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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Information Regarding Business Segments | Information regarding our segments is as follows:
|  | Three Months Ended June 30, 2026
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 312,641 |  |  | $ | 171,902 |  |  | $ | 484,543 |
Intersegment revenues |  | 3,883 |  |  | — |  |  | 3,883 |
Reportable segments revenues |  | 316,524 |  |  | 171,902 |  |  | 488,426 |
Other revenues(a) |  |  |  |  |  | 5,858 |
Intersegment eliminations |  |  |  |  |  | (3,883) |
Total consolidated operating revenues |  |  |  |  |  | $ | 490,401 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 100,863 |  |  | 19,726 |  |  |
Programming(c) |  | 116,306 |  |  | 87,196 |  |  |
Other segment items(d) |  | 43,545 |  |  | 39,474 |  |  |
Segment profit for reportable segments |  | 55,810 |  |  | 25,506 |  |  | $ | 81,316 |
Other segment loss(a) |  |  |  |  |  | (4,539) |
Shared services and corporate |  |  |  |  |  | (27,531) |
Restructuring costs |  |  |  |  |  | (35,840) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (35,061) |
Impairment of goodwill and other intangible assets |  |  |  |  |  | (1,135,825) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | (59) |
Interest expense |  |  |  |  |  | (54,110) |
Loss on extinguishment of debt |  |  |  |  |  | (913) |
Other financing transaction costs |  |  |  |  |  | — |
Defined benefit pension plan expense |  |  |  |  |  | (734) |
Gains (losses) from sale of business |  |  |  |  |  | 8,872 |
Miscellaneous, net |  |  |  |  |  | (3,843) |
Loss from operations before income taxes |  |  |  |  |  | $ | (1,208,267) |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Programming includes the cost of national television network programming, carriage agreements with local television broadcasters, programming produced by us or for us by independent production companies, rights acquired under multi-year sports programming agreements and programs licensed under agreements with independent producers. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
|  | Three Months Ended June 30, 2025
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 330,072 |  |  | $ | 205,765 |  |  | $ | 535,837 |
Intersegment revenues |  | 4,694 |  |  | — |  |  | 4,694 |
Reportable segments revenues |  | 334,766 |  |  | 205,765 |  |  | 540,531 |
Other revenues(a) |  |  |  |  |  | 4,243 |
Intersegment eliminations |  |  |  |  |  | (4,694) |
Total consolidated operating revenues |  |  |  |  |  | $ | 540,080 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 104,315 |  |  | 21,956 |  |  |
Programming(c) |  | 129,153 |  |  | 88,837 |  |  |
Other segment items(d) |  | 45,477 |  |  | 39,024 |  |  |
Segment profit for reportable segments |  | 55,821 |  |  | 55,948 |  |  | $ | 111,769 |
Other segment loss(a) |  |  |  |  |  | (6,979) |
Shared services and corporate |  |  |  |  |  | (21,785) |
Restructuring costs |  |  |  |  |  | (613) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (37,198) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | 31,410 |
Interest expense |  |  |  |  |  | (58,653) |
Loss on extinguishment of debt |  |  |  |  |  | (2,972) |
Other financing transaction costs |  |  |  |  |  | (38,071) |
Defined benefit pension plan expense |  |  |  |  |  | (337) |
Miscellaneous, net |  |  |  |  |  | (1,683) |
Loss from operations before income taxes |  |  |  |  |  | $ | (25,112) |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Programming includes the cost of national television network programming, carriage agreements with local television broadcasters, programming produced by us or for us by independent production companies, rights acquired under multi-year sports programming agreements and programs licensed under agreements with independent producers. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
