Scripps board extends employment agreement for CEO Adam Symson

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) extended CEO Adam P. Symson’s employment agreement through Dec. 31, 2029, replacing the prior five-year deal that would have ended in 2027. The board cited Symson’s role in acquisitions, Scripps Sports, the ION combination, and CTV revenue now exceeding $100 million with double-digit growth. The company also unveiled a transformation plan to grow annualized enterprise EBITDA by $125–150 million by 2028 through growth initiatives, AI, automation and efficiencies.

Positive

• CEO contract extended through Dec. 31, 2029
• CTV revenue >$100M with double-digit annual growth
• EBITDA improvement target of $125–150M by 2028

Negative

• None.

News Market Reaction – SSP

+4.61%

1 alert

+4.61% News Effect

On the day this news was published, SSP gained 4.61%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

CEO contract term: Through Dec. 31, 2029 Prior contract length: Five-year contract Scripps Networks revenue: Well over $100 million a year +5 more

8 metrics

CEO contract term Through Dec. 31, 2029 New employment agreement for CEO Adam Symson

Prior contract length Five-year contract Agreement that began Aug. 2, 2022 and ran to end of 2027

Scripps Networks revenue Well over $100 million a year Annual revenue from Scripps’ connected TV reach, with double-digit growth

EBITDA improvement target $125–$150 million Annualized enterprise EBITDA improvement expected by 2028 from transformation plan

Scripps Sports launch December 2022 Launch of Scripps Sports to support local sports distribution

ION acquisition completion 2021 Acquisition of ION Network later combined with Katz Networks

WNBA partnership year 2023 Partnership to create franchise nights on ION

EBITDA plan reference date Feb. 11 Date company announced transformation plan under Symson’s leadership

Market Reality Check

Price: $3.60 Vol: Volume 279,497 is 0.62x t...

low vol

$3.60 Last Close

Volume Volume 279,497 is 0.62x the 20-day average of 450,450, indicating below-normal activity before this announcement. low

Technical Price $3.47 is trading above the 200-day MA of $3.16, while still about 30.32% below the 52-week high and above the midpoint of the $1.36–$4.98 range.

Peers on Argus

SSP’s context shows mixed peer action: CURI up 3.83%, MDIA up 4.25%, while IHRT ...

3 Up

SSP’s context shows mixed peer action: CURI up 3.83%, MDIA up 4.25%, while IHRT is down 8.55% and SGA slightly negative. Momentum scanners flag UONE, BBGI, and IHRT all moving up, but this pattern does not match an SSP-specific signal, supporting a stock-specific rather than broad sector move.

Historical Context

5 past events · Latest: Feb 18 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 18	Executive appointment	Positive	+5.0%	Named VP to connect advertisers with sports and entertainment portfolio.
Feb 11	Transformation plan	Positive	-4.0%	Launched plan targeting $125–$150M annualized EBITDA improvement by 2028.
Feb 09	Asset divestiture	Positive	+6.8%	Agreed to sell Court TV to align with balance sheet and strategy.
Jan 29	Award recognition	Positive	+3.0%	WXYZ investigation won prestigious Alfred I. duPont-Columbia Award.
Jan 29	AI literacy initiative	Neutral	+3.0%	Joined partners for National News Literacy Week focused on AI-era trust.

Pattern Detected

Recent news skewed positive (sports, divestiture, awards), with 4 of 5 items followed by gains and one strategic plan announcement met with a decline.

Recent Company History

Over recent months, Scripps has focused on strategic repositioning and brand-building. It sold Court TV to Law&Crime while emphasizing balance sheet strength and future opportunities. A transformation plan targeting $125–$150 million in annualized EBITDA improvement by 2028 underscored an efficiency and growth push. Sports and advertiser initiatives advanced with a new VP appointment, while journalistic strength was highlighted by a duPont-Columbia Award and participation in National News Literacy Week, reinforcing both commercial and public-service dimensions ahead of this CEO contract extension.

Market Pulse Summary

This announcement emphasizes leadership stability, with the CEO’s contract extended through 2029 as ...

Analysis

This announcement emphasizes leadership stability, with the CEO’s contract extended through 2029 as Scripps advances its transformation plan targeting $125–$150 million in annualized EBITDA improvement by 2028. The board highlights progress in sports, networks, and connected TV, which now generates well over $100 million annually with double-digit growth. Investors may watch upcoming earnings, progress on the transformation milestones, debt metrics from recent refinancing, and the performance of Scripps Sports and ION-driven initiatives.

Key Terms

enterprise value, connected TV, EBITDA, AI, +1 more

5 terms

enterprise value financial

"Symson has served as Scripps’ president and CEO since August 2017, building enterprise value through key acquisitions"

Enterprise value is the total worth of a company, reflecting what it would cost to buy the entire business. It includes the company's market value plus any debts, minus its cash holdings, offering a comprehensive picture of its true value. Investors use it to compare companies regardless of their capital structures, helping them assess how much they would need to pay to acquire the business.

connected TV technical

"its ubiquitous connected TV reach garners well over $100 million a year"

A connected TV is a television that can access the internet and run online apps, streaming services, and digital content directly on the screen, much like a giant tablet or computer. For investors, it matters because it represents a shift in how people consume media, opening new opportunities for advertising, content creation, and revenue growth in the entertainment industry.

