E.W. Scripps Co. Files 2023 Annual Report on Form 10-K

TL;DR

<b>E.W. Scripps Co. has submitted its annual 10-K filing for the fiscal year ended December 31, 2023, detailing financial performance and corporate information.</b>

AI Summary

E.W. SCRIPPS Co (SSP) filed a Annual Report (10-K) with the SEC on February 23, 2024. E.W. Scripps Co. filed its 10-K report for the fiscal year ending December 31, 2023. The company is classified under Television Broadcasting Stations (SIC 4833). Incorporated in Ohio, with its principal business address at 312 Walnut Street, Cincinnati, OH. The filing includes financial data for the fiscal years 2023, 2022, and 2021. Key financial statement elements such as common stock, preferred stock, retained earnings, and additional paid-in capital are detailed for multiple fiscal years.

Why It Matters

For investors and stakeholders tracking E.W. SCRIPPS Co, this filing contains several important signals. This 10-K filing provides a comprehensive overview of E.W. Scripps Co.'s financial health and operational status for the 2023 fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial statements and disclosures within the report are essential for understanding the company's revenue streams, asset base, liabilities, and equity structure, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — E.W. SCRIPPS Co shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the absence of specific financial performance highlights (like revenue growth or net income figures) in the provided snippet means a deeper analysis of the full report would be needed to fully assess risk.

Analyst Insight

Review the full 10-K filing to analyze E.W. Scripps Co.'s detailed financial statements, including revenue breakdowns and net income, to understand its performance and identify potential investment opportunities or risks.

Revenue Breakdown

Key Numbers

• 20231231 — Fiscal Year End (Reported period)
• 20240223 — Filing Date (Date the report was submitted)
• 4833 — SIC Code (Standard Industrial Classification for Television Broadcasting Stations)
• OH — State of Incorporation (Ohio)

Key Players & Entities

• E.W. Scripps Co. (company) — Filer of the 10-K report
• 312 Walnut Street (location) — Business and mailing address
• Cincinnati (location) — City for business and mailing address
• OH (location) — State for business and mailing address
• 45202 (postal_code) — ZIP code for business and mailing address
• 1934 Act (regulation) — Securities Exchange Act under which the filing is made
• 20231231 (date) — Fiscal year end date
• 20240223 (date) — Filing date

FAQ

Risk Factors

• Regulatory Compliance [medium — regulatory]: The company operates under various broadcast regulations, which could impact its business if not adhered to.
• Market Competition [medium — market]: The broadcasting industry is competitive, and E.W. Scripps Co. faces competition from other media companies.
• Technological Changes [medium — operational]: Rapid changes in technology within the media and broadcasting sector could require significant investment and adaptation.

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share SSP NASDAQ Global Select Mark
• $40 million — te this effort will result in more than $40 million in annual savings, of which $20 million
• $20 million — $40 million in annual savings, of which $20 million of the annualized savings was achieved

Filing Documents

• ssp-20231231.htm (10-K) — 2297KB
• ex1010-theewscrippscompany.htm (EX-10.10) — 33KB
• ex1011-employeerestricteds.htm (EX-10.11) — 47KB
• ex1012-theewscrippscompany.htm (EX-10.12) — 48KB
• ex19-ewscrippscompanyinsid.htm (EX-19) — 32KB
• ssp-ex2120231231x10k.htm (EX-21) — 3KB
• ssp-ex2320231231x10xk.htm (EX-23) — 2KB
• ssp-ex31a20231231x10k.htm (EX-31.A) — 9KB
• ssp-ex31b20231231x10k.htm (EX-31.B) — 10KB
• ssp-ex32a20231231x10k.htm (EX-32.A) — 4KB
• ssp-ex32b20231231x10k.htm (EX-32.B) — 4KB
• ex97-ewscrippscompanycompe.htm (EX-97) — 18KB
• image_0.jpg (GRAPHIC) — 12KB
• image_0a.jpg (GRAPHIC) — 27KB
• image_0c.jpg (GRAPHIC) — 10KB
• image_3a.jpg (GRAPHIC) — 11KB
• image_4a.jpg (GRAPHIC) — 10KB
• image_5a.jpg (GRAPHIC) — 9KB
• image_6a.jpg (GRAPHIC) — 10KB
• image_7a.jpg (GRAPHIC) — 18KB
• ssp-20231231_g1.jpg (GRAPHIC) — 358KB
• ssp-20231231_g2.jpg (GRAPHIC) — 46KB
• 0000832428-24-000015.txt (&nbsp;) — 14564KB
• ssp-20231231.xsd (EX-101.SCH) — 86KB
• ssp-20231231_cal.xml (EX-101.CAL) — 162KB
• ssp-20231231_def.xml (EX-101.DEF) — 561KB
• ssp-20231231_lab.xml (EX-101.LAB) — 1208KB
• ssp-20231231_pre.xml (EX-101.PRE) — 822KB
• ssp-20231231_htm.xml (XML) — 2095KB

