$SSP

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.

Charter Communications sued Scripps in Nevada court over retransmission rights for KMCC-DT, a station airing Las Vegas Aces and Golden Knights games. Charter claims an existing agreement covers the station post-merger, while Scripps argues a new deal is needed. The dispute affects 108,000 Spectrum customers. Scripps may countersue if Charter continues broadcasting KMCC without a new agreement.

The E.W. Scripps Company (SSP) appointed Jen Carfley as head of small and medium business growth and direct response advertising. Carfley, with 15 years of media sales experience, will oversee strategy to connect advertisers with Scripps' video inventory and TV advertising platforms, starting with ION and Bounce networks in 2027. She reports to chief revenue officer Brian Norris.

FOX (FOXA) reported Q2 revenue of $4.21B, up 28.1% YoY, beating estimates. E.W. Scripps (SSP) reported $490.4M, down 9.2% YoY, missing estimates. Gray Television (GTN) reported $839M, up 8.7% YoY, beating estimates. iHeartMedia (IHRT) reported $977.2M, up 4.7% YoY, missing EPS estimates.

E.W. Scripps (SSP) reported Q2 2026 revenue of $490.4 million, down 9.2%, and a net loss per share of $12.68, driven by a $1.1 billion non-cash Networks impairment and $35.8 million restructuring costs. Adjusted EBITDA fell to $55.2 million. Management targeted $100 million run-rate savings by end-2026 and $125-$150 million enterprise EBITDA growth by 2028.

E.W. Scripps (SSP) said it expects midterm political ad revenue of $225–$250 million, plus sports programming and expanded digital news to support advertising and distribution in coming quarters. Connected TV revenue rose 28% year over year. The company’s transformation plan using AI automation targets ongoing cost reductions, though Nielsen measurement changes are uncertain and not in guidance.

E.W. Scripps Co. reported Q2 results affected by a $1.14 billion non-cash impairment charge and a nearly $50 million decline in operating revenue, following an internal CEO memo about a “refounding” plan that would eliminate about 270 jobs, according to the company’s earnings release and memo.

The article says media companies are shifting from the early streaming wars toward different growth strategies, citing Disney, Warner Bros. Discovery, Fox, Versant, and News Corp. It highlights Scripps eliminating 432 positions and 126 open roles, targeting $100 million in annualized savings via AI and automation. It also notes News Corp’s AI partnerships with OpenAI and Meta and legal actions over content use.

The E.W. Scripps Company (NASDAQ: SSP) reported an impairment charge and a quarterly swing to a $12.68 loss, according to the company’s financial reporting for the period ending June 30, 2026.