The E.W. Scripps Company (SSP) 10-Q 3 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2023 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-10701
Entity Registrant Name	THE E.W. SCRIPPS COMPANY
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1223339
Entity Address, Address Line One	312 Walnut Street
Entity Address, City or Town	Cincinnati,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	977-3000
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	SSP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000832428
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Common stock, Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	72,687,678
Common stock, Voting
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	11,932,722

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 15,852	$ 18,027
Accounts receivable (less allowances — $3,454 and $4,963)	601,093	600,098
Miscellaneous	64,386	25,816
Total current assets	681,331	643,941
Investments	23,268	23,144
Property and equipment	450,834	458,600
Operating lease right-of-use assets	103,428	117,869
Goodwill	2,234,574	2,920,574
Other intangible assets	1,751,121	1,821,254
Programming	431,062	427,962
Miscellaneous	12,455	17,661
Total Assets	5,688,073	6,431,005
Current liabilities:
Accounts payable	60,424	82,710
Unearned revenue	18,713	18,183
Current portion of long-term debt	15,612	18,612
Accrued liabilities:
Employee compensation and benefits	57,217	44,590
Programming liability	172,174	167,131
Accrued interest	14,486	31,087
Miscellaneous	44,948	52,891
Other current liabilities	59,657	69,801
Total current liabilities	443,231	485,005
Long-term debt (less current portion)	2,908,390	2,853,793
Deferred income taxes	356,760	370,457
Operating lease liabilities	91,458	106,866
Other liabilities (less current portion)	471,559	484,059
Equity:
Total preferred and common stock	414,819	413,080
Additional paid-in capital	1,458,288	1,444,501
Retained earnings (deficit)	(379,036)	350,715
Accumulated other comprehensive loss, net of income taxes	(77,396)	(77,471)
Total equity	1,416,675	2,130,825
Total Liabilities and Equity	5,688,073	6,431,005
Preferred stock
Equity:
Preferred stock	0	0
Preferred stock, Series A
Equity:
Preferred stock	413,973	412,244
Common stock, Class A
Equity:
Common stock	727	717
Common stock, Voting
Equity:
Common stock	$ 119	$ 119

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ 3,454	$ 4,963
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, Series A
Preferred stock, par value (in dollars per share)	$ 100,000	$ 100,000
Preferred stock, shares outstanding (in shares)	6,000	6,000
Common stock, Class A
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	72,687,678	71,649,335
Common stock, shares outstanding (in shares)	72,687,678	71,649,335
Common stock, Voting
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares issued (in shares)	11,932,722	11,932,722
Common stock, shares outstanding (in shares)	11,932,722	11,932,722

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating Revenues:
Total operating revenues	$ 566,529	$ 612,101	$ 1,677,143	$ 1,772,274
Operating Expenses:
Cost of revenues, excluding depreciation and amortization	321,227	312,054	946,511	918,398
Selling, general and administrative expenses, excluding depreciation and amortization	147,849	154,858	448,997	461,967
Acquisition and related integration costs	0	0	0	1,642
Restructuring costs	4,705	0	29,208	0
Depreciation	15,100	15,340	45,290	46,522
Amortization of intangible assets	23,488	24,225	70,469	73,807
Impairment of goodwill	0	0	686,000	0
Losses (gains), net on disposal of property and equipment	1,066	1,593	2,320	5,651
Total operating expenses	513,435	508,070	2,228,795	1,507,987
Operating income (loss)	53,094	104,031	(551,652)	264,287
Interest expense	(56,916)	(41,917)	(158,029)	(114,427)
Gain on extinguishment of debt	0	0	0	1,234
Defined benefit pension plan income	251	683	519	2,008
Miscellaneous, net	1,309	(494)	131	1,269
Income (loss) from operations before income taxes	(2,262)	62,303	(709,031)	154,371
Provision (benefit) for income taxes	1,391	16,055	(17,009)	44,018
Net income (loss)	(3,653)	46,248	(692,022)	110,353
Preferred stock dividends	(12,576)	(12,576)	(37,729)	(37,729)
Net income (loss) attributable to the shareholders of The E.W. Scripps Company	$ (16,229)	$ 33,672	$ (729,751)	$ 72,624
Net income (loss) per basic share of common stock attributable to the shareholders of The E.W. Scripps Company (in dollars per share)	$ (0.19)	$ 0.39	$ (8.67)	$ 0.85
Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company (in dollars per share)	$ (0.19)	$ 0.38	$ (8.67)	$ 0.80
Advertising
Operating Revenues:
Total operating revenues	$ 355,167	$ 436,779	$ 1,078,369	$ 1,249,407
Distribution
Operating Revenues:
Total operating revenues	203,859	167,250	571,320	497,012
Other
Operating Revenues:
Total operating revenues	$ 7,503	$ 8,072	$ 27,454	$ 25,855

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (3,653)	$ 46,248	$ (692,022)	$ 110,353
Changes in defined benefit pension plans, net of tax of $8, $253, $24 and $768	25	813	75	2,467
Other	0	3	0	9
Total comprehensive income (loss) attributable to preferred and common stockholders	$ (3,628)	$ 47,064	$ (691,947)	$ 112,829

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Tax on changes in defined benefit pension plans	$ 8	$ 253	$ 24	$ 768

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net income (loss)	$ (692,022)	$ 110,353
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	115,759	120,329
Impairment of goodwill	686,000	0
Losses (gains), net on disposal of property and equipment	2,320	5,651
Gain on extinguishment of debt	0	(1,234)
Programming assets and liabilities	(21,266)	(20,930)
Restructuring impairment charges	14,685	0
Deferred income taxes	(13,721)	18,213
Stock and deferred compensation plans	18,372	14,530
Pension contributions, net of income/expense	(1,492)	(27,805)
Other changes in certain working capital accounts, net	(72,567)	(28,812)
Miscellaneous, net	13,069	5,982
Net operating activities	49,137	196,277
Cash Flows from Investing Activities:
Acquisitions, net of cash acquired	0	(13,797)
Additions to property and equipment	(43,811)	(35,548)
Purchase of investments	(940)	(6,387)
Proceeds from FCC repack	0	2,650
Miscellaneous, net	20	(2,101)
Net investing activities	(44,731)	(55,183)
Cash Flows from Financing Activities:
Net borrowings under revolving credit facility	340,000	0
Payments on long-term debt	(295,959)	(158,503)
Preferred stock dividends	(36,000)	(36,000)
Tax payments related to shares withheld for vested stock and RSUs	(4,763)	(8,507)
Miscellaneous, net	(9,859)	(341)
Net cash used in financing activities	(6,581)	(203,351)
Decrease in cash, cash equivalents and restricted cash	(2,175)	(62,257)
Cash, cash equivalents and restricted cash:
Beginning of year	18,027	100,480
End of period	15,852	38,223
Supplemental Cash Flow Disclosures
Interest paid	161,370	123,788
Income taxes paid	25,932	56,679
Non-cash investing information
Capital expenditures included in accounts payable	$ 397	$ 2,676

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands		Total		Preferred Stock	Common Stock	Additional Paid-in Capital		Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss) ("AOCI")
Equity, beginning balance at Dec. 31, 2021		$ 1,970,434		$ 409,939	$ 826	$ 1,428,460		$ 205,118	$ (73,909)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		112,829						110,353	2,476
Preferred stock dividends		(36,000)		1,729				(37,729)
Compensation plans: shares issued	[1]	11,948			9	11,939
Equity, ending balance at Sep. 30, 2022		2,059,211		411,668	835	1,440,399		277,742	(71,433)
Equity, beginning balance at Jun. 30, 2022		2,019,614		411,092	834	1,435,867		244,070	(72,249)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		47,064						46,248	816
Preferred stock dividends		(12,000)		576				(12,576)
Compensation plans: shares issued	[2]	4,533			1	4,532
Equity, ending balance at Sep. 30, 2022		2,059,211		411,668	835	1,440,399		277,742	(71,433)
Equity, beginning balance at Dec. 31, 2022		2,130,825		412,244	836	1,444,501		350,715	(77,471)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		(691,947)						(692,022)	75
Preferred stock dividends		(36,000)		1,729				(37,729)
Compensation plans: shares issued	[3]	13,797			10	13,787
Equity, ending balance at Sep. 30, 2023		1,416,675		413,973	846	1,458,288		(379,036)	(77,396)
Equity, beginning balance at Jun. 30, 2023		1,428,189		413,397	845	1,454,175		(362,807)	(77,421)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		(3,628)						(3,653)	25
Preferred stock dividends		(12,000)		576				(12,576)
Compensation plans: shares issued		4,114	[4]		1	4,113	[4]
Equity, ending balance at Sep. 30, 2023		$ 1,416,675		$ 413,973	$ 846	$ 1,458,288		$ (379,036)	$ (77,396)
[1]Net of tax payments related to shares withheld for vested RSUs of $8,507 for the nine months ended September 30, 2022.[2]Net of tax payments related to shares withheld for vested RSUs of $39 for the three months ended September 30, 2022.[3]Net of tax payments related to shares withheld for vested RSUs of $4,763 for the nine months ended September 30, 2023.[4]Net of tax payments related to shares withheld for vested RSUs of $109 for the three months ended September 30, 2023.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Preferred stock dividends (in dollars per share)	$ 2,000	$ 2,000	$ 6,000	$ 6,000
Net shares issued (in shares)	141,926	76,171	1,038,343	912,710
Tax payments related to shares withheld for vested stock and RSUs	$ 109	$ 39	$ 4,763	$ 8,507

