Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of information regarding business segments

Information regarding our segments is as follows:


	Three Months Ended June 30, 2025
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	330,072	$	205,765	$	535,837
Intersegment revenues	4,694		—		4,694
Reportable segments revenues	334,766		205,765		540,531
Other revenues(a)					4,243
Intersegment eliminations					(4,694)
Total consolidated operating revenues					$	540,080
Less:(b)
Employee compensation and benefits	104,315		21,956
Programming(c)	129,153		88,837
Other segment items(d)	45,477		39,024
Segment profit for reportable segments	55,821		55,948		$	111,769
Other segment profit (loss)(a)					(6,979)
Shared services and corporate					(21,785)
Restructuring costs					(613)
Depreciation and amortization of intangible assets					(37,198)

Gains (losses), net on disposal of property and equipment					31,410
Interest expense					(58,653)
Loss on extinguishment of debt					(2,972)
Other financing transaction costs					(38,071)
Defined benefit pension plan income (expense)					(337)
Miscellaneous, net					(1,683)
Income (loss) from operations before income taxes					$	(25,112)

(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments.

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(c) Programming includes the cost of national television network programming, carriage agreements with local television broadcasters, programming produced by us or for us by independent production companies, rights acquired under multi-year sports programming agreements and programs licensed under agreements with independent producers.

(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.


	Three Months Ended June 30, 2024
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	360,163	$	208,720	$	568,883
Intersegment revenues	4,763		—		4,763
Reportable segments revenues	364,926		208,720		573,646
Other revenues(a)					4,746
Intersegment eliminations					(4,763)
Total consolidated operating revenues					$	573,629
Less:(b)
Employee compensation and benefits	105,569		29,781
Programming(c)	123,112		98,474
Other segment items(d)	48,115		42,718
Segment profit for reportable segments	88,130		37,747		$	125,877
Other segment profit (loss)(a)					(9,236)
Shared services and corporate					(21,651)
Restructuring costs					(973)
Depreciation and amortization of intangible assets					(38,468)

Gains (losses), net on disposal of property and equipment					157
Interest expense					(52,123)
Defined benefit pension plan income (expense)					177
Miscellaneous, net					(419)
Income (loss) from operations before income taxes					$	3,341

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.


	Six Months Ended June 30, 2025
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	650,778	$	403,772	$	1,054,550
Intersegment revenues	9,377		—		9,377
Reportable segments revenues	660,155		403,772		1,063,927
Other revenues(a)					9,923
Intersegment eliminations					(9,377)
Total consolidated operating revenues					$	1,064,473
Less:(b)
Employee compensation and benefits	209,484		42,829
Programming(c)	268,850		165,247
Other segment items(d)	91,081		75,655
Segment profit for reportable segments	90,740		120,041		$	210,781
Other segment profit (loss)(a)					(13,384)
Shared services and corporate					(44,391)
Restructuring costs					(4,757)
Depreciation and amortization of intangible assets					(75,658)

Gains (losses), net on disposal of property and equipment					31,488
Interest expense					(102,403)
Loss on extinguishment of debt					(2,972)
Other financing transaction costs					(38,071)
Defined benefit pension plan income (expense)					(675)
Miscellaneous, net					(1,527)
Income (loss) from operations before income taxes					$	(41,569)

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.


	Six Months Ended June 30, 2024
(in thousands)	Local Media		Scripps Networks		Total

Revenues from external customers	$	708,236	$	417,998	$	1,126,234
Intersegment revenues	9,526		—		9,526
Reportable segments revenues	717,762		417,998		1,135,760
Other revenues(a)					8,859
Intersegment eliminations					(9,526)
Total consolidated operating revenues					$	1,135,093
Less:(b)
Employee compensation and benefits	212,295		59,762
Programming(c)	253,856		187,636
Other segment items(d)	97,925		83,199
Segment profit for reportable segments	153,686		87,401		$	241,087
Other segment profit (loss)(a)					(15,633)
Shared services and corporate					(43,226)
Restructuring costs					(5,988)
Depreciation and amortization of intangible assets					(77,156)

Gains (losses), net on disposal of property and equipment					10
Interest expense					(107,040)
Defined benefit pension plan income (expense)					354
Miscellaneous, net					16,402
Income (loss) from operations before income taxes					$	8,810

(b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

(d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.

Other segment disclosures are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024

Depreciation:
Local Media	$	9,313	$	10,153	$	18,921	$	20,186
Scripps Networks	4,908		4,719		9,796		9,544
Total depreciation for reportable segments	14,221		14,872		28,717		29,730
Other	52		70		98		130
Shared services and corporate	370		208		732		410
Total depreciation	$	14,643	$	15,150	$	29,547	$	30,270
Amortization of intangible assets:
Local Media	$	8,131	$	8,716	$	16,681	$	17,661
Scripps Networks	12,976		12,976		25,953		25,953
Total amortization of intangible assets for reportable segments	21,107		21,692		42,634		43,614
Other	164		445		521		896
Shared services and corporate	1,284		1,181		2,956		2,376
Total amortization of intangible assets	$	22,555	$	23,318	$	46,111	$	46,886
Additions to property and equipment:
Local Media	$	10,965	$	17,943	$	12,171	$	33,404
Scripps Networks	1,424		4,138		1,921		6,454
Total additions to property and equipment for reportable segments	12,389		22,081		14,092		39,858
Other	—		609		—		727
Shared services and corporate	253		459		404		461
Total additions to property and equipment	$	12,642	$	23,149	$	14,496	$	41,046

Schedule of disaggregation of principal revenue generating activities

A disaggregation of the principal activities from which we generate revenue is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024

Operating revenues:
Core advertising	$	332,426	$	336,502	$	655,014	$	670,292
Political	3,104		29,479		6,366		45,447
Distribution	195,404		199,599		384,328		402,159
Other	9,146		8,049		18,765		17,195
Total operating revenues	$	540,080	$	573,629	$	1,064,473	$	1,135,093

Total assets by segment were as follows :


(in thousands)	As of June 30, 2025		As of December 31, 2024

Assets:
Local Media	$	2,281,357	$	2,323,964
Scripps Networks	2,661,251		2,753,971
Total assets by reportable segments	4,942,608		5,077,935
Other(a)	34,846		34,800
Shared services and corporate	110,283		85,840


Total assets	$	5,087,737	$	5,198,575

(a) Reflects assets of operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units.