E.W. Scripps lifts Local Media political ad outlook to ~$275M
Scripps says it will use quarter-end cash and fourth-quarter political ad proceeds toward at least $150 million of debt paydown.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
The E.W. Scripps Company raised its full-year 2026 Local Media midterm political advertising revenue expectation to about $275 million, about 40% above 2022 midterm election revenue. Third-quarter Local Media political revenue was nearly $81 million. In August, Scripps had guided to a full-year range of $225-$250 million.
Scripps completed 431 workforce reductions, bringing the total employees impacted in 2026 to about 850, nearly 20% of its employee count at the beginning of the year. The reductions are part of a transformation plan to generate $125-$150 million of enterprise EBITDA growth by 2028. Scripps expects to have implemented about $100 million in annual run-rate savings by year end, with the impact becoming most evident beginning in fourth-quarter results.
At the end of the third quarter, Scripps had $83 million in cash and said it will use that and proceeds from fourth-quarter political advertising revenue to pay down at least $150 million of debt in the fourth quarter.
1 point · 1 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Major point. Forward-looking: it has not happened yet and may not happen.Political ad guidance: about $275 million, about 40% above 2022 midterm revenue.
Negative
- Moderate point2026 employees impacted reached about 850, nearly 20% of beginning-year employee count.
Filing Explained
The
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Full-year 2026 Local Media political advertising revenue expectation: about $275 million
Third-quarter Local Media political revenue: nearly $81 million
Workforce reductions completed: 431 reductions
+5 more
8 metrics
Full-year 2026 Local Media political advertising revenue expectation
about $275 million
About 40% above 2022 midterm election revenue
Third-quarter Local Media political revenue
nearly $81 million
Third quarter 2026
Workforce reductions completed
431 reductions
Completed in 2026
Total employees impacted
about 850 employees
In 2026; nearly 20% of beginning-of-year employee count
Enterprise EBITDA growth target
$125-$150 million
By 2028
Annual run-rate savings expected
about $100 million
Expected to be implemented by year end
Cash
$83 million
At the end of the third quarter
Debt paydown planned
at least $150 million
Fourth quarter
Key Terms
enterprise EBITDA growth, annual run-rate savings, Local Media political advertising revenue
3 terms
enterprise EBITDA growth financial
"$125-$150 million of enterprise EBITDA growth by 2028"
annual run-rate savings financial
"about $100 million in annual run-rate savings"
Local Media political advertising revenue financial
"full-year 2026 midterm Local Media political advertising revenue"
Earnings Snapshot
Full-year Local Media political advertising revenue expectation: about $275 million · Guidance included
Third quarter ended September 30, 2026 and full-year 2026
Full-year Local Media political advertising revenue expectation
about $275 million
about 40% above 2022 midterm election revenue
Third-quarter Local Media political revenue
nearly $81 million
Enterprise EBITDA growth target by 2028
$125-$150 million
Annual run-rate savings expected by year end
about $100 million
Cash at the end of the third quarter
$83 million
Debt paydown planned for the fourth quarter
at least $150 million
Guidance
Full-year 2026 Local Media midterm political advertising revenue expectations were raised to about $275 million.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is SSP's full-year 2026 political advertising revenue outlook?
Scripps raised its full-year 2026 Local Media midterm political advertising revenue expectation to about $275 million. That is about 40% above 2022 midterm election revenue; the August guidance range was $225-$250 million.
How much debt does Scripps plan to pay down in the fourth quarter?
Scripps said it will use its $83 million in cash at the end of the third quarter and fourth-quarter political advertising proceeds to pay down at least $150 million of debt in the fourth quarter.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 28, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant’s telephone number, including area code: (513 ) 977-3000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act.
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
THE E.W. SCRIPPS COMPANY
INDEX TO CURRENT REPORT ON FORM 8-K
| Item No. | Page | |||||||
| 2.02 | Results of Operations and Financial Condition | 3 | ||||||
| 9.01 | Financial Statements and Exhibits | 3 | ||||||
2
Item 2.02 Results of Operations and Financial Condition
On October 28, 2026, The E.W. Scripps Company (the “Company”) issued a press release that, among other things, provided certain preliminary financial information for the quarter ended September 30, 2026. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
| Exhibit Number | Description of Item | |||||||
99.1 | Press release dated October 28, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| THE E.W. SCRIPPS COMPANY | ||||||||
| BY: | /s/ Daniel W. Perschke | |||||||
| Daniel W. Perschke | ||||||||
| Senior Vice President, Controller | ||||||||
| (Principal Accounting Officer) | ||||||||
Dated: October 28, 2026
4
Exhibit 99.1
  | |||||||||||
Scripps raises full-year political guide,
completes 2026 workforce reductions
| Oct. 28, 2026 | ||||||||
CINCINNATI - The E.W. Scripps Company (NASDAQ: SSP) has raised its expectations for full-year 2026 midterm Local Media political advertising revenue to about $275 million, which is about 40% above its 2022 midterm election revenue.
On Tuesday, the company also completed 431 workforce reductions, bringing the total employees impacted in 2026 to about 850 – nearly 20% of its employee count from the beginning of the year. The reductions are part of Scripps’ company transformation plan to generate $125-$150 million of enterprise EBITDA growth by 2028. The impact of the transformation work will become most evident beginning in the fourth-quarter results, and the company expects to have implemented about $100 million in annual run-rate savings by year end.
For the third quarter, Scripps’ Local Media political revenue was nearly $81 million, driven by strong candidate, issue and advocacy spending across Scripps markets in Michigan and Ohio as well as Arizona, Florida, Wisconsin, Tennessee and Virginia. In August, the company had guided to a full-year range of $225-$250 million.
At the end of the third quarter, Scripps had $83 million in cash and will use that and proceeds from Q4 political advertising revenue to pay down at least $150 million of debt in the fourth quarter.
Scripps will release its full third-quarter 2026 results after the market closes Thursday, Nov. 5, as previously announced.
Forward-looking statements
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” “target” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company’s plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company’s control. The company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company’s ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company’s ability to manage its outstanding debt obligations. A detailed discussion of such risks and uncertainties is included in the company’s Form 10-K, on file with the SEC, in the section titled “Risk Factors.” Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
Media contact: Becca McCarter, The E.W. Scripps Company, (513) 410-2425, rebecca.mccarter@scripps.com
Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 313-5910, carolyn.micheli@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 about 60 stations in 40 markets. Scripps reaches households across the U.S. with national news outlet Scripps News and popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. Scripps is one of the nation’s largest holders 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.”
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