Resources For TV Channel Developers

DATE

Friday, May 8, 2026 at 9:30 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Adam P. Symson
• Executive Vice President & Chief Financial Officer — Jason P. Combs

TAKEAWAYS

• Net Leverage — 3.9 times, down from prior periods, reflecting transformation plan pro forma adjustments in credit agreement calculations.
• Local Media Revenue — $331 million, up 5.8%, with 7% core advertising growth driven mainly by live sports and partnership with the Tampa Bay Lightning.
• Segment Profit (Local Media) — $44 million, up from $32 million, reflecting higher core advertising and controlled expense growth.
• Political Advertising Revenue — Nearly $9 million, benefitting from proximity to the midterm election cycle and strategic exposure in battleground states.
• Distribution Revenue (Local Media) — Up 2% on a same-station basis.
• Expenses (Local Media) — Increased 2.4%; excluding new NHL team deal, expenses were flat.
• Local Media Guidance — Second-quarter revenue expected up low single digits; core advertising guided down low single digits due to reduced live sports exposure.
• Comcast Carriage Impasse — Q2 gross distribution revenue will be impacted by a March 31–May 5 impasse; full-year gross distribution revenue still expected to grow low single digits, with net distribution revenue guided to low double digits.
• Scripps Networks Revenue — $174 million, down 9.5%, with a 26% increase in Connected TV revenue, adjusted for Court TV sale.
• Scripps Networks Segment Profit — $47.5 million, down from $66.8 million, reflecting softer ad markets and measurement headwinds.
• Expenses (Scripps Networks) — Up 1% year over year.
• Scripps Networks Q2 Guidance — Revenue guided down about 10%, citing macroeconomic conditions, direct response market weakness, and reduced impressions due to Nielsen methodology changes.
• Cash Position — Cash and cash equivalents of $84 million at quarter end.
• Term Loan and Debt Paydown — $10.2 million paid on B-2 and $20.4 million on B-3…