$SSP

The E.W. Scripps Company (SSP) raised its 2026 political ad revenue forecast to $275M, up 40% from 2022. It cut 850 jobs, 20% of its workforce, to achieve $125M-$150M in EBITDA growth by 2028. Q3 political revenue was $81M, exceeding prior guidance. SSP plans to use cash and Q4 ad revenue to pay down $150M in debt.

Scripps announced 431 layoffs and 100 new job additions as part of an enterprise-wide transformation. CEO Adam Symson stated the changes aim to adapt to audience consumption patterns and strengthen local journalism. The company will attempt to fill new roles with affected employees.

E. W. Scripps Company laid off over a dozen employees at TMJ4 on Oct. 27, part of a broader workforce reduction affecting 6% of its staff. The cuts, announced in August, aim to improve expenses and adapt to the media landscape. Scripps reported a $1.151 billion quarterly loss, citing factors like the Court TV sale and advertising market challenges. The company is transforming operations using technology and AI. Scripps has not yet responded to requests for comment.

Scripps CEO Adam Symson defended layoffs and newsroom restructuring, citing a 23% increase in streaming viewership and 10-minute longer viewing times. The company faces $2.5B debt and shares down 83% since 2021. Q3 earnings report due soon. Symson hinted at more job cuts. Early viewer reactions are mixed.

SSP Group, owner of Upper Crust and Millie’s Cookies, reported £3.8B revenue, up 5% YoY. UK/Ireland sales rose 9% in Q4, but Middle East conflict and lower US passenger numbers impacted other regions. Full-year operating profit expected at £230M, slightly below prior estimates.

The E.W. Scripps Company (SSP) plans to release its third-quarter 2026 operating results on Nov. 5, with a conference call scheduled for Nov. 6. The company provided details for accessing the live webcast and dial-in options for the call, including separate instructions for analysts. A replay will be available online afterward. Scripps operates 60 TV stations and several national news and entertainment brands.

Dish Network removed Scripps-owned WTVQ (ABC affiliate in Lexington) from its service, citing a distribution agreement violation by Scripps. Dish has not commented. Affected subscribers lose access to ABC programming, including sports and shows, until resolved. WTVQ remains available via antenna or streaming services.

E. W. Scripps has appointed Sean McGarvy as its new Head of News. The company's stock has seen a 5-day change of 2.69 USD, with a year-to-date decline of 12.94%. This appointment may impact the company's news division strategy and performance.

The E.W. Scripps Company (SSP) announced a new Local Media leadership structure, reorganizing into 11 regions. This change aims to adapt to evolving media consumption habits and improve operational efficiency. The company is eliminating 27 roles as part of this transformation, while emphasizing local journalism and revenue growth. Regional general managers will oversee multiple markets, reporting to senior vice presidents.

Comcast Xfinity and Scripps failed to reach an agreement, leading to a blackout of Scripps' local stations, including those airing NHL games. ESPN took control of NFL Network, with key executives moving over. Fox and Sinclair submitted comments to the FCC advocating for live sports on broadcast TV. NFL media rights renegotiations are anticipated.