Monitor the execution of the transformation plan and cost savings in H2 2026. The re-acquisition of stations is accretive but adds to debt. The CEO's large cash award ties management incentives to EBITDA growth targets.
Price Chart
Executive Summary
E.W. Scripps reported a significant revenue decline and net loss in Q4 2025, driven by a cyclical drop in political advertising. The company is launching a transformation plan targeting $125-$150 million in EBITDA growth by 2028, re-acquiring 23 ION-affiliated stations for $54 million, and extending CEO Adam Symson's contract with a $10 million performance-based cash award.
Key Financial Metrics
Key Facts
- Q4 2025 revenue was $560 million, down 23% YoY, with a net loss of $44.9 million
- Local Media revenue fell 30% YoY due to a $165 million drop in political advertising
- Company announced a transformation plan targeting $125-$150 million in annualized EBITDA growth by 2028
- Exercised options to re-acquire 23 ION-affiliated stations for $54 million
- CEO Adam Symson received a new employment agreement with a $10 million performance-based cash award
Financial Impact
Revenue down $168 million YoY, net loss of $44.9 million, $54 million acquisition of 23 stations
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Local Media | $360.0M | -30.0% |
| Scripps Networks | $199.0M | -7.7% |
Risk Factors
- Transformation plan may not achieve targeted EBITDA growth
- High debt levels ($2.6 billion) and interest costs ($180-$190 million in 2026)
- Dependence on cyclical political advertising revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000832428-26-000006 |
| Document: ssp-20260224.htm | 0000832428-26-000006 |
| Document: ssp-2025xex992.htm | 0000832428-26-000006 |
| Document: 0000832428-26-000006-index-headers.html | 0000832428-26-000006 |
| Document: 0000832428-26-000006-index.html | 0000832428-26-000006 |
| Document: 0000832428-26-000006.txt | 0000832428-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | SC 13G | $2.92 $2.84 | ▼ −2.74% | ▼ −2.60% | $2.00 (−31.51%) |
Aug 7, 2026 11w ago | 8-K | $3.32 $3.45 | ▼ −3.92% | ▼ −3.52% | $2.00 (+39.76%) |
Aug 1, 2026 12w ago | Press Release | $2.82 $3.33 | ▲ +18.09% | ▲ +16.06% | $2.00 (−29.08%) |
Jul 15, 2026 14w ago | Press Release | $3.09 $3.17 | ▲ +2.59% | ▲ +3.57% | $2.00 (−35.28%) |
Jul 13, 2026 15w ago | Press Release | $2.97 $3.10 | ▲ +4.38% | ▲ +5.16% | $2.00 (−32.66%) |
May 22, 2026 22w ago | Insider Cluster | $3.42 $3.44 | ▲ +0.58% | ▼ −0.63% | $2.00 (−41.52%) |
May 8, 2026 24w ago | 8-K | $4.54 $3.53 | ▲ +22.25% | ▲ +23.71% | $2.00 (+55.95%) |
May 6, 2026 24w ago | 8-K | $4.68 $3.48 | ▼ −25.64% | ▼ −27.15% | $2.00 (−57.26%) |
Apr 16, 2026 27w ago | Press Release | $4.78 $4.86 | ▲ +1.67% | ▲ +0.69% | $2.00 (−58.16%) |
Apr 14, 2026 28w ago | Press Release | $4.37 $4.93 | ▲ +12.81% | ▲ +11.42% | $2.00 (−54.23%) |
US Market Status
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