The E.W. Scripps Company reported a second-quarter 2026 net loss of $1.2 billion, driven by a $1.1 billion non-cash goodwill and intangible asset impairment in its Scripps Networks business. Revenue fell 9.2% year over year to $490 million, with Local Media revenue down 5.4% to $317 million and Scripps Networks revenue down 16% to $172 million. Local political advertising reached a second-quarter record of $28 million, and the company now projects full-year political revenue between $225 million and $250 million. Scripps is targeting $125 million to $150 million of enterprise EBITDA growth by 2028 and expects approximately $100 million of annual run-rate cost savings by the end of 2026. Retransmission disputes with Comcast and DirecTV reduced distribution revenue by $26.7 million during the quarter, while the company continues to face pressure from weak national advertising and declining linear audiences.
E. W. Scripps Co Class AScripps reported a $1.2 billion net loss due to a $1.1 billion impairment charge, with revenue declining across segments.
Comcast CorpRetransmission dispute with Comcast reduced Scripps' distribution revenue, indicating a negative impact on Comcast's relationship with Scripps.