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies As used in the Notes to Condensed Consolidated Financial Statements, 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. Basis of Presentation — The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The interim financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto included in our 2022 Annual Report on Form 10-K. In management's opinion, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the interim periods have been made. Results of operations are not necessarily indicative of the results that may be expected for future interim periods or for the full year. Additionally, certain amounts in prior periods have been reclassified to conform to the current period's presentation. Our presentation for operating revenues in 2023 includes a new caption titled “Distribution” revenues. This caption includes amounts that were previously reported within our “Retransmission and carriage” revenue caption and also includes subscription revenues that were previously captured within our “Other” revenue caption. Amounts previously reported in 2022 within these prior revenue captions have been reclassified to conform to the 2023 presentation. Principles of Consolidation — The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities ("VIEs") for which we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. Noncontrolling interest represents an owner’s share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation. Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees. Nature of Operations — We are a diverse media enterprise, serving audiences and businesses through a portfolio of local television stations and national news and entertainment networks. All of our businesses provide content and services via digital platforms, including the Internet, smartphones and tablets. Our media businesses are organized into the following reportable business segments: Local Media, Scripps Networks and Other. Additional information for our business segments is presented in Note 12. Segment Information. Use of Estimates — Preparing financial statements in accordance with accounting principles generally accepted in the United States of America requires us to make a variety of decisions that affect the reported amounts and the related disclosures. Such decisions include the selection of accounting principles that reflect the economic substance of the underlying transactions and the assumptions on which to base accounting estimates. In reaching such decisions, we apply judgment based on our understanding and analysis of the relevant circumstances, including our historical experience, actuarial studies and other assumptions. Our financial statements include estimates and assumptions used in the periods over which long-lived assets are depreciated or amortized; the fair value of long-lived assets, goodwill and indefinite lived assets; the liability for uncertain tax positions and valuation allowances against deferred income tax assets; the fair value of assets acquired and liabilities assumed in business combinations; and self-insured risks. While we re-evaluate our estimates and assumptions on an ongoing basis, actual results could differ from those estimated at the time of preparation of the financial statements. Nature of Products and Services — The following is a description of principal activities from which we generate revenue. Core Advertising — Core advertising is comprised of sales to local and national customers. The advertising includes a combination of broadcast airtime, as well as digital advertising. Pricing of advertising time is based on audience size and share, the demographic of our audiences and the demand for our limited inventory of commercial time. Advertising time is sold through a combination of local and national sales staff and national sales representative firms. Digital revenues are primarily generated from the sale of advertising to local and national customers on our local television websites, smartphone apps, tablet apps and other platforms. Political Advertising — Political advertising is generally sold through our Washington D.C. sales office. Advertising is sold to presidential, gubernatorial, Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) or other advocacy groups. Distribution Revenues — We earn revenues from cable operators, satellite carriers, other multi-channel video programming distributors (collectively "MVPDs"), other online video distributors and subscribers for access rights to our broadcast signals. These arrangements are generally governed by multi-year contracts and the fees we receive are typically based on the number of subscribers the respective distributor has and the contracted rate per subscriber. Refer to Note 12. Segment Information for further information, including revenue by significant product and service offering. Revenue Recognition — Revenue is measured based on the consideration we expect to be entitled to in exchange for promised goods or services provided to customers, and excludes any amounts collected on behalf of third parties. Revenue is recognized upon transfer of control of promised products or services to customers. Advertising — Advertising revenue is recognized, net of agency commissions, over time primarily as ads are aired or impressions are delivered and any contracted audience guarantees are met. We apply the practical expedient to recognize revenue at the amount we have the right to invoice, which corresponds directly to the value a customer has received relative to our performance. For advertising sold based on audience guarantees, audience deficiency may result in an obligation to deliver additional advertisements to the customer. To the extent that we do not satisfy contracted audience ratings, we record deferred revenue until such time that the audience guarantee has been satisfied. Distribution — Our primary source of distribution revenue is from retransmission consent contracts with MVPDs. Retransmission revenues are considered licenses of functional intellectual property and are recognized at the point in time the content is transferred to the customer. MVPDs report their subscriber numbers to us generally on a 30- to 90-day lag. Prior to receiving the MVPD reporting, we record revenue based on estimates of the number of subscribers, utilizing historical levels and trends of subscribers for each MVPD. Cost of Revenues — Cost of revenues reflects the cost of providing our broadcast signals, programming and other content to respective distribution platforms. The costs captured within the cost of revenues caption include programming, content distribution, satellite transmission fees, production and operations and other direct costs. Contract Balances — Timing of revenue recognition may differ from the timing of cash collection from customers. We record a receivable when revenue is recognized prior to cash receipt, or unearned revenue when cash is collected in advance of revenue being recognized. Payment terms may vary by contract type, although our terms generally include a requirement of payment within 30 to 90 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services. The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We estimate the allowance based on expected credit losses, including our historical experience of actual losses and known troubled accounts. The allowance for doubtful accounts totaled $3.5 million at September 30, 2023 and $5.0 million at December 31, 2022. We record unearned revenue when cash payments are received in advance of our performance, including amounts which are refundable. We generally require amounts payable under advertising contracts with political advertising customers to be paid in advance. Unearned revenue totaled $18.7 million at September 30, 2023 and is expected to be recognized within revenue or refunded over the next 12 months. Unearned revenue totaled $18.2 million at December 31, 2022. We recorded $9.6 million of revenue in the nine months ended September 30, 2023 that was included in unearned revenue at December 31, 2022. Leases — We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in our Condensed Consolidated Balance Sheets. Finance leases are included in property and equipment, other current liabilities and other long-term liabilities in our Condensed Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable for most of our leases, we use our incremental borrowing rate when determining the present value of lease payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease. The operating lease ROU asset also includes any payments made at or before commencement and is reduced by any lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Share-Based Compensation — We have a Long-Term Incentive Plan (the “Plan”) which is described more fully in our 2022 Annual Report on Form 10-K. The Plan provides for the award of incentive and nonqualified stock options, stock appreciation rights, restricted stock units ("RSUs") and unrestricted Class A Common shares and performance units to key employees and non-employee directors. Share-based compensation costs totaled $3.5 million and $3.9 million for the third quarter of 2023 and 2022, respectively. Year-to-date share-based compensation costs totaled $16.1 million and $17.8 million in 2023 and 2022, respectively. Earnings Per Share (“EPS”) — Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our RSUs, are considered participating securities for purposes of calculating EPS. Under the two-class method, we allocate a portion of net income to these participating securities and, therefore, exclude that income from the calculation of EPS for common stock. We do not allocate losses to the participating securities. The following table presents information about basic and diluted weighted-average shares outstanding: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Numerator (for basic and diluted earnings per share) Net income (loss) $ (3,653) $ 46,248 $ (692,022) $ 110,353 Less income allocated to RSUs — (885) — (1,831) Less preferred stock dividends (12,576) (12,576) (37,729) (37,729) Numerator for basic and diluted earnings per share $ (16,229) $ 32,787 $ (729,751) $ 70,793 Denominator Basic weighted-average shares outstanding 84,433 83,360 84,162 83,141 Effect of dilutive securities — 1,964 — 5,056 Diluted weighted-average shares outstanding 84,433 85,324 84,162 88,197 The dilutive effects of performance-based stock awards are included in the computation of diluted earnings per share to the extent the related performance criteria are met through the respective balance sheet reporting date. As of September 30, 2023, potential dilutive securities representing 420,000 shares were excluded from the computation of diluted earnings per share as the related performance criteria were not yet met, although the Company expects to meet various levels of criteria in the future. For the three and nine month periods ended September 30, 2023, we incurred a net loss and the inclusion of RSUs would be anti-dilutive. The September 30, 2023 diluted EPS calculation excludes the effect from 3.4 million of outstanding RSUs that were anti-dilutive. The September 30, 2023 basic and dilutive EPS calculations also exclude the impact of the common stock warrant as the effect would be anti-dilutive. As of September 30, 2022, we had 0.2 million of outstanding RSUs that were anti-dilutive.

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Standards	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards In March 2020, the Financial Accounting Standards Board ("FASB") issued new guidance that provides optional expedients and exceptions to certain accounting requirements to facilitate the transition away from the use of the London Interbank Offered Rate ("LIBOR") and other interbank offered rates. The guidance was effective as of March 12, 2020 and the sunset date of the guidance was deferred to December 31, 2024, subject to meeting certain criteria, that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We evaluate transactions and contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Nuvyyo Acquisition On January 5, 2022, we acquired Nuvyyo for net cash consideration totaling $13.8 million. Nuvyyo provides consumers DVR product solutions to watch and record free over-the-air HDTV on connected devices. The final purchase price allocation assigned $7.2 million to intangible assets with useful lives ranging from three

Restructuring Costs and Other C

Restructuring Costs and Other Charges and Credits	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring Costs and Other Charges and Credits	Restructuring Costs and Other Charges and Credits Restructuring and Reorganization In January of 2023, we announced a strategic restructuring and reorganization of the Company that will further leverage our strong position in the U.S. television ecosystem and propel our growth across new distribution platforms and emerging media marketplaces. The restructuring aims to create a leaner and more agile operating structure through the centralization of certain services and the consolidation of layers of management across our operating businesses and corporate office. We currently anticipate this effort will result in at least $40 million in annual savings, which will include reductions in a variety of areas. Restructuring costs totaled $4.7 million in the third quarter of 2023 and $29.2 million in the first nine months of 2023. In connection with the shutdown of the TrueReal network, we incurred a $13.6 million first quarter charge related to the write-down of certain programming assets. Year-to-date restructuring costs also include employee severance related charges of $8.9 million, operating lease impairment charges of $1.1 million and other restructuring charges primarily attributed to strategic reorganization consulting fees. (in thousands) Severance and Employee Benefits Other Restructuring Charges Total Liability as of December 31, 2022 $ — $ — $ — Net charges 8,887 20,321 29,208 Payments (5,001) (4,441) (9,442) Non-cash (a) (593) (14,685) (15,278) Liability as of September 30, 2023 $ 3,293 $ 1,195 $ 4,488 (a) Represents share-based compensation costs and asset write-downs included in restructuring charges. Other Charges and Credits Acquisition and related integration costs were $1.6 million in the first nine months of 2022.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We file a consolidated federal income tax return, consolidated unitary tax returns in certain states and other separate state income tax returns for our subsidiary companies. The income tax provision for interim periods is determined based upon the expected effective income tax rate for the full year and the tax rate applicable to certain discrete transactions in the interim period. To determine the annual effective income tax rate, we must estimate both the total income (loss) before income tax for the full year and the jurisdictions in which that income (loss) is subject to tax. The actual effective income tax rate for the full year may differ from these estimates if income (loss) before income tax is greater than or less than what was estimated or if the allocation of income (loss) to jurisdictions in which it is taxed is different from the estimated allocations. We review and adjust our estimated effective income tax rate for the full year each quarter based upon our most recent estimates of income (loss) before income tax for the full year and the jurisdictions in which we expect that income will be taxed. The effective income tax rate for the nine months ended September 30, 2023 and 2022 was 2.4% and 29%, respectively. The comparability of our year-over-year effective tax rate is affected by the write-off of Scripps Networks goodwill in 2023, the majority of which is non-deductible. Differences between our effective income tax rate and the U.S. federal statutory rate are the impact of state taxes, foreign taxes, non-deductible expenses, changes in reserves for uncertain tax positions, excess tax benefits or expense from the exercise and vesting of share-based compensation awards ($1.4 million expense in 2023 and $1.0 million benefit in 2022), state deferred rate changes ($1.1 million benefit in 2023 and $4.0 million expense in 2022) and state NOL valuation allowance changes. Additionally, the 2023 year-to-date income tax provision was impacted by a net discrete tax provision benefit of $16.9 million related to book impairment of tax deductible goodwill recognized in the second quarter of 2023. We recognize state NOL carryforwards as deferred tax assets, subject to valuation allowances. At each balance sheet date, we estimate the amount of carryforwards that are not expected to be used prior to expiration of the carryforward period. The tax effect of the carryforwards that are not expected to be used prior to their expiration is included in the valuation allowance.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended September 30, 2023 and 2022 totaled $6.4 million and $6.6 million, respectively, including short-term lease costs of $1.2 million and $0.4 million, respectively. Year-to-date September 30, 2023 and 2022 operating lease costs totaled $19.7 million and $19.8 million, respectively, including short-term lease costs of $2.5 million and $1.1 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for the three months ended September 30, 2023 and $0.6 million for the nine months ended September 30, 2023. Interest expense on the finance leases liability totaled $0.5 million for the three months ended September 30, 2023 and $1.6 million for the nine months ended September 30, 2023. Other information related to our leases was as follows: (in thousands, except lease term and discount rate) As of As of Balance Sheet Information Operating Leases Right-of-use assets $ 103,428 $ 117,869 Other current liabilities 20,369 19,599 Operating lease liabilities 91,458 106,866 Financing Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 663 69 Property and equipment, net 27,658 28,252 Other current liabilities — 426 Other liabilities 29,828 28,063 Weighted Average Remaining Lease Term Operating leases 7.56 years 8.22 years Finance leases 34.38 years 35.50 years Weighted Average Discount Rate Operating leases 4.36 % 4.34 % Finance leases 7.07 % 7.10 % Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 6,740 $ 6,246 $ 19,448 $ 18,502 Operating cash flows from finance leases 213 — 213 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations 1,736 2,133 4,175 3,596 Right-of-use assets obtained in exchange for finance lease obligations — — — — Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows: (in thousands) Operating Finance Remainder of 2023 $ 7,538 $ 213 2024 25,093 1,302 2025 20,437 1,776 2026 18,336 1,824 2027 15,742 1,875 Thereafter 46,031 92,050 Total future minimum lease payments 133,177 99,040 Less: Imputed interest (21,350) (69,212) Total $ 111,827 $ 29,828
Leases	Leases We have operating leases for office space, data centers and certain equipment. We also have finance leases for office space. Our leases have lease terms of 1 year to 35 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended September 30, 2023 and 2022 totaled $6.4 million and $6.6 million, respectively, including short-term lease costs of $1.2 million and $0.4 million, respectively. Year-to-date September 30, 2023 and 2022 operating lease costs totaled $19.7 million and $19.8 million, respectively, including short-term lease costs of $2.5 million and $1.1 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for the three months ended September 30, 2023 and $0.6 million for the nine months ended September 30, 2023. Interest expense on the finance leases liability totaled $0.5 million for the three months ended September 30, 2023 and $1.6 million for the nine months ended September 30, 2023. Other information related to our leases was as follows: (in thousands, except lease term and discount rate) As of As of Balance Sheet Information Operating Leases Right-of-use assets $ 103,428 $ 117,869 Other current liabilities 20,369 19,599 Operating lease liabilities 91,458 106,866 Financing Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 663 69 Property and equipment, net 27,658 28,252 Other current liabilities — 426 Other liabilities 29,828 28,063 Weighted Average Remaining Lease Term Operating leases 7.56 years 8.22 years Finance leases 34.38 years 35.50 years Weighted Average Discount Rate Operating leases 4.36 % 4.34 % Finance leases 7.07 % 7.10 % Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 6,740 $ 6,246 $ 19,448 $ 18,502 Operating cash flows from finance leases 213 — 213 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations 1,736 2,133 4,175 3,596 Right-of-use assets obtained in exchange for finance lease obligations — — — — Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows: (in thousands) Operating Finance Remainder of 2023 $ 7,538 $ 213 2024 25,093 1,302 2025 20,437 1,776 2026 18,336 1,824 2027 15,742 1,875 Thereafter 46,031 92,050 Total future minimum lease payments 133,177 99,040 Less: Imputed interest (21,350) (69,212) Total $ 111,827 $ 29,828

