Assets Held for Sale

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

On September 3, 2025, we reached an agreement to sell WFTX, our local Fox-affiliated station in Fort Myers, Florida, for $40.0 million. The transaction has received necessary approval and is expected to close on March 2, 2026.

In October 2025, we reached agreement to sell WRTV, our local ABC-affiliated station in Indianapolis, Indiana, for $83.0 million. The transaction has received necessary approval and is expected to close by March 6, 2026.

In the fourth quarter of 2025, we committed to the sale of Court TV and closed on the sale of the network on February 9, 2026. We recognized a $19.5 million non-cash charge in the fourth quarter, reflecting the difference between the carrying value of Court TV's net assets and the transaction consideration. With the sale, we also entered into a 3-year distribution agreement at market rates with the buyer. The distribution agreement provides for the continued carriage of Court TV on Scripps properties.

The following table presents a summary of the assets and liabilities held for sale included in our Consolidated Balance Sheet as of December 31, 2025.


(in thousands)	WFTX		WRTV		Court TV		Total

Assets:
Total current assets	$	—	$	—	$	4,467	$	4,467
Property and equipment	11,585		6,228		78		17,891
Goodwill and intangible assets	25,347		48,290		3,884		77,521
Operating lease right-of-use assets	151		—		—		151
Other assets	523		452		21,386		22,361
Adjustment to carrying value to reflect estimated fair value less cost to sell	—		—		(19,458)		(19,458)
Total assets held for sale	37,606		54,970		10,357		102,933
Liabilities:
Total current liabilities	274		194		3,357		3,825
Operating lease liabilities	115		—		—		115
Other liabilities	2,969		154		—		3,123
Total liabilities held for sale	3,358		348		3,357		7,063
Net assets held for sale	$	34,248	$	54,622	$	7,000	$	95,870

Pending Transaction

On July 7, 2025, we entered into agreements with Gray Media, Inc. ("Gray"), to swap television stations across five markets. Upon completion of the transactions, we will acquire Gray's KKTV (CBS) in Colorado Springs, Colorado; KKCO (NBC) and low power station KJCT-LP (ABC) in Grand Junction, Colorado; and KMVT (CBS) and low power station KSVT-LD (Fox) in Twin Falls, Idaho. Gray will be acquiring WSYM (Fox) in Lansing, Michigan, and KATC (ABC) in Lafayette, Louisiana. The swap involves the exchange of comparable assets. As a result, neither company will pay cash consideration to the other. The transaction will close upon satisfaction of closing conditions and necessary regulatory approvals.