Scripps offers $650M notes; preliminary Q2 net loss up to $38.4M, revenue down ~6%

E.W. SCRIPPS Co

Preliminary Q2 2025 net loss $33.6M-$38.4M vs prior year income $1.4M; revenue $538.5M-$541.7M from $573.6M.
Launches $650M senior secured second lien notes due 2030 to redeem 5.875% 2027 notes and prepay term loan B-2.
L8QA Consolidated EBITDA as of March 31, 2025: $541.1M, including $34.6M Scripps News OTA shutdown adjustment.
Scripps Networks segment profit margin >27%, up 900 bps YoY; expenses down 12%; political revenue fell to ~$3.1M.

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