Scripps sees dip in revenue as networks division reports stronger profit

The E.W. Scripps Company’s second-quarter results largely followed trends of other major TV station and media companies, reporting a 5.8% decline in overall revenue.

The company registered $540 million in revenue in the second quarter of 2025, down $33.5 million. 

“In both our Local Media and Scripps Networks divisions, we continue to benefit from our Scripps Sports strategy. Our vision three years ago was to capitalize on the emerging popularity of women’s sports and to take advantage of the demise of the regional sports networks by leveraging our ability to reach viewers with free, over-the-air TV as well as on streaming and on cable and satellite,” said CEO Adam Symson, in a statement. 

Scripps Sports produces content for both its local TV stations and digital multicasting assets. 

All told, the company’s local media division saw an 8.3% dip in revenue to $335 million, driven by a 1.9% drop in core advertising revenue, to $137 million, and a just over 90% decline in political ad revenue.

Political spends brought in just $2.6 million, a decline that is all but expected in odd years without key elections. Other station groups have reported similar declines.

Distribution revenue was also down, but by just $1 million, to $193 million.

Local media saw expenses increase just shy of 1% to $279 million.

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All told, the division turned a profit of $193 million, just shy of the $194 million it reported in the second quarter of 2024.

Scripps Networks, meanwhile, which includes Bounce TV, Court TV, Grit, Laff, Scripps News and Ion Media, reported a 1.4% decline in revenue over the same quarter last year. 

However, the division was able to trim expenses, with those totals $150 million, down 12.4%, which largely contributed to a healthy increase in profits. The unit ended up making $55.9 million, a 32% increase over the $37.7 million in profit it made the same quarter in 2024.

Other key highlights, as provided by Scripps, include:

• On Aug. 6, Scripps closed on the placement of $750 million in new senior secured second-lien notes at a rate of 9.875%. Proceeds were used to pay off the company’s 2027 senior notes; pay down $205 million of its 2028 term loan B-2; and pay off a portion of its revolving credit facilities.
• On July 7, Scripps and Gray Media announced they had agreed to swap television stations across five mid-sized and small markets in four states, resulting in the creation of new duopolies for each group that will result in better local news coverage and stronger market financials.
• On June 13, Scripps and the WNBA announced an agreement on a new, multi-year renewal of their broadcast partnership for the WNBA Friday Night Spotlight on ION. The new agreement came after a 2024 season where average viewership on ION increased by 133% over 2023 and attracted more than 23 million unique viewers across games and wrap shows.
• In the Local Media division, sports played an important role in second-quarter core revenue performance, down only 1.9% despite economic uncertainty. The Stanley Cup playoffs featured two Scripps Sports teams: The Vegas Golden Knights and the Florida Panthers, who went on to win the Cup. The Indiana Pacers’ NBA Finals run also contributed and overall, the NBA on ABC delivered more than $5.5 million in revenue to the quarter.
• In the Scripps Networks division, the WNBA and National Women’s Soccer League programming on ION and connected TV/streaming revenue helped lift the division revenue to near-flat levels year over year, despite challenges in the general market due to economic uncertainty. The Networks division achieved a 9 percentage-point improvement in margin over the prior year and is on track to see a full-year lift of 4-6 percentage points in margin.
• The Scripps Howard Fund raised more than $125,000 from Scripps News and local station viewers, Scripps employees and the company and distributed it to six nonprofits supporting those impacted by the flooding of the Guadalupe River in Central Texas.
• Net leverage at the end of the second quarter was 4.4x, down a half-turn from 4.9x at the end of the first quarter