|  | Six Months Ended June 30, 2026
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 649,819 |  |  | $ | 347,929 |  |  | $ | 997,748 |
Intersegment revenues |  | 8,343 |  |  | — |  |  | 8,343 |
Reportable segments revenues |  | 658,162 |  |  | 347,929 |  |  | 1,006,091 |
Other revenues(a) |  |  |  |  |  | 9,521 |
Intersegment eliminations |  |  |  |  |  | (8,343) |
Total consolidated operating revenues |  |  |  |  |  | $ | 1,007,269 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 205,163 |  |  | 42,300 |  |  |
Programming(c) |  | 258,943 |  |  | 158,233 |  |  |
Other segment items(d) |  | 91,555 |  |  | 75,624 |  |  |
Segment profit for reportable segments |  | 102,501 |  |  | 71,772 |  |  | $ | 174,273 |
Other segment loss(a) |  |  |  |  |  | (10,615) |
Shared services and corporate |  |  |  |  |  | (54,165) |
Restructuring costs |  |  |  |  |  | (36,484) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (70,408) |
Impairment of goodwill and other intangible assets |  |  |  |  |  | (1,135,825) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | 450 |
Interest expense |  |  |  |  |  | (111,068) |
Loss on extinguishment of debt |  |  |  |  |  | (913) |
Defined benefit pension plan expense |  |  |  |  |  | (1,467) |
Gains (losses) from sale of business |  |  |  |  |  | 38,881 |
Miscellaneous, net |  |  |  |  |  | (5,374) |
Loss from operations before income taxes |  |  |  |  |  | $ | (1,212,715) |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Programming includes the cost of national television network programming, carriage agreements with local television broadcasters, programming produced by us or for us by independent production companies, rights acquired under multi-year sports programming agreements and programs licensed under agreements with independent producers. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs.
|  | Six Months Ended June 30, 2025
(in thousands) |  | Local Media |  | Scripps Networks |  | Total
Revenues from external customers |  | $ | 650,778 |  |  | $ | 403,772 |  |  | $ | 1,054,550 |
Intersegment revenues |  | 9,377 |  |  | — |  |  | 9,377 |
Reportable segments revenues |  | 660,155 |  |  | 403,772 |  |  | 1,063,927 |
Other revenues(a) |  |  |  |  |  | 9,923 |
Intersegment eliminations |  |  |  |  |  | (9,377) |
Total consolidated operating revenues |  |  |  |  |  | $ | 1,064,473 |
Less:(b) |  |  |  |  |  |
Employee compensation and benefits |  | 209,484 |  |  | 42,829 |  |  |
Programming(c) |  | 268,850 |  |  | 165,247 |  |  |
Other segment items(d) |  | 91,081 |  |  | 75,655 |  |  |
Segment profit for reportable segments |  | 90,740 |  |  | 120,041 |  |  | $ | 210,781 |
Other segment loss(a) |  |  |  |  |  | (13,384) |
Shared services and corporate |  |  |  |  |  | (44,391) |
Restructuring costs |  |  |  |  |  | (4,757) |
Depreciation and amortization of intangible assets |  |  |  |  |  | (75,658) |
Gains (losses), net on disposal of property and equipment |  |  |  |  |  | 31,488 |
Interest expense |  |  |  |  |  | (102,403) |
Loss on extinguishment of debt |  |  |  |  |  | (2,972) |
Other financing transaction costs |  |  |  |  |  | (38,071) |
Defined benefit pension plan expense |  |  |  |  |  | (675) |
Miscellaneous, net |  |  |  |  |  | (1,527) |
Loss from operations before income taxes |  |  |  |  |  | $ | (41,569) |
