E.w. Scripps Company (the) · NASDAQ:SSP
E.w. Scripps Company (the) — The E.W. Scripps Company — Investor Presentation (December 2025)
30 slides from E.w. Scripps Company (the)'s investor presentation, December 2025
Slide 1: Scripps Investor Presentation November-December 2025
SCRIPPS INVESTOR PRESENTATION November-December 2025
Slide 2: Safe Harbor Disclosure
S A F E H A R B O R D I S C L O S U R E This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,”
Slide 3: Agenda
• Scripps financials at a glance • Q3 and other highlights • Our M&A successes and the regulatory environment • Our financial drivers AGENDA • Debt and leverage update • Our growth strategies
Slide 4: The E.W. Scripps Company: Financial Highlights at a Glance
THE E.W. SCRIPPS COMPANY: FINANCIAL HIGHLIGHTS AT A GLANCE NATIONAL REACH LOCAL REACH CAPITAL STRUCTURE Our eight national networks reach Our local stations reach 38% Net debt: $2.7 billion all U.S. TV households and can be of U.S. TV households (with UHF discount), found on every TV viewing platfor
Slide 5: Scripps Sports Is Bolstering Advertising Revenue and Helping Results Outperform
SCRIPPS SPORTS IS BOLSTERING ADVERTISING REVENUE AND HELPING SCRIPPS’ RESULTS OUTPERFORM OTHER BROADCASTERS • Revenue from the WNBA on ION nearly doubled in the 2025 season, even though Caitlin Clark was off the court for much of the season. In the advertising upfront, the WNBA commands premium ad r
Slide 6: Strong Quarterly Results, Strategic M&A, Continued Commitment to Leverage Reduction
STRONG QUARTERLY RESULTS, STRATEGIC M&A, CONTINUED COMMITMENT TO LEVERAGE REDUCTION HIGHLIGHT PROGRESS ON COMPANY’S PLAN K E Y R E C E N T A C C O M P L I S H M E N T S • Guided to strong fourth quarter local core revenue growth, buoyed by a new agreement with the National Hockey League’s Tampa Bay
Slide 7: Scripps Has a Long History of Creating Shareholder Value Through M&A
SCRIPPS HAS A LONG HISTORY OF CREATING SHAREHOLDER VALUE THROUGH M&A Purchased the four Katz multicast Added 15 stations in 10 Purchased ION to significantly Announced station swaps with Sold Stitcher/Midroll in 2020 networks for $292 million and, in markets to local media bolster Scripps’ spectrum
Slide 8: Progress on Operational Improvement Plan Gives Reason to Believe in Future Growth
SCRIPPS’ PROGRESS ON ITS OPERATIONAL IMPROVEMENT PLAN GIVES REASON TO BELIEVE IN THE COMPANY’S FUTURE GROWTH “We are delivering exactly what we have promised in recent years. “We are growing our sports and connected TV revenue streams. “We are closely managing expenses, resulting in improved margins
Slide 9: Enterprise Financial Overview: 2021-2024
ENTERPRISE FINANCIAL OVERVIEW: 2021-2024 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $- 2021A 2022A 2023A 2024A Local Media Revenue Scripps Networks Revenue Other Revenue Segment Profit $ in millions Our total company revenue and profit have held steady in recent years, despite the challenging industry
Slide 10: Financial Performance Drivers: Core Advertising
FINANCIAL PERFORMANCE DRIVERS: CORE ADVERTISING COMPONENTS OF CORE AD REVENUE, 2025 News 48.2% Sports 16.9% Prime 13.0% Daytime, Fringe, Access Hour, Misc. 21.9% KEY CORE ADVERTISING CATEGORIES, % OF TOTAL CORE Services 32% Automotive 15% Home Improvement 15% Retail 12% LOCAL NEWS VIEWING • Nearly 7
Slide 11: Financial Performance Drivers: Political
FINANCIAL PERFORMANCE DRIVERS: POLITICAL SCRIPPS POLITICAL REVENUE (LOCAL MEDIA) C O M M E N TA R Y $ in millions Industry $343 • Heightened polarization continues to drive political advertising spend. • Broadcast TV continues to capture the lion’s share of total spending (AdImpact). $267 • Key issu
Slide 12: Financial Performance Drivers: Distribution Revenue
FINANCIAL PERFORMANCE DRIVERS: DISTRIBUTION REVENUE HOUSEHOLDS RENEWING, HOUSEHOLDS RENEWING, NETWORK RENEWALS 2025 2026 ABC: Due mid-2026 25% 70% NBC: Completed year-end 2024 CBS: Three completed year-end 2024; six renewing end of 2026 Completed end of Q1 More than half in H1 FOX: Completed July 20
Slide 13: Financial Performance Drivers: Streaming/Connected TV
FINANCIAL PERFORMANCE DRIVERS: STREAMING/CONNECTED TV 13
