Scripps reports fourth-quarter revenue of $560 million, posts net loss

The E.W. Scripps Co. reported fourth-quarter 2025 revenue of $560 million, down 23% from a year earlier, and posted a net loss attributable to shareholders of $44.9 million, or 51 cents per share.

In the prior-year quarter, the company reported income attributable to shareholders of $80.3 million, or 92 cents per share.

Fourth-quarter results included a $19.5 million non-cash charge related to held-for-sale Court TV assets, $2.4 million in restructuring costs and a $2.4 million loss on extinguishment of debt. Together, those items increased the quarterly loss by 20 cents per share.

Total costs and expenses for segments, shared services and corporate were $477 million, compared with $502 million in the year-ago period.

The company also announced a transformation plan targeting annualized enterprise EBITDA growth of $125 million to $150 million by 2028 through cost savings and revenue initiatives that include the use of artificial intelligence and automation. Scripps said financial benefits are expected to begin in the second half of 2026.

In the Local Media division, revenue declined 30% to $360 million. Core advertising revenue increased 12% to $165 million, while political advertising revenue totaled $9 million, compared with $174 million in the prior-year quarter, which included a midterm election cycle. Distribution revenue decreased 1.6% to $183 million.

Local Media segment expenses decreased 0.7% to $310 million, and segment profit was $50 million, compared with $199 million a year earlier.

Scripps Networks reported revenue of $199 million, down 7.7% from the prior-year quarter. Segment expenses declined 13% to $136 million, and segment profit increased to $63.5 million from $60.7 million.

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The company said it expects record political advertising spending during the 2026 midterm election cycle, with total spending forecast at nearly $11 billion. Scripps generated more than $200 million in political revenue during the 2022 midterms.

Scripps said it is exercising its option to re-acquire 23 Ion-affiliated stations previously divested to INYO Broadcast Holdings in 2021. The aggregate purchase price is approximately $54 million, subject to closing and Federal Communications Commission approval.

The company also expects to close on the sale of WFTX in Fort Myers, Florida, to Sun Broadcasting in early March and WRTV in Indianapolis to Circle City Broadcasting shortly thereafter, pending FCC approval. Combined proceeds from the sales are $123 million. Scripps has also announced plans to swap stations in five markets with Gray Media, subject to regulatory approval.

On Dec. 31, cash and cash equivalents totaled $27.9 million and total debt was $2.6 billion.

For the full year ended Dec. 31, revenue was $2.2 billion, down 14% from the prior year. The company reported a net loss attributable to shareholders of $164 million, or $1.87 per share, compared with net income of $87.6 million, or $1.01 per share, in 2024.

“We ended 2025 with strong financial results that met or exceeded expectations across the board and have entered 2026 with significant momentum,” Adam Symson, president and CEO of Scripps, said in a statement.

“The company transformation we announced on Feb. 11 targets annualized enterprise EBITDA growth of $125 million-$150 million by 2028,” he said.