The E.W. Scripps Company (SSP) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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	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	2024
Document Fiscal Period Focus	Q2
Common stock, Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	74,185,126
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	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 26,651	$ 35,319
Accounts receivable (less allowances — $3,682 and $5,041)	578,610	610,541
Miscellaneous	49,441	30,233
Total current assets	654,702	676,093
Investments	23,895	23,265
Property and equipment	464,405	455,255
Operating lease right-of-use assets	96,836	99,194
Goodwill	1,968,574	1,968,574
Other intangible assets	1,681,555	1,727,178
Programming	381,131	449,943
Miscellaneous	9,858	10,618
Total Assets	5,280,956	5,410,120
Current liabilities:
Accounts payable	85,521	76,383
Unearned revenue	14,903	12,181
Current portion of long-term debt	15,612	15,612
Accrued liabilities:
Employee compensation and benefits	37,342	60,869
Programming liability	146,420	171,860
Accrued interest	31,365	32,030
Miscellaneous	48,237	43,934
Other current liabilities	58,472	64,950
Total current liabilities	437,872	477,819
Long-term debt (less current portion)	2,853,692	2,896,824
Deferred income taxes	297,629	307,399
Operating lease liabilities	85,963	87,714
Other liabilities (less current portion)	437,615	484,181
Equity:
Total preferred and common stock	416,563	415,397
Additional paid-in capital	1,446,231	1,438,518
Accumulated deficit	(619,167)	(622,222)
Accumulated other comprehensive loss, net of income taxes	(75,442)	(75,510)
Total equity	1,168,185	1,156,183
Total Liabilities and Equity	5,280,956	5,410,120
Preferred stock
Equity:
Preferred stock	0	0
Preferred stock, Series A
Equity:
Preferred stock	415,702	414,549
Common stock, Class A
Equity:
Common stock	742	729
Common stock, Voting
Equity:
Common stock	$ 119	$ 119

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 3,682	$ 5,041
Redemption value of preferred stock	$ 660,000
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
Redemption value of preferred stock	$ 659,656
Common stock, Class A
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	74,185,126	72,843,881
Common stock, shares outstanding (in shares)	74,185,126	72,843,881
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Revenues:
Total operating revenues	$ 573,629	$ 582,836	$ 1,135,093	$ 1,110,614
Operating Expenses:
Cost of revenues, excluding depreciation and amortization	327,107	316,824	655,640	625,284
Selling, general and administrative expenses, excluding depreciation and amortization	151,532	154,262	297,225	301,148
Restructuring costs	973	7,992	5,988	24,503
Depreciation	15,150	15,137	30,270	30,190
Amortization of intangible assets	23,318	23,491	46,886	46,981
Impairment of goodwill	0	686,000	0	686,000
Losses (gains), net on disposal of property and equipment	(157)	358	(10)	1,254
Total operating expenses	517,923	1,204,064	1,035,999	1,715,360
Operating income (loss)	55,706	(621,228)	99,094	(604,746)
Interest expense	(52,123)	(52,275)	(107,040)	(101,113)
Defined benefit pension plan income	177	134	354	268
Miscellaneous, net	(419)	(675)	16,402	(1,178)
Income (loss) from operations before income taxes	3,341	(674,044)	8,810	(706,769)
Provision (benefit) for income taxes	1,912	(4,215)	5,755	(18,400)
Net income (loss)	1,429	(669,829)	3,055	(688,369)
Preferred stock dividends	(14,432)	(12,577)	(28,809)	(25,153)
Net loss attributable to the shareholders of The E.W. Scripps Company	$ (13,003)	$ (682,406)	$ (25,754)	$ (713,522)
Net loss per basic share of common stock attributable to the shareholders of The E.W. Scripps Company (in dollars per share)	$ (0.15)	$ (8.10)	$ (0.30)	$ (8.49)
Net loss per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company (in dollars per share)	$ (0.15)	$ (8.10)	$ (0.30)	$ (8.49)
Advertising
Operating Revenues:
Total operating revenues	$ 365,981	$ 371,103	$ 715,739	$ 723,202
Distribution
Operating Revenues:
Total operating revenues	199,599	200,902	402,159	367,461
Other
Operating Revenues:
Total operating revenues	$ 8,049	$ 10,831	$ 17,195	$ 19,951

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,429	$ (669,829)	$ 3,055	$ (688,369)
Changes in defined benefit pension plans, net of tax of $11, $8, $22 and $16	29	25	58	50
Other	5	0	10	0
Total comprehensive income (loss) attributable to preferred and common stockholders	$ 1,463	$ (669,804)	$ 3,123	$ (688,319)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Tax on changes in defined benefit pension plans	$ 11	$ 8	$ 22	$ 16

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows from Operating Activities:
Net income (loss)	$ 3,055	$ (688,369)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	77,156	77,171
Impairment of goodwill	0	686,000
Losses (gains), net on disposal of property and equipment	(10)	1,254
Programming assets and liabilities	3,411	(27,438)
Restructuring impairment charges	0	14,406
Losses (gains) on sale of investments	(18,018)	0
Deferred income taxes	(9,792)	(19,028)
Stock and deferred compensation plans	12,756	15,897
Pension contributions, net of income/expense	(998)	(957)
Other changes in certain working capital accounts, net	(3,395)	(41,409)
Miscellaneous, net	7,632	7,378
Net operating activities	71,797	24,905
Cash Flows from Investing Activities:
Additions to property and equipment	(45,705)	(25,827)
Purchase of investments	(1,606)	(868)
Proceeds from sale of investments	18,108	0
Miscellaneous, net	225	10
Net investing activities	(28,978)	(26,685)
Cash Flows from Financing Activities:
Net borrowings (payments) under revolving credit facility	(40,000)	70,000
Payments on long-term debt	(7,806)	(9,306)
Preferred stock dividends	0	(24,000)
Tax payments related to shares withheld for vested stock and RSUs	(1,785)	(4,654)
Miscellaneous, net	(1,896)	(8,983)
Net cash provided by (used in) financing activities	(51,487)	23,057
Increase (decrease) in cash and cash equivalents	(8,668)	21,277
Cash and cash equivalents:
Beginning of year	35,319	18,027
End of period	26,651	39,304
Supplemental Cash Flow Disclosures
Interest paid	101,158	93,862
Income taxes paid	34,570	12,890
Non-cash investing information
Accrued capital expenditures	$ 471	$ 1,538

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, 2022		$ 2,130,825	$ 412,244	$ 836	$ 1,444,501	$ 350,715	$ (77,471)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		(688,319)				(688,369)	50
Preferred stock dividends		(24,000)	1,153			(25,153)
Compensation plans: shares issued	[1]	9,683		9	9,674
Equity, ending balance at Jun. 30, 2023		1,428,189	413,397	845	1,454,175	(362,807)	(77,421)
Equity, beginning balance at Mar. 31, 2023		2,099,808	412,820	843	1,443,992	319,599	(77,446)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		(669,804)				(669,829)	25
Preferred stock dividends		(12,000)	577			(12,577)
Compensation plans: shares issued	[2]	10,185		2	10,183
Equity, ending balance at Jun. 30, 2023		1,428,189	413,397	845	1,454,175	(362,807)	(77,421)
Equity, beginning balance at Dec. 31, 2023		1,156,183	414,549	848	1,438,518	(622,222)	(75,510)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		3,123				3,055	68
Preferred stock dividends		0	1,153		(1,153)
Compensation plans: shares issued	[3]	8,879		13	8,866
Equity, ending balance at Jun. 30, 2024		1,168,185	415,702	861	1,446,231	(619,167)	(75,442)
Equity, beginning balance at Mar. 31, 2024		1,161,962	415,125	854	1,442,055	(620,596)	(75,476)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		1,463				1,429	34
Preferred stock dividends		0	577		(577)
Compensation plans: shares issued	[4]	4,760		7	4,753
Equity, ending balance at Jun. 30, 2024		$ 1,168,185	$ 415,702	$ 861	$ 1,446,231	$ (619,167)	$ (75,442)
[1]Net of tax payments related to shares withheld for vested RSUs of $4,654 for the six months ended June 30, 2023.[2]Net of tax payments related to shares withheld for vested RSUs of $96 for the three months ended June 30, 2023.[3]Net of tax payments related to shares withheld for vested RSUs of $1,785 for the six months ended June 30, 2024.[4]Net of tax payments related to shares withheld for vested RSUs of $784 for the three months ended June 30, 2024 .

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - USD ($) $ / shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Amortization of Debt Issuance Costs	$ 577	$ 577	$ 1,153	$ 1,153
Preferred stock dividends (in dollars per share)		$ 2		$ 4
Net shares issued (in shares)	727,883	168,151	1,341,245	896,417
Tax payments related to shares withheld for vested stock and RSUs	$ 784	$ 96	$ 1,785	$ 4,654

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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 2023 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. 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. 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 also have digital presences across online, mobile, connected television and social platforms, reaching consumers on all devices and platforms they use to consume content. 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 11. 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 accounting for our defined benefit pension plan; 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 businesses. The advertising includes a combination of broadcast spots as well as digital and connected TV 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. Local advertising time is sold by each station's local sales staff who call upon advertising agencies and local businesses. National advertising time is generally sold by calling upon advertising agencies. Digital revenues are primarily generated from the sale of advertising to local and national customers on our business websites, tablet and mobile products, over-the-top apps and other platforms. Political Advertising — Political advertising is generally sold through our Washington, D.C. sales office. Advertising is sold to presidential, gubernatorial, U.S. Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) and 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 local 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 in our markets and the contracted rate per subscriber. Refer to Note 11. 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 $3.7 million at June 30, 2024 and $5.0 million at December 31, 2023. 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 $14.9 million at June 30, 2024 and substantially all is expected to be recognized within revenue or refunded over the next 12 months. Unearned revenue totaled $12.2 million at December 31, 2023. We recorded $6.5 million of revenue in the six months ended June 30, 2024 that was included in unearned revenue at December 31, 2023. 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 and other long-term liabilities in our Condensed Consolidated Balance Sheets. Lease 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. Lease 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. Our lease assets also include any payments made at or before commencement and are 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. Operating lease expense 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 2023 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 $5.0 million and $9.1 million for the second quarter of 2024 and 2023, respectively. Year-to-date share-based compensation costs totaled $9.6 million and $12.6 million in 2024 and 2023, respectively. Earnings Per Share (“EPS”) — Unvested awards of share-based payments with non-forfeitable 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 Six Months Ended (in thousands) 2024 2023 2024 2023 Numerator (for basic and diluted earnings per share) Net income (loss) $ 1,429 $ (669,829) $ 3,055 $ (688,369) Less preferred stock dividends (14,432) (12,577) (28,809) (25,153) Numerator for basic and diluted earnings per share $ (13,003) $ (682,406) $ (25,754) $ (713,522) Denominator Basic weighted-average shares outstanding 85,673 84,296 85,282 84,024 Effect of dilutive securities — — — — Diluted weighted-average shares outstanding 85,673 84,296 85,282 84,024 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 June 30, 2024, 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.

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Standards	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards In December 2023, the Financial Accounting Standards Board ("FASB") issued new guidance that modifies the rules on income tax disclosures. The guidance requires entities to disclose: (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). The guidance also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for our annual periods beginning in 2025, with early adoption permitted. The guidance will be applied on a prospective basis, but retrospective application is permitted. We are currently assessing the impact of this new guidance on our disclosures. In November 2023, the FASB issued new guidance which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for our annual period beginning in fiscal year 2024 and interim periods beginning in the first quarter of 2025. Early adoption is permitted. The guidance will be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently assessing the impact of this new guidance on our disclosures.

Restructuring Costs and Other C

Restructuring Costs and Other Charges and Credits	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Costs and Other Charges and Credits	Restructuring Costs and Other Charges and Credits Restructuring and Reorganization In January 2023, we announced a strategic restructuring and reorganization of the Company to 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 created 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. Restructuring costs in the second quarter of 2024 and 2023 totaled $1.0 million and $8.0 million, respectively. Year-to-date restructuring costs totaled $6.0 million and $24.5 million in 2024 and 2023, respectively. Restructuring costs in 2024 include severance charges and outside consulting fees associated with the ongoing strategic reorganization of the Company. Year-to-date 2023 costs included a $13.6 million first quarter charge related to the write-down of certain programming assets in connection with the shutdown of the TrueReal network. Additionally, year-to-date 2023 restructuring costs also included employee severance related charges of $7.8 million, operating lease impairment charges of $0.8 million and other restructuring charges primarily attributed to strategic reorganization consulting fees. Six Months Ended June 30, 2024 and 2023 (in thousands) Severance and Employee Benefits Other Restructuring Charges Total Liability as of December 31, 2023 $ 6,735 $ 1,430 $ 8,165 Net charges 4,892 1,096 5,988 Payments (10,890) (1,074) (11,964) Non-cash (a) — — — Liability as of June 30, 2024 $ 737 $ 1,452 $ 2,189 Liability as of December 31, 2022 $ — $ — $ — Net charges 7,797 16,706 24,503 Payments (1,166) (2,300) (3,466) Non-cash (a) (740) (14,406) (15,146) Liability as of June 30, 2023 $ 5,891 $ — $ 5,891 (a) Represents share-based compensation costs and asset write-downs included in restructuring charges. Other Charges and Credits On February 9, 2024, following the completed sale of Broadcast Music, Inc. ("BMI") to New Mountain Capital, we received $18.1 million in pre-tax cash proceeds for our equity ownership in BMI. We did not have any carrying value associated with our BMI investment. This gain was included in Miscellaneous, net for the six months ended June 30, 2024.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
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 six months ended June 30, 2024 and 2023 was 65% and 2.6%, 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 was 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 ($3.8 million expense in 2024 and $1.3 million expense in 2023), state deferred rate changes ($0.7 million expense in 2024 and $6.7 million benefit in 2023) and state NOL valuation allowance changes. Additionally, in the second quarter of 2023, the income tax provision was impacted by a net discrete tax provision benefit of $16.9 million related to book impairment of tax deductible goodwill. 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	6 Months Ended
	Jun. 30, 2024
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 34 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 June 30, 2024 and 2023 totaled $5.7 million and $6.5 million, respectively, including short-term lease costs of $1.7 million and $0.9 million, respectively. Year-to-date June 30, 2024 and 2023 operating lease costs totaled $11.8 million and $13.3 million, respectively, including short-term lease costs of $2.7 million and $1.3 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended June 30, 2024 and 2023 and $0.4 million for both the six months ended June 30, 2024 and 2023. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended June 30, 2024 and 2023. Year-to-date June 30, 2024 and 2023 interest expense on the finance leases liability totaled $1.1 million and $1.0 million, respectively. 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 $ 96,836 $ 99,194 Other current liabilities 18,646 19,466 Operating lease liabilities 85,963 87,714 Finance Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 1,260 862 Property and equipment, net 27,061 27,459 Other liabilities 30,800 30,146 Weighted Average Remaining Lease Term Operating leases 7.51 years 7.41 years Finance leases 34.00 years 34.50 years Weighted Average Discount Rate Operating leases 4.76 % 4.43 % Finance leases 7.10 % 7.10 % Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,438 $ 6,329 $ 11,192 $ 12,708 Operating cash flows from finance leases 213 — 426 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations — — 10,095 2,439 Right-of-use assets obtained in exchange for finance lease obligations — — — — Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: (in thousands) Operating Finance Remainder of 2024 $ 12,002 $ 876 2025 22,414 1,776 2026 20,543 1,824 2027 17,605 1,875 2028 14,273 1,926 Thereafter 39,321 90,124 Total future minimum lease payments 126,158 98,401 Less: Imputed interest (21,549) (67,601) Total $ 104,609 $ 30,800
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 34 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 June 30, 2024 and 2023 totaled $5.7 million and $6.5 million, respectively, including short-term lease costs of $1.7 million and $0.9 million, respectively. Year-to-date June 30, 2024 and 2023 operating lease costs totaled $11.8 million and $13.3 million, respectively, including short-term lease costs of $2.7 million and $1.3 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.2 million for both the three months ended June 30, 2024 and 2023 and $0.4 million for both the six months ended June 30, 2024 and 2023. Interest expense on the finance leases liability totaled $0.5 million for both the three months ended June 30, 2024 and 2023. Year-to-date June 30, 2024 and 2023 interest expense on the finance leases liability totaled $1.1 million and $1.0 million, respectively. 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 $ 96,836 $ 99,194 Other current liabilities 18,646 19,466 Operating lease liabilities 85,963 87,714 Finance Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 1,260 862 Property and equipment, net 27,061 27,459 Other liabilities 30,800 30,146 Weighted Average Remaining Lease Term Operating leases 7.51 years 7.41 years Finance leases 34.00 years 34.50 years Weighted Average Discount Rate Operating leases 4.76 % 4.43 % Finance leases 7.10 % 7.10 % Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,438 $ 6,329 $ 11,192 $ 12,708 Operating cash flows from finance leases 213 — 426 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations — — 10,095 2,439 Right-of-use assets obtained in exchange for finance lease obligations — — — — Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: (in thousands) Operating Finance Remainder of 2024 $ 12,002 $ 876 2025 22,414 1,776 2026 20,543 1,824 2027 17,605 1,875 2028 14,273 1,926 Thereafter 39,321 90,124 Total future minimum lease payments 126,158 98,401 Less: Imputed interest (21,549) (67,601) Total $ 104,609 $ 30,800

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
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, 2023 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (973,000) — (1,189,914) Net balance as of December 31, 2023 $ 905,494 $ 1,055,890 $ 7,190 $ 1,968,574 Gross balance as of June 30, 2024 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (973,000) — (1,189,914) Net balance as of June 30, 2024 $ 905,494 $ 1,055,890 $ 7,190 $ 1,968,574 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 137,714 136,452 Total carrying amount 1,418,955 1,417,693 Accumulated amortization: Television affiliation relationships (303,198) (276,163) Customer lists and advertiser relationships (144,518) (132,161) Other (69,099) (61,606) Total accumulated amortization (516,815) (469,930) Net amortizable intangible assets 902,140 947,763 Indefinite-lived intangible assets — FCC licenses 779,415 779,415 Total other intangible assets $ 1,681,555 $ 1,727,178 Estimated amortization expense of intangible assets for each of the next five years is $46.4 million for the remainder of 2024, $90.3 million in 2025, $86.2 million in 2026, $83.2 million in 2027, $62.0 million in 2028, $62.0 million in 2029 and $472.0 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, sustained 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. The reporting unit valuations used to test goodwill and intangible assets for impairment 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. During the second quarter of 2023, we determined it was likely that the fair value of our Scripps Networks reporting unit may be below its carrying value at June 30, 2023. Following completion of our second quarter 2023 testing, we recognized a $686 million non-cash goodwill impairment charge. Upon completing our annual impairment test in the fourth quarter of 2023, we determined that the fair value of our Local Media reporting unit exceeded its carrying value by more than 20% and that an additional $266 million goodwill impairment charge was necessary for the Scripps Networks reporting unit. 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 levels of growth for the business, which, if not achieved, could impact the fair value and possibly result in an impairment of the goodwill in future periods. For example, a 50 basis point increase in the discount rate would reduce the fair value of the Scripps Networks reporting unit by approximately $90 million.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
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 $ 290,000 $ 330,000 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 2026 725,019 728,825 Term loan, due in 2028 547,000 551,000 Total outstanding principal 2,903,113 2,950,919 Less: Debt issuance costs and issuance discounts (33,809) (38,483) Less: Current portion (15,612) (15,612) Net carrying value of long-term debt $ 2,853,692 $ 2,896,824 Fair value of long-term debt * $ 2,224,175 $ 2,732,318 * 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"). Under the terms of the Eighth Amendment, we have a $585 million Revolving Credit Facility that 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 June 30, 2024, we had $290 million outstanding under the Revolving Credit Facility with an interest rate of 8.21%. The weighted-average interest rate over the period during which we had a drawn revolver balance in 2024 was 8.19%. As of June 30, 2024 and December 31, 2023, we had outstanding letters of credit totaling $6.9 million and $6.7 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. The weighted-average interest rate on the 2024 term loan was 7.10% for the six months ended June 30, 2023. 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 June 30, 2024 and December 31, 2023, the interest rate on the 2026 term loan was 8.02% and 8.03%, respectively. The weighted-average interest rate on the 2026 term loan was 8.00% and 7.66% for the six months ended June 30, 2024 and 2023, 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 June 30, 2024 and December 31, 2023, the interest rate on the 2028 term loan was 8.46% and 8.47%, respectively. The weighted-average interest rate on the 2028 term loan was 8.44% and 7.85% for the six months ended June 30, 2024 and 2023, 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 June 30, 2024, 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, 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 of 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. We may 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 permits an aggregate principal amount reduction of up to $500 million and expires on March 1, 2026. 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.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consisted of the following: (in thousands) As of As of Employee compensation and benefits $ 31,775 $ 29,249 Deferred FCC repack income 39,798 41,863 Programming liability 227,966 274,564 Liability for pension benefits 72,519 73,651 Liabilities for uncertain tax positions 17,097 16,334 Finance leases 30,800 30,146 Other 17,660 18,374 Other liabilities (less current portion) $ 437,615 $ 484,181