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill consisted of the following: (in thousands) Local Media Scripps Networks Other Total Gross balance as of December 31, 2022 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (21,000) — (237,914) Net balance as of December 31, 2022 $ 905,494 $ 2,007,890 $ 7,190 $ 2,920,574 Gross balance as of September 30, 2023 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (707,000) — (923,914) Net balance as of September 30, 2023 $ 905,494 $ 1,321,890 $ 7,190 $ 2,234,574 Other intangible assets consisted of the following: (in thousands) As of As of Amortizable intangible assets: Carrying amount: Television affiliation relationships $ 1,060,244 $ 1,060,244 Customer lists and advertiser relationships 220,997 220,997 Other 136,437 136,100 Total carrying amount 1,417,678 1,417,341 Accumulated amortization: Television affiliation relationships (262,645) (222,092) Customer lists and advertiser relationships (125,640) (106,654) Other (58,087) (47,156) Total accumulated amortization (446,372) (375,902) Net amortizable intangible assets 971,306 1,041,439 Indefinite-lived intangible assets — FCC licenses 779,815 779,815 Total other intangible assets $ 1,751,121 $ 1,821,254 Estimated amortization expense of intangible assets for each of the next five years is $23.5 million for the remainder of 2023, $92.8 million in 2024, $89.7 million in 2025, $86.1 million in 2026, $83.2 million in 2027, $62.0 million in 2028 and $534.0 million in later years. Goodwill and other indefinite-lived intangible assets are tested for impairment annually and any time events occur or changes in circumstances indicate it is more likely than not the fair value of a reporting unit, or respective indefinite-lived intangible asset, is below its carrying value. Such events or changes in circumstances include, but are not limited to, changes in business climate, significant declines in the price of our stock, or other factors resulting in lower cash flow related to such assets. If the carrying amount exceeds its fair value, then an impairment loss is recognized. Following completion of our 2022 annual goodwill impairment testing, we concluded that the fair value of our Local Media reporting unit exceeded its carrying value by 30% and the fair value of our Scripps Networks reporting unit exceeded its carrying value by 2.5%. The Scripps Networks business has experienced softness within the national advertising marketplace as macroeconomic challenges have continued to impact advertising budgets. A longer than anticipated advertising recession and the impact of declining linear television viewership trends have negatively impacted expected future growth rates, profitability and the cash flows derived from the business, as well as, the expected period of time over which those cash flows will occur. These factors, coupled with decreases in our market capitalization over the first two quarters of 2023, provided an indication that the fair value of our Scripps Networks reporting unit may be below its carrying value at June 30, 2023. The quantitative analysis to measure the extent of any goodwill impairment compares the estimated fair values of our reporting units to their respective carrying values. We determine fair value of our reporting units generally using market data, appraised values and discounted cash flow analyses. The use of a discounted cash flow analysis requires significant judgment to estimate the future cash flows derived from the business and the period of time over which those cash flows will occur, as well as to determine an appropriate discount rate. The determination of the discount rate is based on a cost of capital model, using a risk-free rate, adjusted by a stock-beta adjusted risk premium and a size premium. These reporting unit valuations are dependent on a number of significant estimates and assumptions, including macroeconomic conditions, market growth rates, competitive activities, cost containment, margin expansion and strategic business plans (inputs of which are categorized as Level 3 under the fair value hierarchy). Additionally, future changes in these assumptions and estimates with respect to long-term growth rates and discount rates or future cash flow projections, could result in significantly different estimates of the fair values. Following completion of our second quarter 2023 testing, we concluded that the fair value of our Scripps Networks reporting unit did not exceed its carrying value and we recognized a $686 million non-cash goodwill impairment charge. Given that the fair value of the Scripps Networks reporting unit currently approximates carrying value, this reporting unit is more sensitive to changes in assumptions regarding its fair value. While we believe the estimates and judgments used in determining the fair values were appropriate, these estimates of fair value assume certain growth of our businesses, which, if not achieved, could impact the fair value and possibly result in an impairment of the goodwill in future periods.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: (in thousands) As of As of Revolving credit facility $ 340,000 $ — Senior secured notes, due in 2029 523,356 523,356 Senior unsecured notes, due in 2027 425,667 425,667 Senior unsecured notes, due in 2031 392,071 392,071 Term loan, due in 2024 — 284,250 Term loan, due in 2026 730,728 736,437 Term loan, due in 2028 553,000 559,000 Total outstanding principal 2,964,822 2,920,781 Less: Debt issuance costs and issuance discounts (40,820) (48,376) Less: Current portion (15,612) (18,612) Net carrying value of long-term debt $ 2,908,390 $ 2,853,793 Fair value of long-term debt * $ 2,565,051 $ 2,677,845 * The fair values of debt are estimated based on either quoted private market transactions or observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy. Scripps Senior Secured Credit Agreement On July 31, 2023, we entered into the Eighth Amendment to the Third Amended Restated Credit Agreement ("Eighth Amendment"). The Eighth Amendment increased the borrowing capacity of our Revolving Credit Facility from $400 million to $585 million and matures on January 7, 2026. Commitment fees of 0.30% to 0.50% per annum, based on our leverage ratio, of the total unused commitment are payable under the Revolving Credit Facility. Interest is payable on the Revolving Credit Facility at rates based on the secured overnight financing rate ("SOFR"), plus a margin based on our leverage ratio, ranging from 1.75% to 2.75%. As of September 30, 2023, we had $340 million outstanding under the Revolving Credit Facility with an interest rate of 8.18%. The weighted-average interest rate over the period during which we had a drawn revolver balance in 2023 was 8.03%. As of September 30, 2023 and December 31, 2022, we had outstanding letters of credit totaling $6.6 million and $7.1 million, respectively, under the Revolving Credit Facility. On October 2, 2017, we issued a $300 million term loan B which was due to mature in October 2024 ("2024 term loan"). On July 31, 2023, we borrowed $283 million on the Revolving Credit Facility to pay off the remaining principal balance of the 2024 term loan. As of December 31, 2022, the interest rate on the 2024 term loan was 6.38%. The weighted-average interest rate was 7.22% for the period the loan was outstanding during 2023 and 4.21% for the nine months ended September 30, 2022. On May 1, 2019, we issued a $765 million term loan B ("2026 term loan") that matures in May 2026. Interest is currently payable on the 2026 term loan at a rate based on SOFR, plus a fixed margin of 2.56%. The 2026 term loan requires annual principal payments of $7.6 million. Deferred financing costs and original issuance discount totaled approximately $23.0 million with this term loan, which are being amortized over the life of the loan. As of September 30, 2023 and December 31, 2022, the interest rate on the 2026 term loan was 7.99% and 6.95%, respectively. The weighted-average interest rate on the 2026 term loan was 7.93% and 4.77% for the nine months ended September 30, 2023 and 2022, respectively. On January 7, 2021, we issued an $800 million term loan B ("2028 term loan") that matures in January 2028. Interest is currently payable on the 2028 term loan at a rate based on SOFR, plus a fixed margin of 3.00%. Additionally, the credit agreement states the SOFR rate could not be less than 0.75% for our term loans that mature in 2026 and 2028. The 2028 term loan requires annual principal payments of $8.0 million. We incurred deferred financing costs totaling $23.4 million related to this term loan and a previous amendment to the Revolving Credit Facility, which are being amortized over the life of the term loan. As of September 30, 2023 and December 31, 2022, the interest rate on the 2028 term loan was 8.43% and 7.13%, respectively. The weighted-average interest rate on the 2028 term loan was 8.21% and 4.96% for the nine months ended September 30, 2023 and 2022, respectively. The Senior Secured Credit Agreement contains covenants that limit our ability to incur additional debt and provides for restrictions on certain payments (dividends and share repurchases). Additionally, we must be in compliance with certain leverage ratios in order to proceed with acquisitions. Our credit agreement also includes a provision that in certain circumstances we must use a portion of excess cash flow to repay debt. We granted the lenders pledges of our equity interests in our subsidiaries and security interests in substantially all other personal property including cash, accounts receivables and equipment. The Eighth Amendment contains a covenant to comply with a maximum first lien net leverage ratio when we have outstanding borrowings on the Revolving Credit Facility. Through December 31, 2024, we must comply with a maximum first lien net leverage ratio of 5.0 to 1.0, at which point it steps down to 4.75 times through September 30, 2025, and then steps down to 4.50 times thereafter. As of September 30, 2023, we were in compliance with our financial covenants. 2029 Senior Secured Notes On December 30, 2020, we issued $550 million of senior secured notes (the "2029 Senior Notes"), which bear interest at a rate of 3.875% per annum and mature on January 15, 2029. The 2029 Senior Notes were priced at 100% of par value and interest is payable semi-annually on January 15 and July 15. Prior to January 15, 2024 we may redeem up to 40% of the aggregate principal amount of the 2029 Senior Notes at a redemption price of 103.875% of the principal amount plus accrued and unpaid interest, if any, to the date of redemption. We may also redeem some or all of the 2029 Senior Notes before January 15, 2024 at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after January 15, 2024 and before January 15, 2026, we may redeem the notes, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2029 Senior Notes may require us to repurchase some or all of the notes. Our credit agreement also includes a provision that in certain circumstances we must use a portion of excess cash flow to repay debt. The 2029 Senior Notes are guaranteed by us and the majority our subsidiaries and are secured on equal footing with the obligations under the Senior Secured Credit Agreement. The notes are secured, on a first lien basis, from pledges of equity interests in our subsidiaries and by substantially all of the existing and future assets of Scripps. The 2029 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature. We incurred approximately $13.8 million of deferred financing costs in connection with the issuance of the 2029 Senior Notes, which are being amortized over the life of the notes. 2027 Senior Unsecured Notes On July 26, 2019, we issued $500 million of senior unsecured notes, which bear interest at a rate of 5.875% per annum and mature on July 15, 2027 ("the 2027 Senior Notes"). The 2027 Senior Notes were priced at 100% of par value and interest is payable semi-annually on July 15 and January 15. We may redeem the notes before July 15, 2025, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2027 Senior Notes may require us to repurchase some or all of the notes. The 2027 Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by certain of our existing and future domestic restricted subsidiaries. The 2027 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature. There are no registration rights associated with the 2027 Senior Notes. We incurred approximately $10.7 million of deferred financing costs in connection with the issuance of the 2027 Senior Notes, which are being amortized over the life of the notes. 2031 Senior Unsecured Notes On December 30, 2020, we issued $500 million of senior unsecured notes (the "2031 Senior Notes"), which bear interest at a rate of 5.375% per annum and mature on January 15, 2031. The 2031 Senior Notes were priced at 100% of par value and interest is payable semi-annually on January 15 and July 15. Prior to January 15, 2024 we may redeem up to 40% of the aggregate principal amount of the 2031 Senior Notes at a redemption price of 105.375% of the principal amount plus accrued and unpaid interest, if any, to the date of redemption. We may also redeem some or all of the 2031 Senior Notes before January 15, 2026 at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after January 15, 2026 and before January 15, 2029, we may redeem the notes, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2031 Senior Notes may require us to repurchase some or all of the notes. The 2031 Senior Notes are also guaranteed by us and the majority our subsidiaries. The 2031 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature. We incurred approximately $12.5 million of deferred financing costs in connection with the issuance of the 2031 Senior Notes, which are being amortized over the life of the notes. Debt Repurchase Authorization In February 2023, our Board of Directors provided a new debt repurchase authorization, pursuant to which we may reduce, through redemptions or open market purchases and retirement, a combination of the outstanding principal balance of our senior secured and senior unsecured notes. The authorization currently permits an aggregate principal amount reduction of up to $500 million and expires on March 1, 2026. Our previous debt repurchase authorization expired on March 1, 2023. Debt Repurchase Transactions On July 31, 2023, we paid off the remaining $283 million principal balance of the 2024 term loan and wrote-off $0.4 million of deferred financing costs related to this term loan to interest expense. During the first quarter of 2022, we redeemed $42.2 million of our 2027 Senior Notes, $26.6 million of our 2029 Senior Notes and $54.5 million of our 2031 Senior Notes. The redemptions resulted in a gain on extinguishment of debt of $1.2 million, as the notes were redeemed for total consideration below par value of the notes. During the fourth quarter of 2022, we redeemed $16.8 million of our 2027 Senior Notes and $31.4 million of our 2031 Senior Notes. The redemptions resulted in a gain on extinguishment of debt of $7.4 million, as the notes were redeemed for total consideration below par value of the notes. During the full year of 2022, we made additional principal payments on the 2028 term loan totaling $100 million and wrote-off $1.1 million of deferred financing costs related to this term loan to interest expense.

