secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0000832428-23-000007
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01, 99.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps Q4 revenue up 9.4% to $681M; segment profit jumps 21%; restructuring for $40M savings
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- Q4 net income $73M ($0.84/share) vs $40.2M ($0.43) a year ago; political revenue $106M vs $11M.
- Local Media segment profit $152M (+85% YoY); Scripps Networks profit $80M (-25% YoY) on ad softness.
- Reorganization to save at least $40M/year; Lisa Knutson promoted to COO; Scripps Sports launched under Brian Lawlor.
- Full-year 2022 political revenue record $208M; distribution revenue $655M; CTV revenue grew ~40%, expects >$100M in 2023.
- Q1 2023 guidance: Local Media revenue down mid-single-digit %, Scripps Networks revenue down high-single-digit %.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242823000007/0000832428-23-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242823000007/ssp-20230224.htm
  HTML page:      https://secwatch.observer/filing/0000832428-23-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer