secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0000832428-25-000046
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01, 99.1
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242825000046/0000832428-25-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242825000046/ssp-20250807.htm
  HTML page:      https://secwatch.observer/filing/0000832428-25-000046

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