Other Liabilities

Other Liabilities	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consisted of the following: (in thousands) As of As of Employee compensation and benefits $ 27,266 $ 25,916 Deferred FCC repack income 42,895 46,205 Programming liability 254,396 263,093 Liability for pension benefits 76,562 78,279 Liabilities for uncertain tax positions 14,842 14,144 Finance leases 29,828 28,063 Other 25,770 28,359 Other liabilities (less current portion) $ 471,559 $ 484,059

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table presents additional information about the change in certain working capital accounts: Nine Months Ended (in thousands) 2023 2022 Accounts receivable $ (995) $ 13,621 Other current assets (38,783) (23,620) Accounts payable (19,524) 10,141 Accrued employee compensation and benefits 12,339 (12,959) Accrued interest (16,601) (19,922) Other accrued liabilities (7,943) (5,534) Unearned revenue 530 11,539 Other, net (1,590) (2,078) Total $ (72,567) $ (28,812)

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans We sponsor a noncontributory defined benefit pension plan and non-qualified Supplemental Executive Retirement Plans ("SERPs"). The accrual for future benefits has been frozen in our defined benefit pension plan and SERPs. We sponsor a defined contribution plan covering substantially all non-union and certain union employees. We match a portion of employees' voluntary contributions to this plan. Other union-represented employees are covered by defined benefit pension plans jointly sponsored by us and the union, or by union-sponsored multi-employer plans. The components of the employee benefit plan expense consisted of the following: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Interest cost $ 5,814 $ 4,333 $ 17,684 $ 12,999 Expected return on plan assets, net of expenses (6,302) (6,227) (18,915) (18,675) Amortization of actuarial loss and prior service cost 5 997 14 3,026 Total for defined benefit pension plan (483) (897) (1,217) (2,650) SERPs 232 214 698 642 Defined contribution plan 3,530 3,258 12,125 11,582 Net periodic benefit cost $ 3,279 $ 2,575 $ 11,606 $ 9,574 We contributed $0.9 million to fund current benefit payments for our SERPs during the nine months ended September 30, 2023. During the remainder of 2023, we anticipate contributing an additional $0.5 million to fund the SERPs' benefit payments. We have met regulatory funding requirements for our qualified benefit pension plan and do not have a mandatory contribution in 2023.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information We determine our business segments based upon our management and internal reporting structures, as well as the basis on which our chief operating decision maker makes resource-allocation decisions. Our Local Media segment includes more than 60 local television stations and their related digital operations. It is comprised of 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. We also have seven CW affiliates - four on full power stations and three on multicast; seven independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunications companies, satellite carriers and over-the-top virtual MVPDs. Our Scripps Networks segment includes national news outlets Court TV and Scripps News (formerly Newsy), as well as popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery and Laff. The Scripps Networks reach nearly every U.S. television home through free over-the-air broadcast, cable/satellite, connected TV and digital distribution. These operations earn revenue primarily through the sale of advertising. Our respective business segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. We also allocate a portion of certain corporate costs and expenses, including accounting, human resources, employee benefit and information technology to our business segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount. The other segment caption aggregates our operating segments that are too small to report separately. Costs for centrally provided services and certain corporate costs that are not allocated to the business segments are included in shared services and corporate costs. These unallocated corporate costs would also include the costs associated with being a public company. Corporate assets are primarily cash and cash equivalents, restricted cash, property and equipment primarily used for corporate purposes and deferred income taxes. Our chief operating decision maker evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan amounts, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America. Information regarding our business segments is as follows: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Segment operating revenues: Local Media $ 353,061 $ 378,438 $ 1,017,203 $ 1,060,918 Scripps Networks 215,393 235,401 663,095 713,398 Other 2,620 2,594 10,149 10,638 Intersegment eliminations (4,545) (4,332) (13,304) (12,680) Total operating revenues $ 566,529 $ 612,101 $ 1,677,143 $ 1,772,274 Segment profit (loss): Local Media $ 74,865 $ 99,607 $ 201,725 $ 234,742 Scripps Networks 49,661 71,984 161,530 230,357 Other (6,263) (6,791) (14,074) (12,253) Shared services and corporate (20,810) (19,611) (67,546) (60,937) Acquisition and related integration costs — — — (1,642) Restructuring costs (4,705) — (29,208) — Depreciation and amortization of intangible assets (38,588) (39,565) (115,759) (120,329) Impairment of goodwill — — (686,000) — Gains (losses), net on disposal of property and equipment (1,066) (1,593) (2,320) (5,651) Interest expense (56,916) (41,917) (158,029) (114,427) Gain on extinguishment of debt — — — 1,234 Defined benefit pension plan income 251 683 519 2,008 Miscellaneous, net 1,309 (494) 131 1,269 Income (loss) from operations before income taxes $ (2,262) $ 62,303 $ (709,031) $ 154,371 Depreciation: Local Media $ 9,881 $ 9,997 $ 29,521 $ 30,665 Scripps Networks 4,892 4,889 14,558 14,504 Other 47 45 137 133 Shared services and corporate 280 409 1,074 1,220 Total depreciation $ 15,100 $ 15,340 $ 45,290 $ 46,522 Amortization of intangible assets: Local Media $ 8,980 $ 8,520 $ 26,941 $ 26,481 Scripps Networks 13,009 14,209 39,027 42,627 Other 447 471 1,345 1,423 Shared services and corporate 1,052 1,025 3,156 3,276 Total amortization of intangible assets $ 23,488 $ 24,225 $ 70,469 $ 73,807 Additions to property and equipment: Local Media $ 15,123 $ 6,803 $ 36,530 $ 23,017 Scripps Networks 1,225 2,241 3,920 10,677 Other — 9 34 54 Shared services and corporate 495 71 1,469 331 Total additions to property and equipment $ 16,843 $ 9,124 $ 41,953 $ 34,079 A disaggregation of the principal activities from which we generate revenue is as follows: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Operating revenues: Core advertising $ 346,037 $ 371,064 $ 1,061,868 $ 1,152,860 Political 9,130 65,715 16,501 96,547 Distribution 203,859 167,250 571,320 497,012 Other 7,503 8,072 27,454 25,855 Total operating revenues $ 566,529 $ 612,101 $ 1,677,143 $ 1,772,274