(a) Reflects revenues and profit (loss) from operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units. None of these operating segments have ever met any of the quantitative thresholds for determining reportable segments. (b) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (c) Programming includes the cost of national television network programming, carriage agreements with local television broadcasters, programming produced by us or for us by independent production companies, rights acquired under multi-year sports programming agreements and programs licensed under agreements with independent producers. (d) Other segment items for each reportable segment includes marketing and advertising expenses, research costs, certain occupancy costs and other administrative costs. Other segment disclosures are as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Depreciation: |  |  |  |  |  |  |  |
Local Media |  | $ | 9,008 |  |  | $ | 9,313 |  |  | $ | 17,868 |  |  | $ | 18,921 |
Scripps Networks |  | 3,822 |  |  | 4,908 |  |  | 7,806 |  |  | 9,796 |
Total depreciation for reportable segments |  | 12,830 |  |  | 14,221 |  |  | 25,674 |  |  | 28,717 |
Other |  | 89 |  |  | 52 |  |  | 179 |  |  | 98 |
Shared services and corporate |  | 368 |  |  | 370 |  |  | 719 |  |  | 732 |
Total depreciation |  | $ | 13,287 |  |  | $ | 14,643 |  |  | $ | 26,572 |  |  | $ | 29,547 |
Amortization of intangible assets: |  |  |  |  |  |  |  |
Local Media |  | $ | 7,394 |  |  | $ | 8,131 |  |  | $ | 15,069 |  |  | $ | 16,681 |
Scripps Networks |  | 12,940 |  |  | 12,976 |  |  | 25,880 |  |  | 25,953 |
Total amortization of intangible assets for reportable segments |  | 20,334 |  |  | 21,107 |  |  | 40,949 |  |  | 42,634 |
Other |  | 164 |  |  | 164 |  |  | 335 |  |  | 521 |
Shared services and corporate |  | 1,276 |  |  | 1,284 |  |  | 2,552 |  |  | 2,956 |
Total amortization of intangible assets |  | $ | 21,774 |  |  | $ | 22,555 |  |  | $ | 43,836 |  |  | $ | 46,111 |
Additions to property and equipment: |  |  |  |  |  |  |  |
Local Media |  | $ | 11,359 |  |  | $ | 10,965 |  |  | $ | 13,020 |  |  | $ | 12,171 |
Scripps Networks |  | 5,392 |  |  | 1,424 |  |  | 5,867 |  |  | 1,921 |
Total additions to property and equipment for reportable segments |  | 16,751 |  |  | 12,389 |  |  | 18,887 |  |  | 14,092 |
Other |  | — |  |  | — |  |  | — |  |  | — |
Shared services and corporate |  | 1 |  |  | 253 |  |  | 1 |  |  | 404 |
Total additions to property and equipment |  | $ | 16,752 |  |  | $ | 12,642 |  |  | $ | 18,888 |  |  | $ | 14,496 |
Schedule of Disaggregation of Revenue | A disaggregation of the principal activities from which we generate revenue is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Operating revenues: |  |  |  |  |  |  |  |
Core advertising |  | $ | 286,137 |  |  | $ | 332,426 |  |  | $ | 591,706 |  |  | $ | 655,014 |
Political |  | 29,683 |  |  | 3,104 |  |  | 39,780 |  |  | 6,366 |
Distribution |  | 163,917 |  |  | 195,404 |  |  | 356,280 |  |  | 384,328 |
Other |  | 10,664 |  |  | 9,146 |  |  | 19,503 |  |  | 18,765 |
Total operating revenues |  | $ | 490,401 |  |  | $ | 540,080 |  |  | $ | 1,007,269 |  |  | $ | 1,064,473 |
Total assets by segment were as follows :
(in thousands) |  | As of June 30, 2026 |  | As of December 31, 2025
Assets: |  |  |  |
Local Media |  | $ | 2,173,905 |  |  | $ | 2,297,873 |
Scripps Networks |  | 1,329,092 |  |  | 2,567,155 |
Total assets by reportable segments |  | 3,502,997 |  |  | 4,865,028 |
Other(a) |  | 29,404 |  |  | 32,759 |
Shared services and corporate |  | 113,556 |  |  | 110,841 |
Total assets |  | $ | 3,645,957 |  |  | $ | 5,008,628 |
(a) Reflects assets of operating segments below the reportable quantitative thresholds. These operating segments include our Tablo business, the Scripps National Spelling Bee and operational aspects of the Scripps News and Scripps Sports business units.

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