Financial Data and Key Metrics Changes - The company reported a first quarter loss per share of $0.22, which is an improvement compared to the consensus EPS estimate, despite a preferred stock dividend impact of $0.18 [14] - Total debt at the end of the quarter was $2.6 billion, with a net leverage ratio of 4.9 times, which the company aims to reduce further this year [14][15] - The company completed refinancing transactions that increased the blended cost of debt by less than 1% and extended the maturity of up to $1.5 billion of debt [15] Business Line Data and Key Metrics Changes - Local Media division revenue decreased by 7.8% year-over-year, with core advertising revenue down 3% due to economic uncertainty [9][10] - Scripps Networks revenue was $198 million, down about 5% year-over-year, but Connected TV revenue increased by 42% [11][12] - Local Media segment profit was $35 million, down from $66 million in Q1 2024 [10] Market Data and Key Metrics Changes - Local distribution revenue was down 5% year-over-year, with expectations for high single-digit declines in Q2 [10][11] - The advertising categories of automotive and retail were the worst performers in Q1, while gambling advertising saw growth [46][48] Company Strategy and Development Direction - The company is focused on debt reduction and improving its balance sheet, with a commitment to using free cash flow for debt reduction [15][16] - There is an expectation of local broadcast industry consolidation that could drive growth and enhance shareholder value [20] - The company is leveraging its local news and sports programming to strengthen connections with audiences and advertisers [20][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged headwinds from economic uncertainty but expressed confidence in the company's performance and strategic direction [7][19] - The company anticipates continued challenges in the advertising market but expects to benefit from strong demand for women's sports programming [54][92] Other Important Information - The company has received multiple prestigious journalism awards for its news programming, highlighting its commitment to quality journalism [21][22] - The company is exploring opportunities for regulatory relief to enhance its competitive position in the market [27] Q&A Session Summary Question: How is Scripps positioned to take advantage of regulatory changes? - Management believes that greater scale and market depth are necessary for performance and plans to leverage opportunities from potential regulatory changes [29][30] Question: What visibility does the company have for performance in the back half of the year? - Management indicated that visibility is strong, particularly due to the demand generated by sports programming [31][38] Question: How did employee compensation and benefits change in Scripps Networks? - Employee compensation was down 31% year-over-year, and management expects this lower cost base to continue [43][45] Question: What is the outlook for advertising categories? - Automotive and retail were the worst performers in Q1, but gambling advertising saw growth, particularly in markets with local sports [46][48] Question: What is the expected impact of political advertising in the upcoming year? - Management expects a typical off-cycle year for political advertising, with potential for earlier spending due to the current environment [91][93]

Financial Data and Key Metrics Changes - The company reported a first-quarter loss per share of $0.22, which is an improvement compared to the consensus EPS estimate, despite a preferred stock dividend impact of $0.18 and a $4 million restructuring charge that increased the loss by $0.04 per share [13][14][24] - Total debt at the end of the quarter was $2.6 billion, with a net leverage ratio of 4.9 times, which the company expects to reduce throughout the year [13][14][24] Business Line Data and Key Metrics Changes - Local Media division revenue decreased by 7.8% year-over-year, with core advertising revenue down 3% due to hesitancy in advertising spending amid economic uncertainty [7][8] - Scripps Networks revenue was $198 million, down about 5% from the previous year, but Connected TV revenue increased by 42% [10][11] - Local Media segment profit was $35 million, down from $66 million in Q1 2024, while Scripps Networks segment profit rose to $64 million from $49.7 million year-over-year [8][12] Market Data and Key Metrics Changes - The company expects Local Media division revenue to decline in the high single-digit range for Q2, with core revenue down in the low single-digit range due to ongoing economic uncertainties [9][12] - Advertising categories such as automotive and retail were the worst performers in Q1, while gambling advertising saw growth tied to local sports deals [42][44][75] Company Strategy and Development Direction - The company is focused on debt reduction and improving its balance sheet, with a commitment to using free cash flow for debt repayment [14][15] - Management anticipates local broadcast industry consolidation, which could enhance growth and efficiency in local markets [17][18] - The company is leveraging its local news and sports programming to strengthen connections with audiences and advertisers, aiming to create shareholder value [19][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to navigate economic uncertainties and highlighted strong performance in Connected TV and disciplined expense management [6][16] - The company is preparing for potential regulatory changes that could allow for greater consolidation and operational leverage in local markets [24][60] Other Important Information - The company completed refinancing transactions that improved its debt maturity profile and only slightly increased its blended cost of debt [14][15] - The company has received multiple prestigious journalism awards, reinforcing its commitment to quality news reporting [19][20] Q&A Session Summary Question: How is Scripps positioned to take advantage of regulatory changes? - Management believes that greater scale and market depth are necessary for performance and plans to leverage opportunities from potential regulatory changes [26][27] Question: What visibility does the company have on performance in the back half of the year? - Management indicated that while there is excitement around women's sports, concrete details from upfronts will be clearer in the next earnings call [30][31] Question: How did advertising categories perform in Q1? - Automotive and retail were the worst performers, while gambling advertising saw growth due to local sports deals [42][44] Question: What is the outlook for retransmission revenues? - Management confirmed that retransmission subscribers were down mid-single digits year-over-year, consistent with previous trends [52][53] Question: What is the expected impact of deregulation on the ION side of the business? - Management anticipates that changes in ownership rules could allow for more local stations, improving margins for ION [69][70] Question: What is the expected cash balance post-refinancing? - The company had $25 million in cash at the end of the quarter, with expectations to reduce revolver balances by the end of the year [93][96]

