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:  0000832428-24-000013
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

E.W. Scripps to skip Q1 2024 preferred dividend to accelerate deleveraging
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- Skipped Q1 2024 dividend on 6,000 shares of Series A preferred (face value $100k each); dividend rate increases to 9% from 8%.
- Company says it has sufficient liquidity to pay the dividend but is prioritizing deleveraging and paydown of traditional bank debt.
- Preferred shares are perpetual; redeemable at 105% of face value beginning fifth anniversary (2026) or upon change of control.
- Action taken to improve flexibility for accelerating debt reduction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000013/0000832428-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000013/ssp-20240223.htm
  HTML page:      https://secwatch.observer/filing/0000832428-24-000013

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