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.
Details
News Market Reaction – SSP
In the Feb 25 session, 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
- 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
Historical Context
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Named VP to connect advertisers with sports and entertainment portfolio.
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Launched plan targeting $125–$150M annualized EBITDA improvement by 2028.
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Agreed to sell Court TV to align with balance sheet and strategy.
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WXYZ investigation won prestigious Alfred I. duPont-Columbia Award.
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Joined partners for National News Literacy Week focused on AI-era trust.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
enterprise value financial
connected TV technical
EBITDA financial
AI technical
automation technical
AI-generated analysis. How Rhea-AI works. 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
On Feb. 11, the company announced a transformation plan under Symson’s leadership that will grow annualized enterprise EBITDA by
“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
FAQ
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