E.W. Scripps Company Reports $516.9 Million Revenue in Q1 2026, Faces Decline in Core Advertising

The E.W. Scripps Company reported a total operating revenue of $516.9 million for the first quarter of 2026, a decrease of 1.4% compared to $524.4 million in the same period of 2025. The decline was primarily driven by a $17 million drop in core advertising revenue, which was partially offset by a $6.8 million increase in political advertising revenue and a $3.4 million rise in distribution revenue. The company's operating income for the quarter was $24.8 million, down from $27.5 million a year earlier, while the net loss attributable to shareholders was $18 million, or $0.20 per share, compared to a net loss of $18.8 million, or $0.22 per share, in the prior year.

In terms of operational changes, Scripps completed several significant transactions during the quarter, including the sale of its local broadcast stations WFTX in Fort Myers, Florida, and WRTV in Indianapolis, Indiana, generating $127 million in cash proceeds. The company also recognized a pre-tax gain of $30 million from these sales. Additionally, Scripps announced an enterprise-wide transformation plan aimed at achieving annualized EBITDA growth of $125 million to $150 million by 2028, with an expected improvement of about $75 million by the end of 2026.

The company’s Local Media segment saw a revenue increase of 5% to $341.6 million, driven by a rise in core advertising and political revenues. In contrast, the Scripps Networks segment experienced an 11.1% decline in revenue to $176 million, attributed to lower advertising revenues and audience ratings. Employee compensation costs increased in both segments, with the Local Media segment reporting a slight decrease in overall employee compensation due to a reduction in headcount, while the Scripps Networks segment saw an 8.1% rise in compensation costs.

Looking ahead, Scripps has entered into a multi-year media rights agreement with the Nashville Predators and launched the Scripps Sports Network, a free ad-supported streaming channel. The company also plans to acquire WTVQ, the ABC affiliate in Lexington, Kentucky, for $15.8 million, pending regulatory approvals. As of March 31, 2026, Scripps had $83.7 million in cash and cash equivalents, with additional borrowing capacity of $179 million under its revolving credit facility and accounts receivable securitization facility, indicating a stable liquidity position to support its ongoing operations and strategic initiatives.