Scripps Q2 revenue $540M, loss $0.59/sh; refinances $750M notes, swaps stations with Gray

E.W. SCRIPPS Co

2025-Q2 EPS reported -$0.81 revenue$1,064,473,000

Revenue $540M, down 5.8% YoY; loss attributable to shareholders $51.7M ($0.59/sh) vs $13M loss prior year.
Local Media revenue $335M (-8.3%), core ad -1.9%; Networks revenue $206M (-1.4%) but segment profit jumped 48% to $55.9M.
Closed $750M new 9.875% senior secured second-lien notes to retire 2027 notes, pay down debt; net leverage improved to 4.4x from 4.9x.
Announced station swap with Gray Media across five mid-sized/small markets; WNBA renewal on ION; Q3 guidance: Local Media revenue down mid-to-high 20% range.
No common dividend; preferred dividends unpaid cumulative $85.7M; next material maturity is 2028 term loan B-2.

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