Slide 14: Debt and Leverage Update
DEBT AND LEVERAGE UPDATE
Slide 15: Significant Progress Toward Leverage Reduction
SIGNIFICANT PROGRESS TOWARD LEVERAGE REDUCTION Total Debt 1 Commentary In $MM 2,940 2,822 • Significant cash flow generation driven by strong 2,643 2,435 2,422 political revenue and continued optimization of 2,327 expenses enabled Scripps to repay ~$330 million of debt in 2024. • Leverage at the end
Slide 16: Scripps' Capital Structure by Year, Post 2025 Refinancings
SCRIPPS’ CAPITAL STRUCTURE BY YEAR, POST 2025 REFINANCINGS Former Maturity Profile New Maturity Profile $545 $523 $426 $337 $523 $750 $450 $392 $340 $450 $392 $208 $338 $208 $70 $70 2025 2026 2027 2028 2029 2030 2031 2025 2026 2027 2028 2029 2030 2031 $ in millions Revolver Commit. A/R Facility Comm
Slide 17: Growth Strategies
GROWTH STRATEGIES
Slide 18: Growth Strategy #1: Improve Financial Performance of Local TV Station Group
SCRIPPS GROWTH STRATEGY #1: IMPROVE THE FINANCIAL PERFORMANCE AND STRENGTH OF THE SCRIPPS LOCAL TV STATION GROUP 18
Slide 19: With Deregulation, Scripps Is Taking Steps to Improve Local Media Group Financial Profile
WITH DEREGULATION, SCRIPPS IS TAKING SEVERAL STEPS TO IMPROVE THE LOCAL MEDIA GROUP FINANCIAL PROFILE Our station group M&A playbook includes a mix of these three things: 1. Selling some low-performing local TV stations to improve the Local Media division’s profitability. 2. Swapping stations with o
Slide 20: Growth Strategy #2: Quality Journalism, Local News Differentiation
SCRIPPS GROWTH STRATEGY #2: QUALITY JOURNALISM, LOCAL NEWS DIFFERENTIATION AND CREATING CONNECTION 20
Slide 21: Our Vision
our vision CREATING CONNECTION IS AT THE HEART OF THE VALUE WE DELIVER TO OUR AUDIENCES AND CUSTOMERS 21
Slide 22: Our Journalism Continues to Give Light and Receive National Recognition
OUR JOURNALISM CONTINUES TO GIVE LIGHT AND RECEIVE NATIONAL RECOGNITION 22
Slide 23: Growth Strategy #3: Scripps Sports
SCRIPPS GROWTH STRATEGY #3: SCRIPPS SPORTS 23
Slide 24: Local Sports Rights Drive New Audience Engagement and Revenue Growth
LOCAL SPORTS RIGHTS DRIVE NEW AUDIENCE ENGAGEMENT AND REVENUE GROWTH FOR LOCAL STATIONS The National Hockey League’s Florida Panthers: In October, Scripps began a multi-year agreement to locally broadcast preseason, regular season and round-one postseason games for the reigning Stanley Cup Champions
Slide 25: Commitment to Sports on ION Is Driving Scripps Networks/ION Opportunity
OUR COMMITMENT TO SPORTS ON ION IS DRIVING SCRIPPS NETWORKS/ION OPPORTUNITY The WNBA: Scripps’ Friday Night Spotlight on ION expanded the league’s audience by 30% and doubled Scripps’ revenue from the 2023 to 2024 seasons. On June 13, we announced we had renewed the WNBA with a new multi-year agreem
Slide 26: Growth Strategy #4: Continuous Improvement, Entrepreneurialism and Innovation
SCRIPPS GROWTH STRATEGY #4: CONTINUOUS IMPROVEMENT, ENTREPRENEURIALISM AND INNOVATION 26
Slide 27: Scripps' Strategic Approach to Using Artificial Intelligence
SCRIPPS’ STRATEGIC APPROACH TO USING ARTIFICIAL INTELLIGENCE We will harness the transformative power of AI to redefine our operations and become more durable while creating growth opportunities — those we know of today and those not yet conceived — for the enterprise. 27
Slide 28: Spectrum and Datacasting Are a Promising Growth Lever for Local Broadcast
SPECTRUM, AND IN PARTICULAR DATACASTING, IS A PROMISING GROWTH LEVER FOR THE LOCAL BROADCAST INDUSTRY Scripps’ station signals reach 72% of U.S. television households. This powerful broadcast spectrum reaches 74 million American homes. Our local and ION stations’ spectrum equals nearly 1.6 billion m
Slide 29: Questions + Discussion
QUESTIONS + DISCUSSION 29
Slide 30: Appendix: Non-GAAP Information
APPENDIX: NON-GAAP INFORMATION In addition to results prepared in accordance with GAAP, the company discusses adjusted EBITDA, a non-GAAP Three Months Ended Nine Months Ended performance measure that management and the company’s September 30, September 30, Board of Directors uses to evaluate the per
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