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Capital Stock	Capital Stock Capital Stock — We have two classes of common shares, Common Voting shares and Class A Common shares. The Class A Common shares are only entitled to vote on the election of the greater of three or one-third of the directors and other matters as required by Ohio law. On January 7, 2021, we issued 6,000 shares of series A preferred stock, having a face value of $100,000 per share. The preferred stock shares are perpetual and will be redeemable at the option of the Company beginning on the fifth anniversary of issuance, and redeemable at the option of the holders in the event of a Change of Control (as defined in the terms of the preferred shares), in each case at a redemption price of 105% of the face value, plus accrued and unpaid dividends (whether or not declared). As long as the Company pays quarterly dividends in cash on the preferred stock shares, the dividend rate will be 8% per annum. If dividends on the preferred stock shares, which compound quarterly, are not paid in full in cash, the rate will increase to 9% per annum for the remaining period of time that the preferred stock shares are outstanding. Preferred stock dividends were $36.0 million during the first nine months of 2023 and 2022. Under the terms of the preferred stock shares, we are prohibited from paying dividends on and repurchasing our common shares until all preferred stock shares are redeemed. Class A Common Shares Stock Warrant — In connection with the issuance of the preferred stock shares, Berkshire Hathaway, Inc. ("Berkshire Hathaway") also received a warrant to purchase up to 23.1 million Class A shares, at an exercise price of $13 per share. The warrant is exercisable at the holder's option at any time or from time to time, in whole or in part, until the first anniversary of the date on which no preferred stock shares remain outstanding.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) ("AOCI") by component, including items reclassified out of AOCI, were as follows: Three Months Ended September 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, June 30, 2023 $ (77,277) $ (144) $ (77,421) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $8 (a) 25 — 25 Net current-period other comprehensive income (loss) 25 — 25 Ending balance, September 30, 2023 $ (77,252) $ (144) $ (77,396) Three Months Ended September 30, 2022 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, June 30, 2022 $ (72,059) $ (190) $ (72,249) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $253 (a) 813 3 816 Net current-period other comprehensive income (loss) 813 3 816 Ending balance, September 30, 2022 $ (71,246) $ (187) $ (71,433) Nine Months Ended September 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2022 $ (77,327) $ (144) $ (77,471) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $24 (a) 75 — 75 Net current-period other comprehensive income (loss) 75 — 75 Ending balance, September 30, 2023 $ (77,252) $ (144) $ (77,396) Nine Months Ended September 30, 2022 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2021 $ (73,713) $ (196) $ (73,909) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $768 (a) 2,467 9 2,476 Net current-period other comprehensive income (loss) 2,467 9 2,476 Ending balance, September 30, 2022 $ (71,246) $ (187) $ (71,433) (a) Actuarial gain (loss) is included in defined benefit pension plan expense in the Condensed Consolidated Statements of Operations

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Brian Lawlor [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Brian Lawlor, President of Scripps Sports, adopted a Rule 10b5-1 trading plan on August 10, 2023 (the “Trading Plan”), providing for the potential sale of up to 90,000 shares of our Class A common stock between November 13, 2023 and July 7, 2025. The Trading Plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
Name	Brian Lawlor
Title	President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 10, 2023
Rule 10b5-1 Arrangement Terminated	false
Arrangement Duration	602 days
Aggregate Available	90,000	90,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The interim financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto included in our 2022 Annual Report on Form 10-K. In management's opinion, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the interim periods have been made.
Reclassifications	Results of operations are not necessarily indicative of the results that may be expected for future interim periods or for the full year. Additionally, certain amounts in prior periods have been reclassified to conform to the current period's presentation. Our presentation for operating revenues in 2023 includes a new caption titled “Distribution” revenues. This caption includes amounts that were previously reported within our “Retransmission and carriage” revenue caption and also includes subscription revenues that were previously captured within our “Other” revenue caption. Amounts previously reported in 2022 within these prior revenue captions have been reclassified to conform to the 2023 presentation.
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities ("VIEs") for which we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. Noncontrolling interest represents an owner’s share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation. Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees.
Nature of Operations	Nature of Operations — We are a diverse media enterprise, serving audiences and businesses through a portfolio of local television stations and national news and entertainment networks. All of our businesses provide content and services via digital platforms, including the Internet, smartphones and tablets. Our media businesses are organized into the following reportable business segments: Local Media, Scripps Networks and Other. Additional information for our business segments is presented in Note 12. Segment Information.
Use of Estimates	Use of Estimates — Preparing financial statements in accordance with accounting principles generally accepted in the United States of America requires us to make a variety of decisions that affect the reported amounts and the related disclosures. Such decisions include the selection of accounting principles that reflect the economic substance of the underlying transactions and the assumptions on which to base accounting estimates. In reaching such decisions, we apply judgment based on our understanding and analysis of the relevant circumstances, including our historical experience, actuarial studies and other assumptions. Our financial statements include estimates and assumptions used in the periods over which long-lived assets are depreciated or amortized; the fair value of long-lived assets, goodwill and indefinite lived assets; the liability for uncertain tax positions and valuation allowances against deferred income tax assets; the fair value of assets acquired and liabilities assumed in business combinations; and self-insured risks. While we re-evaluate our estimates and assumptions on an ongoing basis, actual results could differ from those estimated at the time of preparation of the financial statements.
Nature of Products and Services	Nature of Products and Services — The following is a description of principal activities from which we generate revenue. Core Advertising — Core advertising is comprised of sales to local and national customers. The advertising includes a combination of broadcast airtime, as well as digital advertising. Pricing of advertising time is based on audience size and share, the demographic of our audiences and the demand for our limited inventory of commercial time. Advertising time is sold through a combination of local and national sales staff and national sales representative firms. Digital revenues are primarily generated from the sale of advertising to local and national customers on our local television websites, smartphone apps, tablet apps and other platforms. Political Advertising — Political advertising is generally sold through our Washington D.C. sales office. Advertising is sold to presidential, gubernatorial, Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) or other advocacy groups. Distribution Revenues — We earn revenues from cable operators, satellite carriers, other multi-channel video programming distributors (collectively "MVPDs"), other online video distributors and subscribers for access rights to our broadcast signals. These arrangements are generally governed by multi-year contracts and the fees we receive are typically based on the number of subscribers the respective distributor has and the contracted rate per subscriber.
Revenue Recognition	Revenue Recognition — Revenue is measured based on the consideration we expect to be entitled to in exchange for promised goods or services provided to customers, and excludes any amounts collected on behalf of third parties. Revenue is recognized upon transfer of control of promised products or services to customers. Advertising — Advertising revenue is recognized, net of agency commissions, over time primarily as ads are aired or impressions are delivered and any contracted audience guarantees are met. We apply the practical expedient to recognize revenue at the amount we have the right to invoice, which corresponds directly to the value a customer has received relative to our performance. For advertising sold based on audience guarantees, audience deficiency may result in an obligation to deliver additional advertisements to the customer. To the extent that we do not satisfy contracted audience ratings, we record deferred revenue until such time that the audience guarantee has been satisfied. Distribution — Our primary source of distribution revenue is from retransmission consent contracts with MVPDs. Retransmission revenues are considered licenses of functional intellectual property and are recognized at the point in time the content is transferred to the customer. MVPDs report their subscriber numbers to us generally on a 30- to 90-day lag. Prior to receiving the MVPD reporting, we record revenue based on estimates of the number of subscribers, utilizing historical levels and trends of subscribers for each MVPD. Cost of Revenues — Cost of revenues reflects the cost of providing our broadcast signals, programming and other content to respective distribution platforms. The costs captured within the cost of revenues caption include programming, content distribution, satellite transmission fees, production and operations and other direct costs.
Contract Balances	Contract Balances — Timing of revenue recognition may differ from the timing of cash collection from customers. We record a receivable when revenue is recognized prior to cash receipt, or unearned revenue when cash is collected in advance of revenue being recognized. Payment terms may vary by contract type, although our terms generally include a requirement of payment within 30 to 90 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services.
Leases	Leases — We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in our Condensed Consolidated Balance Sheets. Finance leases are included in property and equipment, other current liabilities and other long-term liabilities in our Condensed Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable for most of our leases, we use our incremental borrowing rate when determining the present value of lease payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease. The operating lease ROU asset also includes any payments made at or before commencement and is reduced by any lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Share-Based Compensation	Share-Based Compensation — We have a Long-Term Incentive Plan (the “Plan”) which is described more fully in our 2022 Annual Report on Form 10-K. The Plan provides for the award of incentive and nonqualified stock options, stock appreciation rights, restricted stock units ("RSUs") and unrestricted Class A Common shares and performance units to key employees and non-employee directors.
Earnings Per Share (EPS)	Earnings Per Share (“EPS”) — Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our RSUs, are considered participating securities for purposes of calculating EPS. Under the two-class method, we allocate a portion of net income to these participating securities and, therefore, exclude that income from the calculation of EPS for common stock. We do not allocate losses to the participating securities.
Recently Adopted and Issued Accounting Standards	In March 2020, the Financial Accounting Standards Board ("FASB") issued new guidance that provides optional expedients and exceptions to certain accounting requirements to facilitate the transition away from the use of the London Interbank Offered Rate ("LIBOR") and other interbank offered rates. The guidance was effective as of March 12, 2020 and the sunset date of the guidance was deferred to December 31, 2024, subject to meeting certain criteria, that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We evaluate transactions and contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Components of basic and diluted weighted-average shares	The following table presents information about basic and diluted weighted-average shares outstanding: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Numerator (for basic and diluted earnings per share) Net income (loss) $ (3,653) $ 46,248 $ (692,022) $ 110,353 Less income allocated to RSUs — (885) — (1,831) Less preferred stock dividends (12,576) (12,576) (37,729) (37,729) Numerator for basic and diluted earnings per share $ (16,229) $ 32,787 $ (729,751) $ 70,793 Denominator Basic weighted-average shares outstanding 84,433 83,360 84,162 83,141 Effect of dilutive securities — 1,964 — 5,056 Diluted weighted-average shares outstanding 84,433 85,324 84,162 88,197

