secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0000832428-24-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01, 99.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps Q1 revenue up 6.4% to $561M, raises political ad guidance to $240-270M, exploring sale of Bounce network
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- Q1 net loss $12.8M ($0.15/share) vs loss $31.1M ($0.37) a year ago; adjusted per-share impact of investment gain and restructuring.
- Political ad revenue surged to $15.2M from $3.5M; full-year outlook raised from $210-250M to $240-270M.
- Exploring sale of Bounce TV network after inbound interest; Bounce revenue CAGR 14% since 2017 acquisition.
- Elected to defer preferred stock dividend for Q2 2024 and expects to continue deferring for rest of 2024.
- Local Media revenue $353M (+13%); Scripps Networks $209M (-3.3%); total debt $2.9B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000021/0000832428-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242824000021/ssp-20240509.htm
  HTML page:      https://secwatch.observer/filing/0000832428-24-000021

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