secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0000832428-24-000012
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01, 99.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps reports Q4 loss of $3.17/share on $616M revenue; $266M goodwill impairment
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- Q4 net loss $268M ($3.17/sh); $266M goodwill impairment & $9.4M restructuring charges.
- Revenue down 9.6% YoY to $616M; Local Media core ad +1%, distribution +22%; Networks revenue -7.1%.
- Not declaring Q1 2024 preferred dividend to preserve liquidity for deleveraging; total debt $3B, cash $35.3M.
- Q1 2024 guidance: Local Media revenue up low teens; Networks flat to down low single-digit; FY capex $70-80M, interest $200-210M.
- New NWSL rights deal for 4 seasons; NHL deals to add 3pts to core ad in 2024; cost savings >$40M annualized by mid-2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000012/0000832428-24-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000012/ssp-20240223.htm
  HTML page:      https://secwatch.observer/filing/0000832428-24-000012

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