobia Leadership Award for his leadership in local programming [3] - WANF in Atlanta won first place in the National Headliner Awards for the documentary "In Plane Sight: The Fix," which investigated abuses by Drug Enforcement Task Force Agents [5] - WAVE in Louisville secured third place in the same category for its documentary on the Old National Bank mass shooting [5] - InvestigateTV, Gray's national investigative unit, received second place for its report on automakers' data collection practices [6] - WANF and WVUE in New Orleans were nominated for the 46th annual News & Documentary Emmy Awards for their investigative stories [7][8] - WIBW in Topeka won the 2025 Celebration of Service to America Award for its mental health awareness campaign [9][10] Company Overview - Gray Media, Inc. is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households [12]

Core Points - The E.W. Scripps Company has two local television stations that won Peabody Awards for impactful local investigations [1][4] - WTVF in Nashville won for its investigation "Confronting Hate," focusing on political extremism in Tennessee [1][2] - KNXV in Phoenix won for its video series "Policing Phoenix," which analyzed a U.S. Department of Justice report on the Phoenix Police Department [4][5] Summary by Category Awards and Recognition - WTVF has won its fourth Peabody Award and has received this honor for two consecutive years [3] - KNXV has achieved its fifth Peabody Award, with three of those in the last five years [6] Investigative Reporting - WTVF's investigation led to a criminal probe by the Tennessee Bureau of Investigation into local police misconduct [2] - KNXV's series transformed a 126-page DOJ report into a comprehensive video series, highlighting systemic failures in the Phoenix Police Department [4][5] Company Commitment - Dean Littleton, Scripps' executive vice president, emphasized the importance of local journalism in fostering transparency and integrity [7] - The Peabody Awards are awarded annually to recognize impactful stories that reflect pressing social issues [7]

Financial Data and Key Metrics Changes - Total revenue decreased by 6.4%, and down 3.7% excluding political and Daily Wire impacts, aligning with previous pacing commentary [16] - EBITDA for the quarter was $3,500,000, reflecting ongoing challenges in the advertising market [16] - Digital revenue grew by 6% overall, or 20% excluding the loss of the Daily Wire relationship [16] Business Line Data and Key Metrics Changes - Digital Marketing Services (DMS) revenue increased by 30% in Q1, driven by a 41% increase in total customers and a 16% increase in average campaign order size [7][16] - Podcasting revenue was down 13% when including the Daily Wire, but up nearly 40% when excluding it [9] - Streaming revenue increased by 4% during the quarter, benefiting from in-house sales management [10] Market Data and Key Metrics Changes - Advertising pullbacks were noted in automotive, retail, and consumer packaged goods (CPG) categories, while insurance and financial categories showed growth [11][17] - The Beyond Home market business grew by 48% in the quarter, following a 45% growth in the previous quarter [12] Company Strategy and Development Direction - The company is focusing on digital business growth, particularly in DMS, and leveraging its extensive audience reach to partner with nontraditional parties [5][8] - Cost efficiencies are being pursued, with $7,500,000 in additional annualized fixed cost reductions executed [5][13] - The company is exploring AI applications to enhance operational efficiency and customer service [13][14] Management's Comments on Operating Environment and Future Outlook - The macro environment has become more challenging, with tariffs and government spending cuts impacting consumer demand and advertising spending [4] - Pacing is down approximately 10%, or 5% excluding political and Daily Wire impacts, indicating ongoing economic uncertainty [15][18] - The company remains optimistic about potential FCC deregulation, which could positively affect the industry [26] Other Important Information - The company ended the quarter with $53,000,000 in cash and a net debt of $589,000,000 [18] - The company anticipates asset sales to generate between $10,000,000 to $15,000,000 in proceeds this year [28] Q&A Session Summary Question: Were there any programs or content changes in the network side compared to last year? - The network program did not significantly change, and the decline was driven by general market demand weakness [21][22] Question: Can you provide month-by-month revenue performance for the quarter? - Revenue pacing was down mid-single digits, ending slightly over 6% down due to late advertiser orders [24] Question: What are the implications of FCC deregulation and asset sales? - The company is optimistic about FCC deregulation and expects a notice of proposed rulemaking by late summer [26] - Small asset sales occurred in Q1, with a larger land sale in Nashville anticipated [28]

Financial Data and Key Metrics Changes - Total revenue decreased by 6.4%, and down 3.7% excluding political and the impact of The Daily Wire, aligning with previous pacing commentary [17] - EBITDA for the quarter was $3,500,000, reflecting ongoing challenges in the advertising market [17] - Digital revenue grew by 6% overall, or 20% excluding the loss of The Daily Wire relationship [17] Business Line Data and Key Metrics Changes - Digital Marketing Services (DMS) revenue increased by 30% in Q1, driven by a 41% increase in total customers and a 16% increase in average campaign order size [7][17] - Podcasting revenue was down 13% when including the negative comp from Daily Wire, but up close to 40% when excluding it [9] - Streaming revenue increased by 4% during the quarter, benefiting from bringing the sales function in-house [10] Market Data and Key Metrics Changes - Advertising spending saw pullbacks in key categories such as automotive, retail, and consumer packaged goods (CPG), while insurance and financial categories showed growth [11][17] - The Beyond Home market business grew by 48% in the quarter, following a 45% growth in the previous quarter [12] Company Strategy and Development Direction - The company is focusing on digital business growth, particularly in DMS, and is committed to transforming how it leverages its assets [5][6] - Cost efficiencies are being pursued, with an additional $7,500,000 in annualized fixed cost reductions executed during the quarter [13][18] - The company is optimistic about potential FCC deregulation, which could positively impact the industry [27] Management's Comments on Operating Environment and Future Outlook - The macro environment has become more challenging, with supply chain concerns and inflation pressures affecting consumer sentiment and advertising spending [4] - Pacing is down approximately 10%, or 5% excluding political and Daily Wire impacts, indicating ongoing economic uncertainty [16][19] Other Important Information - The company ended the quarter with $53,000,000 in cash and a net debt of $589,000,000 [19] - The company is exploring asset sales, with expectations of generating $10 to $15 million from such sales this year [29] Q&A Session Summary Question: Were there any programs or content that you had last year that you didn't have this year in the first quarter? - The network's programming did not significantly change, and the decline was driven by general market demand weakness [22][23] Question: Can you provide a month-by-month revenue performance for the quarter? - Revenue pacing was down mid-single digits, ending slightly over 6% down due to late advertiser orders [25] Question: What are the prospects of FCC deregulation and asset sales? - The company is optimistic about FCC deregulation and expects a notice of proposed rulemaking by late summer [27] - Small asset sales occurred in Q1, with a cautious optimism for a significant land sale in Nashville [29]