Restructuring Costs and Other_2

Restructuring Costs and Other Charges and Credits (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Changes in restructuring reserve	(in thousands) Severance and Employee Benefits Other Restructuring Charges Total Liability as of December 31, 2022 $ — $ — $ — Net charges 8,887 20,321 29,208 Payments (5,001) (4,441) (9,442) Non-cash (a) (593) (14,685) (15,278) Liability as of September 30, 2023 $ 3,293 $ 1,195 $ 4,488 (a) Represents share-based compensation costs and asset write-downs included in restructuring charges.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of information related to operating leases	Other information related to our leases was as follows: (in thousands, except lease term and discount rate) As of As of Balance Sheet Information Operating Leases Right-of-use assets $ 103,428 $ 117,869 Other current liabilities 20,369 19,599 Operating lease liabilities 91,458 106,866 Financing Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 663 69 Property and equipment, net 27,658 28,252 Other current liabilities — 426 Other liabilities 29,828 28,063 Weighted Average Remaining Lease Term Operating leases 7.56 years 8.22 years Finance leases 34.38 years 35.50 years Weighted Average Discount Rate Operating leases 4.36 % 4.34 % Finance leases 7.07 % 7.10 %
Schedule of lease cost information	Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 6,740 $ 6,246 $ 19,448 $ 18,502 Operating cash flows from finance leases 213 — 213 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations 1,736 2,133 4,175 3,596 Right-of-use assets obtained in exchange for finance lease obligations — — — —
Schedule of minimum lease payments under non-cancellable operating leases	Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows: (in thousands) Operating Finance Remainder of 2023 $ 7,538 $ 213 2024 25,093 1,302 2025 20,437 1,776 2026 18,336 1,824 2027 15,742 1,875 Thereafter 46,031 92,050 Total future minimum lease payments 133,177 99,040 Less: Imputed interest (21,350) (69,212) Total $ 111,827 $ 29,828
Schedule of minimum lease payments under non-cancellable finance leases	Future minimum lease payments under non-cancellable leases as of September 30, 2023 were as follows: (in thousands) Operating Finance Remainder of 2023 $ 7,538 $ 213 2024 25,093 1,302 2025 20,437 1,776 2026 18,336 1,824 2027 15,742 1,875 Thereafter 46,031 92,050 Total future minimum lease payments 133,177 99,040 Less: Imputed interest (21,350) (69,212) Total $ 111,827 $ 29,828

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	Goodwill consisted of the following: (in thousands) Local Media Scripps Networks Other Total Gross balance as of December 31, 2022 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (21,000) — (237,914) Net balance as of December 31, 2022 $ 905,494 $ 2,007,890 $ 7,190 $ 2,920,574 Gross balance as of September 30, 2023 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (707,000) — (923,914) Net balance as of September 30, 2023 $ 905,494 $ 1,321,890 $ 7,190 $ 2,234,574
Summary of other finite-lived intangible assets	Other intangible assets consisted of the following: (in thousands) As of As of Amortizable intangible assets: Carrying amount: Television affiliation relationships $ 1,060,244 $ 1,060,244 Customer lists and advertiser relationships 220,997 220,997 Other 136,437 136,100 Total carrying amount 1,417,678 1,417,341 Accumulated amortization: Television affiliation relationships (262,645) (222,092) Customer lists and advertiser relationships (125,640) (106,654) Other (58,087) (47,156) Total accumulated amortization (446,372) (375,902) Net amortizable intangible assets 971,306 1,041,439 Indefinite-lived intangible assets — FCC licenses 779,815 779,815 Total other intangible assets $ 1,751,121 $ 1,821,254
Schedule of indefinite-lived intangible assets	Other intangible assets consisted of the following: (in thousands) As of As of Amortizable intangible assets: Carrying amount: Television affiliation relationships $ 1,060,244 $ 1,060,244 Customer lists and advertiser relationships 220,997 220,997 Other 136,437 136,100 Total carrying amount 1,417,678 1,417,341 Accumulated amortization: Television affiliation relationships (262,645) (222,092) Customer lists and advertiser relationships (125,640) (106,654) Other (58,087) (47,156) Total accumulated amortization (446,372) (375,902) Net amortizable intangible assets 971,306 1,041,439 Indefinite-lived intangible assets — FCC licenses 779,815 779,815 Total other intangible assets $ 1,751,121 $ 1,821,254

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt consisted of the following: (in thousands) As of As of Revolving credit facility $ 340,000 $ — Senior secured notes, due in 2029 523,356 523,356 Senior unsecured notes, due in 2027 425,667 425,667 Senior unsecured notes, due in 2031 392,071 392,071 Term loan, due in 2024 — 284,250 Term loan, due in 2026 730,728 736,437 Term loan, due in 2028 553,000 559,000 Total outstanding principal 2,964,822 2,920,781 Less: Debt issuance costs and issuance discounts (40,820) (48,376) Less: Current portion (15,612) (18,612) Net carrying value of long-term debt $ 2,908,390 $ 2,853,793 Fair value of long-term debt * $ 2,565,051 $ 2,677,845 * The fair values of debt are estimated based on either quoted private market transactions or observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy.

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Other liabilities consisted of the following: (in thousands) As of As of Employee compensation and benefits $ 27,266 $ 25,916 Deferred FCC repack income 42,895 46,205 Programming liability 254,396 263,093 Liability for pension benefits 76,562 78,279 Liabilities for uncertain tax positions 14,842 14,144 Finance leases 29,828 28,063 Other 25,770 28,359 Other liabilities (less current portion) $ 471,559 $ 484,059

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2023
Supplemental Cash Flow Elements [Abstract]
Change in certain working capital accounts	The following table presents additional information about the change in certain working capital accounts: Nine Months Ended (in thousands) 2023 2022 Accounts receivable $ (995) $ 13,621 Other current assets (38,783) (23,620) Accounts payable (19,524) 10,141 Accrued employee compensation and benefits 12,339 (12,959) Accrued interest (16,601) (19,922) Other accrued liabilities (7,943) (5,534) Unearned revenue 530 11,539 Other, net (1,590) (2,078) Total $ (72,567) $ (28,812)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Components of employee benefit plan expense	The components of the employee benefit plan expense consisted of the following: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Interest cost $ 5,814 $ 4,333 $ 17,684 $ 12,999 Expected return on plan assets, net of expenses (6,302) (6,227) (18,915) (18,675) Amortization of actuarial loss and prior service cost 5 997 14 3,026 Total for defined benefit pension plan (483) (897) (1,217) (2,650) SERPs 232 214 698 642 Defined contribution plan 3,530 3,258 12,125 11,582 Net periodic benefit cost $ 3,279 $ 2,575 $ 11,606 $ 9,574

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Information regarding business segments	Information regarding our business segments is as follows: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Segment operating revenues: Local Media $ 353,061 $ 378,438 $ 1,017,203 $ 1,060,918 Scripps Networks 215,393 235,401 663,095 713,398 Other 2,620 2,594 10,149 10,638 Intersegment eliminations (4,545) (4,332) (13,304) (12,680) Total operating revenues $ 566,529 $ 612,101 $ 1,677,143 $ 1,772,274 Segment profit (loss): Local Media $ 74,865 $ 99,607 $ 201,725 $ 234,742 Scripps Networks 49,661 71,984 161,530 230,357 Other (6,263) (6,791) (14,074) (12,253) Shared services and corporate (20,810) (19,611) (67,546) (60,937) Acquisition and related integration costs — — — (1,642) Restructuring costs (4,705) — (29,208) — Depreciation and amortization of intangible assets (38,588) (39,565) (115,759) (120,329) Impairment of goodwill — — (686,000) — Gains (losses), net on disposal of property and equipment (1,066) (1,593) (2,320) (5,651) Interest expense (56,916) (41,917) (158,029) (114,427) Gain on extinguishment of debt — — — 1,234 Defined benefit pension plan income 251 683 519 2,008 Miscellaneous, net 1,309 (494) 131 1,269 Income (loss) from operations before income taxes $ (2,262) $ 62,303 $ (709,031) $ 154,371 Depreciation: Local Media $ 9,881 $ 9,997 $ 29,521 $ 30,665 Scripps Networks 4,892 4,889 14,558 14,504 Other 47 45 137 133 Shared services and corporate 280 409 1,074 1,220 Total depreciation $ 15,100 $ 15,340 $ 45,290 $ 46,522 Amortization of intangible assets: Local Media $ 8,980 $ 8,520 $ 26,941 $ 26,481 Scripps Networks 13,009 14,209 39,027 42,627 Other 447 471 1,345 1,423 Shared services and corporate 1,052 1,025 3,156 3,276 Total amortization of intangible assets $ 23,488 $ 24,225 $ 70,469 $ 73,807 Additions to property and equipment: Local Media $ 15,123 $ 6,803 $ 36,530 $ 23,017 Scripps Networks 1,225 2,241 3,920 10,677 Other — 9 34 54 Shared services and corporate 495 71 1,469 331 Total additions to property and equipment $ 16,843 $ 9,124 $ 41,953 $ 34,079
Disaggregation of principal revenue generating activities	A disaggregation of the principal activities from which we generate revenue is as follows: Three Months Ended Nine Months Ended (in thousands) 2023 2022 2023 2022 Operating revenues: Core advertising $ 346,037 $ 371,064 $ 1,061,868 $ 1,152,860 Political 9,130 65,715 16,501 96,547 Distribution 203,859 167,250 571,320 497,012 Other 7,503 8,072 27,454 25,855 Total operating revenues $ 566,529 $ 612,101 $ 1,677,143 $ 1,772,274

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of accumulated other comprehensive income (loss)	Changes in accumulated other comprehensive income (loss) ("AOCI") by component, including items reclassified out of AOCI, were as follows: Three Months Ended September 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, June 30, 2023 $ (77,277) $ (144) $ (77,421) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $8 (a) 25 — 25 Net current-period other comprehensive income (loss) 25 — 25 Ending balance, September 30, 2023 $ (77,252) $ (144) $ (77,396) Three Months Ended September 30, 2022 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, June 30, 2022 $ (72,059) $ (190) $ (72,249) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $253 (a) 813 3 816 Net current-period other comprehensive income (loss) 813 3 816 Ending balance, September 30, 2022 $ (71,246) $ (187) $ (71,433) Nine Months Ended September 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2022 $ (77,327) $ (144) $ (77,471) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $24 (a) 75 — 75 Net current-period other comprehensive income (loss) 75 — 75 Ending balance, September 30, 2023 $ (77,252) $ (144) $ (77,396) Nine Months Ended September 30, 2022 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2021 $ (73,713) $ (196) $ (73,909) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $768 (a) 2,467 9 2,476 Net current-period other comprehensive income (loss) 2,467 9 2,476 Ending balance, September 30, 2022 $ (71,246) $ (187) $ (71,433) (a) Actuarial gain (loss) is included in defined benefit pension plan expense in the Condensed Consolidated Statements of Operations

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 3,454		$ 3,454		$ 4,963
Unearned revenue	18,713		18,713		$ 18,183
Prior year unearned revenue recognized in period			9,600
Share-based compensation costs	$ 3,500	$ 3,900	$ 16,100	$ 17,800
Potentially dilutive shares (in shares)			420,000
Antidilutive RSUs outstanding (in shares)			3,400,000	200,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator (for basic and diluted earnings per share)
Net income (loss)	$ (3,653)	$ 46,248	$ (692,022)	$ 110,353
Less income allocated to RSUs (basic)	0	(885)	0	(1,831)
Less income allocated to RSUs (diluted)	0	(885)	0	(1,831)
Less preferred stock dividends	(12,576)	(12,576)	(37,729)	(37,729)
Numerator for basic earnings per share	(16,229)	32,787	(729,751)	70,793
Numerator for diluted earnings per share	$ (16,229)	$ 32,787	$ (729,751)	$ 70,793
Denominator
Basic weighted-average shares outstanding (in shares)	84,433	83,360	84,162	83,141
Effect of dilutive securities (in shares)	0	1,964	0	5,056
Diluted weighted-average shares outstanding (in shares)	84,433	85,324	84,162	88,197