Core Insights - Xtreme One Entertainment, Inc. has entered into an exclusive Spanish-language rights agreement with CDN Deportes to broadcast Xtreme Fighting Championships (XFC) events in the Dominican Republic, enhancing its media presence and fan base [1][2][3] Company Overview - Xtreme One Entertainment, Inc. is a diversified holding company focused on media, entertainment, live sports, and event marketing, having acquired XFC Global in 2023 [7] - XFC has produced over 50 televised professional MMA events since 2006, with a significant viewership across various platforms [7] Partnership Details - The partnership with CDN Deportes will debut with the Young Guns 8 series, aimed at showcasing rising MMA prospects to an international audience [2][3] - CDN Deportes is the leading sports network in the Dominican Republic, providing national coverage and a platform for various sports, including XFC events [5][6] Audience Reach - The agreement with CDN Deportes allows XFC to reach over 1.3 million households in the Dominican Republic, significantly expanding its MMA fan base [2][3] - XFC's programming is also available on multiple platforms, including beIN SPORTS in the U.S. and Canada, BAND TV in Brazil, and its YouTube channel [3][7]

Core Insights - The E.W. Scripps Company reported $524 million in revenue for Q1 2025, a decrease of 6.6% from the previous year, with a loss attributable to shareholders of $18.8 million or 22 cents per share [1][6][7] Financial Performance - Revenue for the Local Media segment was $325 million, down 7.8% year-over-year, while Scripps Networks revenue was $198 million, down 5.4% [10][12] - Total costs and expenses for the company were $454 million, reduced from $474 million in the prior-year quarter [6] - The company achieved a segment profit of $34.9 million for Local Media, a decline of 46.7%, while Scripps Networks saw a profit increase of 29.1% to $64.1 million [11][12] Operational Highlights - The Scripps Networks division achieved a margin of 32%, attributed to growth in connected TV revenue and effective cost management [9] - The company completed negotiations covering 25% of its pay TV households and closed refinancing transactions for its term loans and revolving credit facility [1][9] - New distribution agreements for live women's sports events are expected to enhance advertising revenue and audience engagement [4][6] Debt Management - The company prioritized debt paydown, with total debt standing at $2.6 billion and net leverage at 4.9x at the end of Q1 [13][14] - The refinancing included a new term loan due in 2028 with $545 million outstanding and a new revolving credit facility maturing in 2027 [14][15] Future Outlook - The company anticipates flat distribution revenue for the year despite subscriber declines, with a positive outlook for the Scripps Networks division due to the return of women's sports [9][17] - The local broadcast station sector may benefit from potential deregulation by the Federal Communications Commission [5]

Gray Media (GTN) Q1 2025 Earnings Call May 08, 2025 01:00 PM ET Company Participants Hilton H. Howell Jr - Chairman & CEOKevin Latek - Chief Legal and Development OfficerPat LaPlatney - President and Co-CEOJeff Gignac - Executive VP & CFOPatrick Sholl - Vice PresidentAlan Gould - Managing Director Conference Call Participants Daniel Kurnos - Equity Research AnalystAaron Watts - Managing Director, Media, Entertainment, Cable, & Satellite Credit AnalystCraig Huber - Equity Research AnalystSteven Cahill - Anal ...

Gray Media (GTN) Q1 2025 Earnings Call May 08, 2025 01:00 PM ET Speaker0 Good afternoon, ladies and gentlemen, and welcome to the Gray Media Q1 Earnings Call. And without further ado, I will now turn the program over to our Chairman Hilton Howell Jr. Speaker1 Thank you, operator. Good afternoon, everyone. As operator mentioned, this is Hilton Howell, Chairman and CEO of Gray Media. I want to thank all of you for joining our first quarter twenty twenty five earnings call. With me here in Atlanta as usual are ...