Core Points - The episode of Canada's Got Talent aired on April 29, 2025, featuring the selection of 14 acts moving on to The Eliminations [1][4] - The show is hosted by Lindsay Ell, with judges including Howie Mandel, Shania Twain, Katherine Ryan, and Kardinal Offishall [1] Contestants and Highlights - Notable contestants include Jacob Lewis from Newfoundland & Labrador, who received Shania Twain's Golden Buzzer, and DeeDee Austin from Prince Edward Island, who received Howie Mandel's Golden Buzzer [2][3] - The winner of Canada's Got Talent will receive a cash prize of $1 million, the largest in Canadian television history, along with $50 from Howie Mandel and financial advice from CIBC [4] - Each Golden Buzzer recipient will receive $25,000, totaling $150,000 for all recipients, to support their ambitions [4] Performances - Performances featured on the episode include acts from various regions such as Whyte Whyne and Young Riesling, Julianna Moore, and Badunkafunk [6] - The episode also showcased dance performances and comedy acts, highlighting the diversity of talent [6][7]

Company Overview - Urban One, Inc. is the largest diversified media company targeting Black Americans and urban consumers in the United States [4] - The company owns TV One, LLC, which serves over 37 million households with a variety of original programming, classic series, and movies [4] - As of March 31, 2025, Urban One operates 72 independently formatted broadcast stations, including 57 FM or AM stations, 13 HD stations, and 2 low power television stations [4] - Urban One also has a controlling interest in Reach Media, Inc., which operates syndicated programming such as the Rickey Smiley Morning Show and the DL Hughley Show [4] - The company owns iOne Digital, a digital platform serving the African American community through various websites and brands [4] Upcoming Events - Urban One will hold a conference call on May 13, 2025, at 10:00 a.m. EDT to discuss its results for the first fiscal quarter of 2025 [1] - A replay of the conference call will be available from May 13, 2025, at 2:00 p.m. EDT until May 20, 2025, at 11:59 p.m. EDT [2]

Core Insights - The event in Grand Rapids focused on how small businesses can leverage technology and grant opportunities provided by Comcast RISE to overcome economic challenges [1][4] - Comcast is committing $3 million in grant packages to support small businesses in West Michigan, emphasizing the importance of collaboration between public and private sectors [5][6] Grant Program Details - Comcast RISE will provide 100 eligible small businesses with comprehensive packages that include technology makeovers, creative production and media services, educational resources, a $5,000 monetary grant, and coaching sessions [8][9] - The application period for the grant packages runs from May 1 to May 31, with winners announced in August [9] Economic Context - A report from the Grand Rapids Chamber indicated that 74% of Muskegon small business owners and 53% of Kent County businesses cited rising costs as a significant operational challenge [5] - The initiative aims to address these challenges and support the entrepreneurial growth in the region [5][6] Comcast RISE Overview - Comcast RISE is part of Project UP, a broader initiative aimed at creating digital opportunities and fostering future growth for small businesses [10] - The program is available in five regions, including Grand Rapids and Muskegon, highlighting its targeted approach to community support [7][10]

Group 1 - Major League Pickleball (MLP) has announced local media partnerships with Gray Media to enhance distribution in various team markets for the 2025 season [1][2] - The 2025 MLP season will include 10 regular season events, a Mid-Season Tournament, and two weeks of playoffs, running from April to August, with a standalone MLP Cup in November [3] - The sport of pickleball has seen significant growth, with over 20 million players currently participating [2] Group 2 - Gray Media is the largest owner of top-rated local television stations in the U.S., reaching approximately 37% of U.S. television households [4] - Gray Media's portfolio includes 78 markets with top-rated television stations and the largest Telemundo Affiliate group with 44 markets [4] - The company also offers digital marketing strategies through Gray Digital Media, enhancing its multimedia presence [4]

Core Points - The E.W. Scripps Company received the 2025 "Service to America" award from the National Association of Broadcasters for its relief efforts following Hurricanes Helene and Milton, which were among the 10 costliest hurricanes in U.S. history [1][2] - Scripps raised over $289,000 for 29 local nonprofits to aid communities affected by the hurricanes, demonstrating the company's commitment to community service [4][5] Company Overview - The E.W. Scripps Company is a diversified media company and one of the largest local TV broadcasters in the U.S., operating over 60 stations in more than 40 markets [6] - Scripps News and other national news outlets provide quality local journalism, while the company also holds the largest broadcast spectrum in the nation [6] - The Scripps Howard Fund, established by Scripps, focuses on journalism education, childhood literacy, and local causes, supporting community engagement and informed citizenship [7][8]