The E.W. Scripps Company (SSP) 8-K Consolidated Results of Operations

Exhibit 99.1

Consolidated Results of Operations

The tables below present the impact of the adoption of the standard on our condensed consolidated statement of operations for the years ended December 31, 2017 and 2016. The syndicated programming barter revenue adjustments are reflected in the advertising revenue line and impact our Local Media segment results. The gross versus net adjustments for certain transactions at our Midroll business are reflected in the other revenue line and impact our National Media segment.

	Year Ended December 31, 2017
(in thousands)	As Previously Reported		Adjustments for Adoption of New Revenue Standard			As Adjusted
Operating Revenues:
Advertising	$	564,708	$	(829	)	$	563,879
Retransmission and carriage	259,712		—			259,712
Other	40,414		12,967			53,381
Total operating revenues	864,834		12,138			876,972
Costs and Expenses:
Employee compensation and benefits	367,735		—			367,735
Programming	216,467		12,138			228,605
Other expenses	185,869		—			185,869
Restructuring costs	4,422		—			4,422
Total costs and expenses	$	774,493	$	12,138		$	786,631

	Year Ended December 31, 2016
(in thousands)	As Previously Reported		Adjustments for Adoption of New Revenue Standard			As Adjusted
Operating Revenues:
Advertising	$	609,612	$	(864	)	$	608,748
Retransmission and carriage	220,723		—			220,723
Other	38,485		6,495			44,980
Total operating revenues	868,820		5,631			874,451
Costs and Expenses:
Employee compensation and benefits	343,570		—			343,570
Programming	166,986		5,631			172,617
Other expenses	173,797		—			173,797
Acquisition and related integration costs	578		—			578
Total costs and expenses	$	684,931	$	5,631		$	690,562

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Business Segment Results

Quarterly operating results for our Local Media segment as adjusted for the adoption of the new revenue standard, are as follows:

	2017
(in thousands)	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total
Segment operating revenues:
Core advertising	$	115,733	$	129,164	$	117,745	$	129,991	$	492,633
Political	1,041		2,525		1,689		3,396		8,651
Retransmission	66,211		66,059		63,733		63,496		259,499
Other revenue	4,079		3,682		4,338		5,494		17,593
Total operating revenues	187,064		201,430		187,505		202,377		778,376
Segment costs and expenses:
Employee compensation and benefits	73,453		70,891		71,644		71,770		287,758
Programming	44,935		44,624		47,598		48,959		186,116
Other expenses	36,325		37,179		37,891		36,217		147,612
Total costs and expenses	154,713		152,694		157,133		156,946		621,486
Segment profit	$	32,351	$	48,736	$	30,372	$	45,431	$	156,890

Quarterly operating results for our National Media segment as adjusted for the adoption of the new revenue standard, are as follows:

	2017
(in thousands)	1st Quarter			2nd Quarter			3rd Quarter			4th Quarter		Total
Segment operating revenues:
Katz	$	—		$	—		$	—		$	40,975	$	40,975
Midroll	6,513			7,402			7,102			10,182		31,199
Newsy	1,202			3,136			2,623			3,128		10,089
Other revenue	1,972			2,478			2,779			3,649		10,878
Total operating revenues	9,687			13,016			12,504			57,934		93,141
Segment costs and expenses:
Employee compensation and benefits	6,505			6,643			6,189			11,784		31,121
Programming	3,788			4,554			4,554			29,593		42,489
Other expenses	3,351			5,415			6,135			13,890		28,791
Total costs and expenses	13,644			16,612			16,878			55,267		102,401
Segment profit (loss)	$	(3,957	)	$	(3,596	)	$	(4,374	)	$	2,667	$	(9,260	)

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