Financial Data and Key Metrics Changes - Total company revenue for Q1 was $680 million, a decrease of 5% year over year, aligning with the outlook of down 4% to 7% [16][17] - Adjusted EBITDA for Q1 was $136 million, a 22% decrease year over year, primarily due to lower political advertising revenue and AMS revenue [20] - Cash and cash equivalents totaled $717 million at quarter end, with net leverage finishing at 2.8 times [22] Business Line Data and Key Metrics Changes - Advertising and marketing services (AMS) revenue was $286 million, a 3% decrease year over year, impacted by macroeconomic headwinds and the Super Bowl airing on Fox [17] - Distribution revenue was flat year over year at $380 million, affected by a temporary disruption of service and subscriber declines [19] - Digital advertising revenue showed year-over-year growth, continuing momentum from the previous quarter [18] Market Data and Key Metrics Changes - Advertising demand remains closely tied to overall economic sentiment, with consumer confidence softening, leading to a cautious approach from some advertisers [17] - Approximately 45% of traditional subscribers are up for renewal in 2025, providing opportunities for value capture [19] Company Strategy and Development Direction - The company is focused on five areas: building a strong team culture, leveraging strengths across stations, deploying technology and AI, growing digital revenue, and cutting unnecessary spending [6][7] - Recent sports rights deals have been secured across various leagues, enhancing local broadcasting capabilities [13] - The company is taking a measured approach to share repurchases, preserving financial flexibility amid potential deregulation and M&A opportunities [22] Management's Comments on Operating Environment and Future Outlook - Management noted that the advertising environment is expected to be softer in Q2 compared to Q1, influenced by macroeconomic factors [31] - There is optimism regarding the potential for M&A opportunities due to favorable regulatory conditions [29][40] - The company remains committed to returning 40% to 60% of adjusted free cash flow to shareholders over the 2024-2025 period [21] Other Important Information - The company is on track to achieve annualized core non-programming savings of $90 million to $100 million by the end of 2025 [21] - A reclassification of subscription revenue to distribution revenue was made, with immaterial amounts highlighted for simplification [19] Q&A Session Summary Question: Future deregulation initiatives and M&A opportunities - Management believes that the FCC's support for local broadcasters will unlock M&A opportunities, but specifics depend on the full landscape and pricing [29][30] Question: Anticipated headwinds in the advertising environment - Management indicated that Q2 is expected to be softer than Q1, with lower consumer confidence impacting advertising strategies [31][32] Question: Appetite for M&A and synergy opportunities - Management expressed excitement about M&A opportunities, emphasizing the potential for significant cost savings through consolidation [39][64] Question: Trends in Premion's performance - Premion's revenues remain flattish quarter to quarter, with local advertising continuing to grow while national declines offset this growth [42] Question: Alternative uses of spectrum and revenue generation - Management sees potential in ATSC 3.0 technology for future revenue streams, though significant revenue generation is not expected immediately [48][49] Question: Market concentration and regulatory views - Management highlighted that big tech dominates viewer consumption, suggesting that regulators should consider the competitive landscape when evaluating local news market concentration [59][60]

Saga Communications (SGA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Company Participants Christopher Forgy - CEO, President & DirectorSamuel D. Bush - Executive VP, CFO & Treasurer Operator Good day, everyone, and welcome to the Saga Communications First Quarter Earnings Release. At this time, all participants have been placed on a listen only mode. It is now my pleasure to turn the floor over to your host, Chris Forge. Sir, the floor is yours. Christopher Forgy Thank you, Matt, and good morning to eve ...

Tegna (TGNA) Q1 2025 Earnings Call May 08, 2025 11:00 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Q1 twenty twenty five TEGNA, Inc. Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please pre ...

Nexstar Media Group (NXST) Q1 2025 Earnings Call May 08, 2025 10:00 AM ET Company Participants Joseph Jaffoni - JCIRPerry Sook - Founder, Chairman & CEOMichael Biard - President & COOLee Gliha - Executive VP & CFOJason Bazinet - DirectorPatrick Sholl - Vice PresidentAlan Gould - Managing Director Conference Call Participants Daniel Kurnos - Equity Research AnalystSteven Cahall - Managing Director, Senior Analyst - Media, Advertising & CableBenjamin Soff - AnalystAaron Watts - Managing Director, Media, Enter ...