E.W. SCRIPPS Co 8K

The E.W. Scripps Company reported a Q2 2026 net loss of $1.2 billion driven largely by a $1.1 billion non-cash impairment at Scripps Networks, alongside major cost-cutting, workforce reductions, retransmission disruptions, portfolio transactions, and new sports rights deals, against a highly leveraged balance sheet and updated political ad and segment outlooks.

On August 6, 2026, The E.W. Scripps Company reported its second quarter 2026 financial results, disclosing $490 million in revenue, a net loss attributable to shareholders of $1.2 billion (or $12.68 per share), and a substantial $1.1 billion non-cash goodwill and intangible asset impairment charge at Scripps Networks driven by continued advertising and ratings pressures. The company outlined progress on its multi-year transformation plan, including cost reductions targeting $125–$150 million in incremental enterprise EBITDA by 2028 and expecting about $100 million of annual run-rate savings by year-end 2026, while noting additional transformation-related job cuts affecting approximately 6% of its workforce (268 roles) in the third quarter. Scripps also detailed operational developments such as completed retransmission consent renewals (with temporary station blackouts at Comcast and DirecTV that negatively impacted Q2 distribution and core advertising revenue), record Q2 political ad revenue and an updated full-year 2026 local political revenue outlook of $225–$250 million, and several strategic moves in its media portfolio including the sale of Court TV, completed station sales in Fort Myers and Indianapolis, acquisition of a second Big 4 station in Lexington, a multi-market station swap with Gray Media, and new sports rights deals with the NBA’s Detroit Pistons and NHL’s Nashville Predators plus ION’s acquisition of U.S. rights to televise the 2027 Women’s Volleyball World Cup. Management emphasized the company’s high leverage and capital constraints—highlighting $13 million of cash against $2.5 billion of total debt, ongoing nonpayment and compounding of Berkshire Hathaway preferred dividends totaling $150 million, and the resulting prohibition on common dividends or repurchases—while providing segment performance detail, non-GAAP adjusted EBITDA metrics, and forward-looking guidance for Q3 2026 revenue and expense trends across Local Media, Scripps Networks, and corporate costs.

Filing Facts

CIK

832428

Ticker

-

Form

8K

Source Type

sec

Accession

0000832428-26-000031

Alert Tier

8