Forward-Looking Statements

Forward-Looking Statements 3 PART I 1. Business 4 1A. Risk Factors 15 1B. Unresolved Staff Comments 22 1C. Cybersecurity 22 2. Properties 23 3. Legal Proceedings 23 4. Mine Safety Disclosures 23 Executive Officers of the Company 24 PART II 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 6. [Reserved] 25 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25 7A. Quantitative and Qualitative Disclosures About Market Risk 25 8. Financial Statements and Supplementary Data 26 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 26 9A. Controls and Procedures 26 9B. Other Information 26 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 26 PART III 10. Directors, Executive Officers and Corporate Governance 26 11. Executive Compensation 26 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 26 13. Certain Relationships and Related Transactions, and Director Independence 27 14. Principal Accounting Fees and Services 27 PART IV 15. Exhibits and Financial Statement Schedules 27 16. Form 10-K Summary 27 2 As used in this Annual Report on Form 10-K, the terms "Scripps," "Company," "we," "our" or "us" may, depending on the context, refer to The E.W. Scripps Company, to one or more of its consolidated subsidiary companies, or to all of them taken as a whole. Additional Information Our Company website is http://www.scripps.com. Copies of all of our SEC filings filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge on this website as soon as reasonably practicable after we electronically file the material with, or furnish it to, the SEC. Our website also includes copies of the charters for our Compensation & Talent Management,

Forward-Looking Statements

Forward-Looking Statements Our Annual Report on Form 10-K contains certain forward-looking statements related to the Company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. Such forward-looking statements are made as of the date of this document and should be evaluated with the understanding of their inherent uncertainty. A detailed discussion of principal risks and uncertainties that may cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors." The Company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made. 3 PART I

Business

Item 1. Business Founded in 1878, The E.W. Scripps Company motto is "Give light and the people will find their own way." Our mission is to do well by doing good — creating value for customers, employees and owners by informing, engaging and empowering those we serve. We serve audiences and businesses through a portfolio of more than 60 local television stations in more than 40 markets and national news and entertainment networks. Our local stations have programming agreements with ABC, NBC, CBS, FOX and the CW. The Scripps Networks reach nearly every American through national news outlets Scripps News and Court TV and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery and Laff. Effective in January 2023, we merged our nationally focused news resources into a national outlet called Scripps News. Scripps News combines the development and distribution of Newsy programming, the Local Media national desk and our award-winning investigative reporting newsroom in Washington, D.C. into one coordinated organization. The combined operation more efficiently serves national audiences and our local television stations. We also serve as the longtime steward of one of the nation's largest, most successful and longest-running educational programs, the Scripps National Spelling Bee. Additionally, we produce a television viewing device called Tablo that allows households to watch and record dozens of free, over-the-air and streaming channels anywhere in their home without a subscription. For a full listing of our brands, visit http://www.scripps.com. Scripps is a leader in free, ad-supported television. All of our local stations and national networks reach consumers over the air, and all of our television brands can also be found on free streaming platforms. We have continued to expand in the fast-growing connected television marketplace, and we are leveraging our leadership position in the growing over-the-air marketplace. Currently, one in three non pay-TV hom

View Full Filing

View this 10-K filing on SEC EDGAR