Acquisitions - Acquisition Info

Acquisitions - Acquisition Information (Details) - USD ($) $ in Thousands		9 Months Ended
	Jan. 05, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Net cash consideration		$ 0	$ 13,797
Goodwill		$ 2,234,574		$ 2,920,574
Nuvyyo
Business Acquisition [Line Items]
Net cash consideration	$ 13,800
Amortizable intangible assets	7,200
Goodwill	$ 7,200
Nuvyyo | Minimum
Business Acquisition [Line Items]
Intangible asset, estimated amortization period	3 years
Nuvyyo | Maximum
Business Acquisition [Line Items]
Intangible asset, estimated amortization period	5 years

Restructuring Costs and Other_3

Restructuring Costs and Other Charges and Credits - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring costs	$ 4,700					$ 29,200
Acquisition and related integration costs	0			$ 0		0	$ 1,642
Gain on extinguishment of debt	$ 0		$ 7,400	$ 0	$ 1,200	0	$ 1,234
TrueReal Restructuring
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Annual savings						40,000
Severance related charges						8,900
Operating lease impairment charges						$ 1,100
TrueReal Restructuring | Write-Down of Programming Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring costs incurred		$ 13,600
Senior unsecured notes, due in 2027
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment					42,200
Senior secured notes, due in 2029
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment					26,600
Senior unsecured notes, due in 2031
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment					$ 54,500

Restructuring Costs and Other_4

Restructuring Costs and Other Charges and Credits - Changes in Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Restructuring Reserve [Roll Forward]
Net charges	$ 4,705	$ 0	$ 29,208	$ 0
TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			0
Net charges			29,208
Payments			(9,442)
Non-cash			(15,278)
Liability, end of period	4,488		4,488
Severance and Employee Benefits | TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			0
Net charges			8,887
Payments			(5,001)
Non-cash			(593)
Liability, end of period	3,293		3,293
Other Restructuring | TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			0
Net charges			20,321
Payments			(4,441)
Non-cash			(14,685)
Liability, end of period	$ 1,195		$ 1,195

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022
Operating Loss Carryforwards [Line Items]
Effective income tax rate		2.40%	29%
Net impact of various items effecting the income tax effective rate		$ 1.4	$ (1)
Discrete tax benefit due to impairment of goodwill	$ 16.9
State jurisdiction
Operating Loss Carryforwards [Line Items]
Impact of change in state tax rate		$ 1.1	$ (4)

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Option to extend leases, term			5 years
Option to terminate leases, term			1 year
Operating lease costs	$ 6,400	$ 6,600	$ 19,700	$ 19,800
Short-term lease costs	1,200	$ 400	2,500	$ 1,100
Finance lease right-of-use asset amortization	200		600
Finance lease interest expense	$ 500		$ 1,600
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms			1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms			35 years

Leases - Information Related to

Leases - Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
Right-of-use assets	$ 103,428	$ 117,869
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Other current liabilities	$ 20,369	19,599
Operating lease liabilities	91,458	106,866
Financing Leases
Property and equipment, at cost	28,321	28,321
Accumulated depreciation	663	69
Property and equipment, net	27,658	28,252
Other current liabilities	0	426
Other liabilities	$ 29,828	$ 28,063
Weighted Average Remaining Lease Term
Operating leases	7 years 6 months 21 days	8 years 2 months 19 days
Finance leases	34 years 4 months 17 days	35 years 6 months
Weighted Average Discount Rate
Operating leases	4.36%	4.34%
Finance leases	7.07%	7.10%

Leases - Lease Cost Information

Leases - Lease Cost Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 6,740	$ 6,246	$ 19,448	$ 18,502
Operating cash flows from finance leases	213	0	213	0
Financing cash flows from finance leases	0	0	0	0
Right-of-use assets obtained in exchange for operating lease obligations	1,736	2,133	4,175	3,596
Right-of-use assets obtained in exchange for finance lease obligations	$ 0	$ 0	$ 0	$ 0

Leases - Minimum Lease Payments

Leases - Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Operating Leases
Remainder of 2023	$ 7,538
2024	25,093
2025	20,437
2026	18,336
2027	15,742
Thereafter	46,031
Total future minimum lease payments	133,177
Less: Imputed interest	(21,350)
Total	111,827
Finance Leases
Remainder of 2023	213
2024	1,302
2025	1,776
2026	1,824
2027	1,875
Thereafter	92,050
Total future minimum lease payments	99,040
Less: Imputed interest	(69,212)
Total	$ 29,828

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Gross beginning balance	$ 3,158,488
Accumulated impairment losses, beginning balance	(237,914)
Net balance, beginning of period	2,920,574
Gross ending balance	3,158,488
Accumulated impairment losses, ending balance	(923,914)
Net balance, end of period	2,234,574
Local Media
Goodwill [Roll Forward]
Gross beginning balance	1,122,408
Accumulated impairment losses, beginning balance	(216,914)
Net balance, beginning of period	905,494
Gross ending balance	1,122,408
Accumulated impairment losses, ending balance	(216,914)
Net balance, end of period	905,494
Scripps Networks
Goodwill [Roll Forward]
Gross beginning balance	2,028,890
Accumulated impairment losses, beginning balance	(21,000)
Net balance, beginning of period	2,007,890
Gross ending balance	2,028,890
Accumulated impairment losses, ending balance	(707,000)
Net balance, end of period	1,321,890
Other
Goodwill [Roll Forward]
Gross beginning balance	7,190
Accumulated impairment losses, beginning balance	0
Net balance, beginning of period	7,190
Gross ending balance	7,190
Accumulated impairment losses, ending balance	0
Net balance, end of period	$ 7,190

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Carrying amount:
Total carrying amount	$ 1,417,678	$ 1,417,341
Accumulated amortization:
Total accumulated amortization	(446,372)	(375,902)
Net amortizable intangible assets	971,306	1,041,439
Indefinite-lived intangible assets — FCC licenses	779,815	779,815
Total other intangible assets	1,751,121	1,821,254
Television affiliation relationships
Carrying amount:
Total carrying amount	1,060,244	1,060,244
Accumulated amortization:
Total accumulated amortization	(262,645)	(222,092)
Customer lists and advertiser relationships
Carrying amount:
Total carrying amount	220,997	220,997
Accumulated amortization:
Total accumulated amortization	(125,640)	(106,654)
Other
Carrying amount:
Total carrying amount	136,437	136,100
Accumulated amortization:
Total accumulated amortization	$ (58,087)	$ (47,156)

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Goodwill [Line Items]
Estimated amortization expense, remainder of 2023	$ 23,500			$ 23,500
Estimated amortization expense, 2024	92,800			92,800
Estimated amortization expense, 2025	89,700			89,700
Estimated amortization expense, 2026	86,100			86,100
Estimated amortization expense, 2027	83,200			83,200
Estimated amortization expense, 2028	62,000			62,000
Estimated amortization expense, in later years	534,000			534,000
Impairment of goodwill	$ 0	$ 686,000	$ 0	$ 686,000	$ 0
Local Media
Goodwill [Line Items]
Percentage fair value in excess of carrying value						30%
Scripps Networks
Goodwill [Line Items]
Percentage fair value in excess of carrying value						2.50%

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	May 01, 2019
Components of Long-term debt
Total outstanding principal	$ 2,964,822	$ 2,920,781
Less: Debt issuance costs and issuance discounts	(40,820)	(48,376)
Current portion of long-term debt	(15,612)	(18,612)
Net carrying value of long-term debt	2,908,390	2,853,793
Fair value of long-term debt	2,565,051	2,677,845
Senior secured notes, due in 2029 | Senior secured debt
Components of Long-term debt
Total outstanding principal	523,356	523,356
Senior unsecured notes, due in 2027 | Senior unsecured notes
Components of Long-term debt
Total outstanding principal	425,667	425,667
Senior unsecured notes, due in 2031 | Senior unsecured notes
Components of Long-term debt
Total outstanding principal	392,071	392,071
Term loan, due in 2024
Components of Long-term debt
Total outstanding principal	0	284,250
Term loan, due in 2026
Components of Long-term debt
Total outstanding principal	730,728	736,437
Less: Debt issuance costs and issuance discounts			$ (23,000)
Term loan, due in 2028
Components of Long-term debt
Total outstanding principal	553,000	559,000
Revolving credit facility | Revolving credit facility
Components of Long-term debt
Total outstanding principal	$ 340,000	$ 0

