E.w. Scripps Company (the) · NASDAQ:SSP

E.w. Scripps Company (the) — The E.W. Scripps Company — Investor Presentation (December 2024)

16 slides from E.w. Scripps Company (the)'s investor presentation, December 2024

  1. Slide 1: The E.W. Scripps Company Investor Presentation December 2024

    THE E.W. SCRIPPS COMPANY INVESTOR PRESENTATION DECEMBER 2024 G I V E L I G H T A N D T H E P E O P L E W I L L F I N D T H E I R O W N W A Y

  2. 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,”

  3. Slide 3: Scripps Brought in Record Revenue and Paid Down $115 Million of Debt in Third Quarter

    SCRIPPS BROUGHT IN RECORD REVENUE AND PAID DOWN $115 MILLION OF DEBT IN THE THIRD QUARTER Third-quarter highlights: • The company took in more than $340 million of 2024 presidential-year political advertising revenue in the Local Media division, a record level that far exceeded the guidance of $270-

  4. Slide 4: The Company Expects to Reduce Our Debt Ratio to Under 5x by Year End

    THE COMPANY EXPECTS TO REDUCE OUR DEBT RATIO TO UNDER 5X BY YEAR END Financial highlights: • Expect to pay down $300 million of debt in 2024 • Improved leverage ratio from 6x at the end of Q2 to 5.1x at the end of Q3 • Projected leverage ratio in the high 4x’s range by year-end • Signed letters of i

  5. Slide 5: Looking Ahead, We Expect to Benefit from Divestitures and Expense Management

    LOOKING AHEAD, WE EXPECT TO BENEFIT FROM DIVESTITURES AND EXPENSE MANAGEMENT Drivers of continued debt paydown and leverage reduction include: 1. Portfolio optimization/asset sales: We continue to move through a process to sell the Bounce TV network as well as to divest of some real estate holdings.

  6. Slide 6: Political, Retrans, Sports and Audience Reach Continue to Drive Our Business Forward

    POLITICAL, RETRANS, SPORTS AND AUDIENCE REACH CONTINUE TO DRIVE OUR BUSINESS FORWARD 1 Record Political Advertising Revenue Scripps’ spectrum reaches 72% of U.S. households 2 Robust Retransmission Revenue 3 Meaningful Upside From Securing Sports Rights 4 Diversified Distribution For an Evolving Cons

  7. Slide 7: Our Political Advertising Revenue Reached Another Record Level in 2024

    OUR POLITICAL ADVERTISING REVENUE REACHED ANOTHER RECORD LEVEL IN 2024 Scripps Political Revenue (Local Media) INDUSTRY $ in millions • Heightened polarization continues to drive political advertising spend ~$340 • Broadcast TV continues to capture the lion’s share (AdImpact) • Key issues on ballot

  8. Slide 8: Robust Retransmission Revenue Provides Strong Visibility and Growth

    ROBUST RETRANSMISSION REVENUE PROVIDES STRONG VISIBILITY AND GROWTH Scripps Retransmission Revenue MVPD Renewal Schedule $ in millions 2024 – 2026 $752 2024: ~5% of pay TV households up for renewal 2025: ~20% of pay TV households up for renewal 2026: ~75% of pay TV households up for renewal Network

  9. Slide 9: Securing Sports Rights Has Given Us Meaningful Contributions to Core; Upfront Ad Sales

    SECURING SPORTS RIGHTS HAS GIVEN US MEANINGFUL CONTRIBUTIONS TO CORE; UPFRONT AD SALES Local Sports is a cornerstone of local TV, driving viewership, core advertising and retransmission revenue. The WNBA: Scripps’ Friday Night Spotlight on ION expanded the league’s audience by 30% National Reach and

  10. Slide 10: We Provide Diversified Distribution to Meet Changing Consumer TV Viewing Habits

    WE PROVIDE DIVERSIFIED DISTRIBUTION TO MEET CHANGING CONSUMER TV VIEWING HABITS PLUS YouTubeTV     Samsung TV Plus        Vizio WatchFree+        Roku Channel        Xumo        Tubi        FuboTV        TCL        FreeVee        Pluto  

  11. Slide 11: Scripps Is the Largest Broadcaster by U.S. TV Household Reach

    SCRIPPS IS THE LARGEST BROADCASTER BY U.S. TV HOUSEHOLD REACH 72% 71.1% Local Media Group 62.4% U.S. Households % (w UHF Discount) 60+ Local U.S. Households Gross Reach % 42 Markets TV Stations 44.9% Scripps’ Local Media and ION stations, national networks 39.3% 38.6% reach nearly every U.S. TV hous

  12. Slide 12: Our Local Media and ION Stations Give Us the Nation's Largest Broadcast Spectrum Holdings

    OUR LOCAL MEDIA AND ION STATIONS GIVE US THE NATION’S LARGEST BROADCAST SPECTRUM HOLDINGS 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 megahertz per

  13. Slide 13: We Have Prioritized Using Cash Flow for Continued Debt Reduction

    WE HAVE PRIORITIZED USING CASH FLOW FOR CONTINUED DEBT REDUCTION TV Peers’ Discretionary Capital Allocation Since the ION Acquisition (1) Scripps Financial Policy $ in millions $1,272 $492 $203 $738 $689 • Capital allocation priority is to 19% 15% Leverage de-lever via excess cash flow 29% 26% 4% •

  14. Slide 14: We Have Made Significant Progress Toward Leverage Reduction

    WE HAVE MADE SIGNIFICANT PROGRESS TOWARD LEVERAGE REDUCTION Total Debt Commentary $ in millions $2,987 $2,944 $2,940 $2,822 • Significant cash flow generation driven by strong political and continued optimization of expenses will enable Scripps to repay about $300 million of debt this year and reduc

  15. Slide 15: Appendix: GAAP Reconciliation

    APPENDIX: GAAP RECONCILIATION 15

  16. Slide 16: Non-GAAP Information

    NON-GAAP INFORMATION In addition to results prepared in accordance with GAAP, the company discusses adjusted EBITDA, a non-GAAP performance measure that management and the company’s Board of Directors uses to evaluate the performance of the business. We also believe that the non-GAAP measure provide

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