EBITDA financial

"plan under Symson’s leadership that will grow annualized enterprise EBITDA by $125-$150 million by 2028"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

AI technical

"by 2028 through growth initiatives, technology including AI and automation and operating efficiencies"

Artificial intelligence (AI) is technology that enables machines to mimic human thinking and learning, allowing them to analyze information, recognize patterns, and make decisions. For investors, AI matters because it can improve how businesses operate, create new products, or identify opportunities faster and more accurately than humans alone, potentially impacting company success and market trends.

automation technical

"by 2028 through growth initiatives, technology including AI and automation and operating efficiencies"

Automation is the use of technology to perform tasks with minimal human intervention, often replacing manual work with machines or software. It matters to investors because it can increase efficiency, reduce costs, and enable faster decision-making, potentially leading to higher profits and competitive advantages for businesses.

AI-generated analysis. Not financial advice.

CINCINNATI, Feb. 25, 2026 (GLOBE NEWSWIRE) -- The board of directors of The E.W. Scripps Company (NASDAQ: SSP) has approved a new contract for Scripps President and CEO Adam P. Symson that runs through Dec. 31, 2029.

The new agreement replaces a five-year contract that began Aug. 2, 2022, and was set to expire at the end of 2027.

Symson has served as Scripps’ president and CEO since August 2017, building enterprise value through key acquisitions and divestitures as well as organic growth. Symson foresaw the decline of the cable regional sports networks and launched Scripps Sports in December 2022 to help local sports teams reach their fans using the company’s many distribution platforms, and today revenue from that effort is helping drive Scripps’ core advertising market overperformance. He also saw the opportunity to acquire the ION Network, completed in 2021 and combined with the former Katz Networks to create a wholly new, high-margin operating division, Scripps Networks. Within a year, the company was able to begin gaining carriage of those networks on key streaming services, and today its ubiquitous connected TV reach garners well over $100 million a year with double-digit annual growth. Symson also engineered the partnership with the WNBA in 2023 and later the National Women’s Soccer League to create fan-friendly “franchise nights” on ION, growing the network’s women’s sports programming even more in 2025.

On Feb. 11, the company announced a transformation plan under Symson’s leadership that will grow annualized enterprise EBITDA by $125-$150 million by 2028 through growth initiatives, technology including AI and automation and operating efficiencies. In that announcement, Symson said the transformation plan was a proactive move to best position the company to compete in the changing media industry.

“Adam has led this company through a challenging broadcast industry landscape by repeatedly identifying new opportunities to position it for success,” said Scripps Board Chair Kim Williams. “He has a bold vision for the role the company can play in our democracy by connecting its communities and audiences through their common interests and passions while at the same time creating business value.

“He is widely respected in the industry for his advocacy of the First Amendment, and he fosters a mission-based and performance-focused culture. In extending his contract, the board wanted to ensure Adam would remain at the helm to steer the company through the completion of its EBITDA improvement plan and the transformation and growth initiatives that will propel it into the next era of its long and venerable history.”

Williams said the board and company’s strategies for executive pay place a strong emphasis on variable compensation in order to align management’s interest with those of its shareholders.

Symson joined Scripps as an investigative producer at KNXV-Phoenix in 2002. He also has served as chief operating officer; chief digital officer; head of operations, content and revenue for the TV division’s interactive businesses; and director of content and marketing for the Scripps interactive media division (which was spun off into Scripps Networks Interactive in 2008).

Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 977-3732, carolyn.micheli@scripps.com
Media contact: Becca McCarter, The E.W. Scripps Company, (513) 410-2425, rebecca.mccarter@scripps.com

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlet Scripps News and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: “Give light and the people will find their own way.” 

FAQ

What did Scripps (SSP) announce about Adam Symson's employment on Feb. 25, 2026?

The board extended Adam Symson’s employment agreement through Dec. 31, 2029. According to the company, the new contract replaces a five-year agreement set to expire at the end of 2027 and secures leadership through the transformation plan.

How much CTV revenue does Scripps (SSP) report from its networks in 2026?

Scripps reports connected TV reach generating well over $100 million a year with double-digit growth. According to the company, carriage gains and network expansion drove the CTV revenue acceleration and continued monetization.

What is Scripps' EBITDA improvement target and timeline announced Feb. 11, 2026?

Scripps targets an annualized enterprise EBITDA increase of $125–150 million by 2028. According to the company, the plan relies on growth initiatives, technology including AI and automation, and operating efficiencies.

Why did the Scripps board extend CEO Adam Symson's contract through 2029 (SSP)?

The board extended his contract to retain leadership through completion of the EBITDA plan and transformation initiatives. According to the company, they cited Symson’s track record in acquisitions, Scripps Sports, and building CTV revenue.