v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We determine our operating segments based upon our management and internal reporting structure, as well as the basis that our chief operating decision maker makes resource-allocation decisions.
Our Local Media segment includes more than 60 local television stations and their related digital operations. It is comprised of 18 ABC affiliates, 12 NBC affiliates, 11 CBS affiliates and three FOX affiliates. We also have 13 independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunications companies, satellite carriers and over-the-top virtual MVPDs.

Our Scripps Networks segment includes national news outlet Scripps News as well as popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. The Scripps Networks reach nearly every U.S. television home through free over-the-air broadcast, cable/satellite, connected TV and/or digital distribution. These operations earn revenue primarily through the sale of advertising.
Our segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. The intercompany carriage fee revenue earned by our local broadcast television stations is equal to the carriage fee expense incurred by our national networks. We also allocate a portion of certain corporate costs and expenses, including accounting, human resources, employee benefit and information technology to our segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount.
The other segment caption aggregates our operating segments that are too small to report separately. Costs for centrally provided services and certain corporate costs that are not allocated to the segments are included in shared services and corporate costs. These unallocated corporate costs would also include the costs associated with being a public company. Corporate assets are primarily cash and cash equivalents, property and equipment primarily used for corporate purposes and deferred income taxes.

Our President and Chief Executive Officer is the Company's chief operating decision maker. He evaluates the monthly operating performance of our segments, including budget-to-actual variances, and makes decisions about the allocation of resources to our segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan amounts, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America.
Information regarding our segments is as follows:

Three Months Ended June 30, 2026
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$312,641 $171,902 $484,543 
Intersegment revenues3,883 — 3,883 
Reportable segments revenues316,524 171,902 488,426 
Other revenues(a)
5,858 
Intersegment eliminations(3,883)
Total consolidated operating revenues$490,401 
Less:(b)
Employee compensation and benefits100,863 19,726 
Programming(c)
116,306 87,196 
    Other segment items(d)
43,545 39,474 
Segment profit for reportable segments55,810 25,506 $81,316 
Other segment loss(a)
(4,539)
Shared services and corporate(27,531)
Restructuring costs(35,840)
Depreciation and amortization of intangible assets(35,061)
Impairment of goodwill and other intangible assets(1,135,825)
Gains (losses), net on disposal of property and equipment(59)
Interest expense(54,110)
Loss on extinguishment of debt(913)
Other financing transaction costs— 
Defined benefit pension plan expense(734)
Gains (losses) from sale of business8,872 
Miscellaneous, net(3,843)
Loss from operations before income taxes$(1,208,267)
(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, 2025
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$330,072 $205,765 $535,837 
Intersegment revenues4,694 — 4,694 
Reportable segments revenues334,766 205,765 540,531 
Other revenues(a)
4,243 
Intersegment eliminations(4,694)
Total consolidated operating revenues$540,080 
Less:(b)
Employee compensation and benefits104,315 21,956 
Programming(c)
129,153 88,837 
    Other segment items(d)
45,477 39,024 
Segment profit for reportable segments55,821 55,948 $111,769 
Other segment loss(a)
(6,979)
Shared services and corporate(21,785)
Restructuring costs(613)
Depreciation and amortization of intangible assets(37,198)
Gains (losses), net on disposal of property and equipment31,410 
Interest expense(58,653)
Loss on extinguishment of debt(2,972)
Other financing transaction costs(38,071)
Defined benefit pension plan expense(337)
Miscellaneous, net(1,683)
Loss from operations before income taxes$(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.
Six Months Ended June 30, 2026
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$649,819 $347,929 $997,748 
Intersegment revenues8,343 — 8,343 
Reportable segments revenues658,162 347,929 1,006,091 
Other revenues(a)
9,521 
Intersegment eliminations(8,343)
Total consolidated operating revenues$1,007,269 
Less:(b)
Employee compensation and benefits205,163 42,300 
Programming(c)
258,943 158,233 
    Other segment items(d)
91,555 75,624 
Segment profit for reportable segments102,501 71,772 $174,273 
Other segment loss(a)
(10,615)
Shared services and corporate(54,165)
Restructuring costs(36,484)
Depreciation and amortization of intangible assets(70,408)
Impairment of goodwill and other intangible assets(1,135,825)
Gains (losses), net on disposal of property and equipment450 
Interest expense(111,068)
Loss on extinguishment of debt(913)
Defined benefit pension plan expense(1,467)
Gains (losses) from sale of business38,881 
Miscellaneous, net(5,374)
Loss from operations before income taxes$(1,212,715)
(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.
Six Months Ended June 30, 2025
(in thousands)Local Media Scripps NetworksTotal
Revenues from external customers$650,778 $403,772 $1,054,550 
Intersegment revenues9,377 — 9,377 
Reportable segments revenues660,155 403,772 1,063,927 
Other revenues(a)
9,923 
Intersegment eliminations(9,377)
Total consolidated operating revenues$1,064,473 
Less:(b)
Employee compensation and benefits209,484 42,829 
Programming(c)
268,850 165,247 
    Other segment items(d)
91,081 75,655 
Segment profit for reportable segments90,740 120,041 $210,781 
Other segment loss(a)
(13,384)
Shared services and corporate(44,391)
Restructuring costs(4,757)
Depreciation and amortization of intangible assets(75,658)
Gains (losses), net on disposal of property and equipment31,488 
Interest expense(102,403)
Loss on extinguishment of debt(2,972)
Other financing transaction costs(38,071)
Defined benefit pension plan expense(675)
Miscellaneous, net(1,527)
Loss from operations before income taxes$(41,569)
(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.
Other segment disclosures are as follows:
Three Months Ended 
June 30,		Six Months Ended 
June 30,
(in thousands)2026202520262025
Depreciation:
Local Media$9,008 $9,313 $17,868 $18,921 
Scripps Networks3,822 4,908 7,806 9,796 
Total depreciation for reportable segments12,830 14,221 25,674 28,717 
Other89 52 179 98 
Shared services and corporate368 370 719 732 
Total depreciation$13,287 $14,643 $26,572 $29,547 
Amortization of intangible assets:
Local Media$7,394 $8,131 $15,069 $16,681 
Scripps Networks12,940 12,976 25,880 25,953 
Total amortization of intangible assets for reportable segments20,334 21,107 40,949 42,634 
Other164 164 335 521 
Shared services and corporate1,276 1,284 2,552 2,956 
Total amortization of intangible assets$21,774 $22,555 $43,836 $46,111 
Additions to property and equipment:
Local Media$11,359 $10,965 $13,020 $12,171 
Scripps Networks5,392 1,424 5,867 1,921 
Total additions to property and equipment for reportable segments16,751 12,389 18,887 14,092 
Other— — — — 
Shared services and corporate1 253 1 404 
Total additions to property and equipment$16,752 $12,642 $18,888 $14,496 


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)2026202520262025
Operating revenues:
Core advertising$286,137 $332,426 $591,706 $655,014 
Political29,683 3,104 39,780 6,366 
Distribution163,917 195,404 356,280 384,328 
Other10,664 9,146 19,503 18,765 
Total operating revenues$490,401 $540,080 $1,007,269 $1,064,473 
Total assets by segment were as follows :
(in thousands)As of 
June 30, 
2026		As of 
December 31, 
2025
Assets:
Local Media$2,173,905 $2,297,873 
Scripps Networks1,329,092 2,567,155 
Total assets by reportable segments3,502,997 4,865,028 
Other(a)
29,404 32,759 
Shared services and corporate113,556 110,841 
Total assets$3,645,957 $5,008,628 
(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.