Scripps Reports Mixed Q4 2025 Results Amid Transformation Push
Event summary
- Scripps reported $560 million in Q4 2025 revenue, down 23% YoY, with a net loss of $44.9 million.
- Core advertising revenue in Local Media rose 12%, driven by strong local sports partnerships.
- The company launched a transformation plan targeting $125-$150 million in annualized EBITDA growth by 2028.
- Scripps plans to re-acquire 23 ION-affiliated stations for approximately $54 million, pending FCC approval.
- The company expects record political advertising spending in the 2026 midterm election cycle.
The big picture
Scripps is navigating a challenging period with declining revenue but sees opportunities in political advertising and strategic transformations. The company's focus on leveraging technology, including AI and automation, to drive cost savings and revenue growth reflects broader industry trends towards digital transformation in media. The success of its transformation plan will be critical in improving its financial performance and leverage ratio.
What we're watching
- Transformation Execution
- The pace at which Scripps can implement its transformation plan and realize the targeted EBITDA growth.
- Political Advertising Impact
- How the record-setting political advertising spending in the 2026 midterm election cycle will affect Scripps' revenue.
- Regulatory Approvals
- Whether Scripps can secure FCC approval for the re-acquisition of ION-affiliated stations and other strategic transactions.