Restructuring Costs and Other Transactions

9 Months Ended

Sep. 30, 2025

Restructuring and Related Activities [Abstract]

Restructuring Costs and Other Transactions

Restructuring and Reorganization

In January 2023, we announced a strategic restructuring and reorganization of the Company to further leverage our strong position in the U.S. television ecosystem and propel our growth across new distribution platforms and emerging media marketplaces. The strategic reorganization, which was substantially completed by the end of the 2024 second quarter, created a leaner and more agile operating structure through the centralization of certain services and the consolidation of layers of management across our operating businesses and corporate office. We have continued to identify efficiency opportunities within the functional departments of our organization, which has resulted in additional restructuring charges since the end of 2024 second quarter.

On September 27, 2024, we announced plans to significantly reduce Scripps News' national network programming

beginning in the fourth quarter of 2024. As of November 15, 2024, Scripps News was no longer broadcast over the air, although it remained on streaming and digital platforms with weekday live coverage from the field. These restructuring activities resulted in the elimination of more than 200 jobs during 2024.

Restructuring costs in the third quarter of 2025 and 2024 totaled $2.7 million and $12.7 million, respectively. Year-to-date restructuring costs totaled $7.5 million and $18.7 million in 2025 and 2024, respectively. Restructuring costs in 2025 included severance charges of $4.2 million and operating lease exit costs of $2.1 million. Remaining restructuring costs in 2025 included outside consulting fees associated with the strategic reorganization efforts. In the third quarter of 2024, we incurred $10.9 million in severance charges related to the significant reduction of Scripps News' national news programming. Remaining restructuring costs in 2024 included severance charges and outside consulting fees associated with the strategic reorganization efforts.


Nine Months Ended September 30, 2025 and 2024 (in thousands)	Severance and Employee Benefits		Other Restructuring Charges		Total

Liability as of December 31, 2024	$	9,653	$	—	$	9,653
Net charges	4,236		3,239		7,475
Payments	(13,681)		(240)		(13,921)
Non-cash (a)	(208)		(1,397)		(1,605)
Liability as of September 30, 2025	$	—	$	1,602	$	1,602


Liability as of December 31, 2023	$	6,735	$	1,430	$	8,165
Net charges	17,553		1,100		18,653
Payments	(11,554)		(1,698)		(13,252)
Non-cash (a)	—		—		—
Liability as of September 30, 2024	$	12,734	$	832	$	13,566

(a) Represents share-based compensation costs and asset write-downs included in restructuring charges.

Other Transactions

On February 9, 2024, following the completed sale of Broadcast Music, Inc. ("BMI") to New Mountain Capital, we received $18.1 million in pre-tax cash proceeds for our equity ownership in BMI. We did not have any carrying value associated with our BMI investment. This gain was included in Miscellaneous, net for the nine months ended September 30, 2024.