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)						1 Months Ended	3 Months Ended				9 Months Ended		12 Months Ended
	Jul. 31, 2023 USD ($)	Jan. 07, 2021 USD ($)	Dec. 30, 2020 USD ($)	Jul. 26, 2019 USD ($)	May 01, 2019 USD ($)	Feb. 28, 2023 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Oct. 02, 2017 USD ($)
Debt Instrument [Line Items]
Debt issuance costs							$ 40,820,000	$ 48,376,000			$ 40,820,000		$ 48,376,000
Aggregate amount of debt principal repurchase program authorized						$ 500,000,000
Gain on extinguishment of debt							0	$ 7,400,000	$ 0	$ 1,200,000	0	$ 1,234,000
Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Outstanding under revolving credit facility							$ 340,000,000				$ 340,000,000
Interest rate on line of credit facility							8.18%				8.18%
Revolving credit facility | Revolving credit facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Weighted average interest rate during the period											8.03%
Revolving credit facility | Revolving credit facility | Minimum
Debt Instrument [Line Items]
Percentage of commitment fees of total unused commitment under revolving credit facility	0.30%
Revolving credit facility | Revolving credit facility | Maximum
Debt Instrument [Line Items]
Percentage of commitment fees of total unused commitment under revolving credit facility	0.50%
Revolving credit facility | Letter of credit
Debt Instrument [Line Items]
Letters of credit outstanding	$ 7,100,000						$ 6,600,000				$ 6,600,000
Term loan, due in 2024
Debt Instrument [Line Items]
Debt face value														$ 300,000,000
Variable interest rate								6.38%					6.38%
Weighted average interest rate							7.22%		4.21%		7.22%	4.21%
Loan principal payment	283,000,000
Written off deferred financing costs	400,000
Term loan, due in 2026
Debt Instrument [Line Items]
Debt face value					$ 765,000,000
Annual principal payments					7,600,000
Variable interest rate							7.99%	6.95%			7.99%		6.95%
Weighted average interest rate							7.93%		4.77%		7.93%	4.77%
Minimum SOFR rate		0.75%
Debt issuance costs					$ 23,000,000
Term loan, due in 2026 | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
SOFR plus margin range					2.56%
Sixth Amendment Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
SOFR plus margin range		3%
Sixth Amendment Facility | Term loans
Debt Instrument [Line Items]
Debt issuance costs		$ 23,400,000
Sixth Amendment Facility | Term loans | ION Media
Debt Instrument [Line Items]
Debt face value		800,000,000
Term loan, due in 2028
Debt Instrument [Line Items]
Annual principal payments		$ 8,000,000
Minimum SOFR rate		0.75%
Loan principal payment													$ 100,000,000
Written off deferred financing costs													$ 1,100,000
Term loan, due in 2028 | Term loans
Debt Instrument [Line Items]
Weighted average interest rate							8.21%		4.96%		8.21%	4.96%
Debt stated rate							8.43%	7.13%			8.43%		7.13%
Senior secured notes due 2029 | Senior notes
Debt Instrument [Line Items]
Debt face value			$ 550,000,000
Debt issuance costs			$ 13,800,000
Debt stated rate			3.875%
Debt issuance price as a percentage of par			100%
Loan principal payment										26,600,000
Senior secured notes due 2029 | Senior notes | Redemption Period One
Debt Instrument [Line Items]
Redemption as a percent of principal			40%
Debt redemption price			103.875%
Senior secured notes due 2029 | Senior notes | Redemption Period Two
Debt Instrument [Line Items]
Debt redemption price			100%
Senior unsecured notes, due in 2027
Debt Instrument [Line Items]
Loan principal payment										42,200,000
Senior unsecured notes, due in 2027 | Senior notes
Debt Instrument [Line Items]
Debt face value				$ 500,000,000
Debt issuance costs				$ 10,700,000
Debt stated rate				5.875%
Debt issuance price as a percentage of par				100%
Loan principal payment								$ 16,800,000		42,200,000
Senior unsecured notes, due in 2031
Debt Instrument [Line Items]
Loan principal payment										54,500,000
Senior unsecured notes, due in 2031 | Senior notes
Debt Instrument [Line Items]
Debt face value			$ 500,000,000
Debt issuance costs			$ 12,500,000
Debt stated rate			5.375%
Debt issuance price as a percentage of par			100%
Loan principal payment								$ 31,400,000		$ 54,500,000
Senior unsecured notes, due in 2031 | Senior notes | Redemption Period One
Debt Instrument [Line Items]
Redemption as a percent of principal			40%
Debt redemption price			105.375%
Senior unsecured notes, due in 2031 | Senior notes | Redemption Period Two
Debt Instrument [Line Items]
Debt redemption price			100%
Eighth amendment to revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Revolving credit borrowing capacity	585,000,000	$ 400,000,000
Amount borrowed from revolving credit line	$ 283,000,000
Eighth amendment to revolving credit facility | Revolving credit facility | Through December 31, 2024
Debt Instrument [Line Items]
Net leverage ratio requirement	5
Eighth amendment to revolving credit facility | Revolving credit facility | Through September 30, 2025
Debt Instrument [Line Items]
Net leverage ratio requirement	4.75
Eighth amendment to revolving credit facility | Revolving credit facility | After September 30, 2025
Debt Instrument [Line Items]
Net leverage ratio requirement	4.50
Eighth amendment to revolving credit facility | Revolving credit facility | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
SOFR plus margin range	1.75%
Eighth amendment to revolving credit facility | Revolving credit facility | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
SOFR plus margin range	2.75%

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Other liabilities
Employee compensation and benefits	$ 27,266	$ 25,916
Deferred FCC repack income	42,895	46,205
Programming liability	254,396	263,093
Liability for pension benefits	76,562	78,279
Liabilities for uncertain tax positions	14,842	14,144
Finance leases	29,828	28,063
Other	25,770	28,359
Other liabilities (less current portion)	$ 471,559	$ 484,059

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Other Changes in Certain Working Capital Accounts, Net
Accounts receivable	$ (995)	$ 13,621
Other current assets	(38,783)	(23,620)
Accounts payable	(19,524)	10,141
Accrued employee compensation and benefits	12,339	(12,959)
Accrued interest	(16,601)	(19,922)
Other accrued liabilities	(7,943)	(5,534)
Unearned revenue	530	11,539
Other, net	(1,590)	(2,078)
Total	$ (72,567)	$ (28,812)

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 3,279	$ 2,575	$ 11,606	$ 9,574
Defined benefit plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	5,814	4,333	17,684	12,999
Expected return on plan assets, net of expenses	(6,302)	(6,227)	(18,915)	(18,675)
Amortization of actuarial loss and prior service cost	5	997	14	3,026
Total for defined benefit pension plan	(483)	(897)	(1,217)	(2,650)
SERPs
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	232	214	698	642
Defined contribution plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 3,530	$ 3,258	$ 12,125	$ 11,582

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - SERPs $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions to benefit plan	$ 0.9
Estimated future contributions	$ 0.5

Segment Information - Narrative

Segment Information - Narrative (Details) - Local Media	Sep. 30, 2023 affiliate lowPowerStation station
Segment Reporting Information [Line Items]
Number of local broadcast stations | station	60
Number of low power stations operated | lowPowerStation	10
ABC affiliates
Segment Reporting Information [Line Items]
Number of affiliates	18
NBC affiliates
Segment Reporting Information [Line Items]
Number of affiliates	11
CBS affiliates
Segment Reporting Information [Line Items]
Number of affiliates	9
FOX affiliates
Segment Reporting Information [Line Items]
Number of affiliates	4
CW affiliates
Segment Reporting Information [Line Items]
Number of affiliates	7
Number of full power stations | station	4
Number of multicast | station	3
Independent stations
Segment Reporting Information [Line Items]
Number of affiliates	7

Segment Information - Schedule

Segment Information - Schedule of Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Information regarding business segments
Total operating revenues	$ 566,529			$ 612,101		$ 1,677,143	$ 1,772,274
Acquisition and related integration costs	0			0		0	(1,642)
Restructuring costs	(4,705)			0		(29,208)	0
Depreciation and amortization of intangible assets	(38,588)			(39,565)		(115,759)	(120,329)
Impairment of goodwill	0	$ (686,000)		0		(686,000)	0
Gains (losses), net on disposal of property and equipment	(1,066)			(1,593)		(2,320)	(5,651)
Interest expense	(56,916)			(41,917)		(158,029)	(114,427)
Gain on extinguishment of debt	0		$ 7,400	0	$ 1,200	0	1,234
Defined benefit pension plan income	251			683		519	2,008
Miscellaneous, net	1,309			(494)		131	1,269
Income (loss) from operations before income taxes	(2,262)			62,303		(709,031)	154,371
Depreciation:
Total depreciation	15,100			15,340		45,290	46,522
Amortization of intangible assets:
Total amortization of intangible assets	23,488			24,225		70,469	73,807
Additions to property and equipment:
Total additions to property and equipment	16,843			9,124		41,953	34,079
Intersegment eliminations
Information regarding business segments
Total operating revenues	(4,545)			(4,332)		(13,304)	(12,680)
Shared services and corporate
Information regarding business segments
Segment profit (loss):	(20,810)			(19,611)		(67,546)	(60,937)
Depreciation:
Total depreciation	280			409		1,074	1,220
Amortization of intangible assets:
Total amortization of intangible assets	1,052			1,025		3,156	3,276
Additions to property and equipment:
Total additions to property and equipment	495			71		1,469	331
Local Media | Operating segments
Information regarding business segments
Total operating revenues	353,061			378,438		1,017,203	1,060,918
Segment profit (loss):	74,865			99,607		201,725	234,742
Depreciation:
Total depreciation	9,881			9,997		29,521	30,665
Amortization of intangible assets:
Total amortization of intangible assets	8,980			8,520		26,941	26,481
Additions to property and equipment:
Total additions to property and equipment	15,123			6,803		36,530	23,017
Scripps Networks | Operating segments
Information regarding business segments
Total operating revenues	215,393			235,401		663,095	713,398
Segment profit (loss):	49,661			71,984		161,530	230,357
Depreciation:
Total depreciation	4,892			4,889		14,558	14,504
Amortization of intangible assets:
Total amortization of intangible assets	13,009			14,209		39,027	42,627
Additions to property and equipment:
Total additions to property and equipment	1,225			2,241		3,920	10,677
Other | Operating segments
Information regarding business segments
Total operating revenues	2,620			2,594		10,149	10,638
Segment profit (loss):	(6,263)			(6,791)		(14,074)	(12,253)
Depreciation:
Total depreciation	47			45		137	133
Amortization of intangible assets:
Total amortization of intangible assets	447			471		1,345	1,423
Additions to property and equipment:
Total additions to property and equipment	$ 0			$ 9		$ 34	$ 54

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue Generating Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 566,529	$ 612,101	$ 1,677,143	$ 1,772,274
Core advertising
Disaggregation of Revenue [Line Items]
Total operating revenues	346,037	371,064	1,061,868	1,152,860
Political
Disaggregation of Revenue [Line Items]
Total operating revenues	9,130	65,715	16,501	96,547
Distribution
Disaggregation of Revenue [Line Items]
Total operating revenues	203,859	167,250	571,320	497,012
Other
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 7,503	$ 8,072	$ 27,454	$ 25,855

Capital Stock (Details)

Capital Stock (Details) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 07, 2021 $ / shares shares	Sep. 30, 2023 USD ($) director classOfCommonShare	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) director classOfCommonShare	Sep. 30, 2022 USD ($)
Class of Stock [Line Items]
Classes of common shares | classOfCommonShare		2		2
Minimum number of directors up for election to entitle shareholders to vote | director		3		3
Percentage of directors up for election if more than minimum number		33.33%		33.33%
Preferred stock dividends | $		$ 12,000	$ 12,000	$ 36,000	$ 36,000
Preferred stock | Berkshire Hathaway | ION Media
Class of Stock [Line Items]
Preferred shares issued (in shares) | shares	6
Face value of preferred shares (in dollars per share) | $ / shares	$ 100,000
Preferred shares redemption price, as a percent	105%
Preferred stock dividend rate	8%
Preferred stock dividend rate if dividends not paid in cash	9%
Preferred stock dividends | $				$ 36,000	$ 36,000
Common stock, Class A | Berkshire Hathaway
Class of Stock [Line Items]
Number of shares purchasable by warrant (up to) (in shares) | shares	23,100
Exercise right of warrants (in dollars per share) | $ / shares	$ 13

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	$ 1,428,189	$ 2,019,614	$ 2,130,825	$ 1,970,434
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	25	816	75	2,476
Net current-period other comprehensive income (loss)	25	816	75	2,476
Equity, ending balance	1,416,675	2,059,211	1,416,675	2,059,211
Tax on amount reclassified from AOCI		253
Defined Benefit Pension Items
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(77,277)	(72,059)	(77,327)	(73,713)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	25	813	75	2,467
Net current-period other comprehensive income (loss)	25	813	75	2,467
Equity, ending balance	(77,252)	(71,246)	(77,252)	(71,246)
Tax on amount reclassified from AOCI	8		24	768
Other
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(144)	(190)	(144)	(196)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	0	3	0	9
Net current-period other comprehensive income (loss)	0	3	0	9
Equity, ending balance	(144)	(187)	(144)	(187)
AOCI Attributable to Parent
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(77,421)	(72,249)	(77,471)	(73,909)
Equity, ending balance	$ (77,396)	$ (71,433)	$ (77,396)	$ (71,433)