#United States #Cincinnati #financial results #Q2 2025 #E.W. Scripps Company

E.W. Scripps Company Reports Q2 2025 Financial Performance

The E.W. Scripps Company recently announced its financial results for the second quarter of 2025, revealing a mixed bag of performance metrics that reflect both challenges and strategic advancements.

In Q2 2025, Scripps generated revenues of $540 million, which represents a decrease of 5.8% ($33.5 million) compared to the same quarter the previous year. The company's loss attributable to shareholders was reported at $51.7 million, amounting to 59 cents per share. This is notably a significant increase in loss relative to the preceding year's loss of $13 million or 15 cents per share, largely attributed to various financing transaction costs and other financial activities.

Key Highlights and Developments

Several notable developments marked Scripps' recent quarter:

• - Station Swap with Gray Media: A significant agreement was made with Gray Media to swap television stations across various small to mid-sized markets across four states. This deal is expected to create stronger local news coverage and improved financial performance for both companies involved.
• - Renewed Sports Agreements: Scripps announced a renewal of its broadcast agreement with the WNBA for the WNBA Friday Night Spotlight on ION. This deal follows a surge in viewership, with a reported 133% increase last season, bringing in over 23 million unique viewers.
• - Refinancing Moves: Scripps successfully placed $750 million in new senior secured second-lien notes, featuring a 9.875% interest rate. The funds were used to alleviate some of the company's outstanding debts, showcasing progressive debt management strategies amid economically trying times.

Financial Breakdown

Local Media Division:

• - Local Media revenues stood at $335 million, falling by 8.3%. Core advertising revenue only slightly dipped by 1.9% to $137 million, while political ad revenue experienced a drastic drop from $28.2 million last year to just $2.6 million this year, reflecting a non-election year impact on political spending.
• - Despite the revenue downturn, the Local Media division's expenses increased by 0.8% to $279 million. Consequently, segment profit declined significantly to $55.8 million from $88.1 million in the prior year.

Scripps Networks Division:

• - The Scripps Networks division reported revenues of $206 million, down 1.4%. However, the segment's expenses saw a greater reduction of 12.4%, leading to a significant profit increase of 48.2% year-over-year to $55.9 million.

As of June 30, 2025, Scripps reported total cash and equivalents of $31.7 million and overall debt amounting to $2.7 billion. The adjustments from refinancing and restructuring efforts have bolstered Scripps’ position as the company attempts to navigate through a challenging advertising landscape and act on growth strategies.

Forward-Looking Statements

In light of current trends, Scripps is preparing for lower local media revenue projections in Q3 2025, anticipated to fall within the mid-to-high 20% range, along with gradual adjustments in expenses. Continuing developments will focus heavily on leveraging strategic partnerships in sports and local media to drive future profitability.

In conclusion, while Q2 results illustrate some financial hurdles for Scripps, ongoing strategic refinements and market adaptability are key focal points as management works to enhance operational efficiencies and foster long-term growth.

For investors and those interested in Scripps’ future trajectory, a conference call will provide further insights, scheduled for 9 a.m. Eastern Time on August 8, 2025.