secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0000832428-23-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01, 99.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps reports Q1 loss of $31.1M; revenue down 6.7% to $528M
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- Net loss $31.1M ($0.37/share) vs prior-year profit $9.8M; restructuring added $0.15/share.
- Revenue $528M, down 6.7% YoY; Local Media down 4.5%, Scripps Networks down 9.5%.
- Scripps Sports signs multi-year deals with WNBA (ION Friday Night Spotlight) and Vegas Golden Knights.
- Reorganization expected to save at least $40M annually; CTV revenue grew 46% YoY.
- Q2 guidance: Local Media revenue flat-to-up low singles; Networks revenue down high singles.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242823000015/0000832428-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242823000015/ssp-20230505.htm
  HTML page:      https://secwatch.observer/filing/0000832428-23-000015

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