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2024
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: Six Months Ended (in thousands) 2024 2023 Accounts receivable $ 31,931 $ 1,064 Other current assets (19,208) (15,213) Accounts payable 2,608 (6,490) Accrued employee compensation and benefits (24,157) (624) Accrued interest (665) (149) Other accrued liabilities 8,855 (12,649) Unearned revenue 2,722 (3,911) Other, net (5,481) (3,437) Total $ (3,395) $ (41,409)

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2024
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 Six Months Ended (in thousands) 2024 2023 2024 2023 Interest cost $ 5,603 $ 5,935 $ 11,205 $ 11,870 Expected return on plan assets, net of expenses (6,018) (6,307) (12,036) (12,613) Amortization of actuarial loss and prior service cost 4 4 9 9 Total for defined benefit pension plan (411) (368) (822) (734) SERPs 234 234 468 466 Defined contribution plan 3,438 4,166 8,941 8,595 Net periodic benefit cost $ 3,261 $ 4,032 $ 8,587 $ 8,327 We contributed $0.6 million to fund current benefit payments for our SERPs during the six months ended June 30, 2024. During the remainder of 2024, we anticipate contributing an additional $0.8 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 2024.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
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 Scripps News and Court TV as well as popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus 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, 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 Six Months Ended (in thousands) 2024 2023 2024 2023 Segment operating revenues: Local Media $ 364,926 $ 352,219 $ 717,762 $ 664,142 Scripps Networks 208,720 231,229 417,998 447,702 Other 4,746 3,773 8,859 7,529 Intersegment eliminations (4,763) (4,385) (9,526) (8,759) Total operating revenues $ 573,629 $ 582,836 $ 1,135,093 $ 1,110,614 Segment profit (loss): Local Media $ 88,130 $ 81,017 $ 153,686 $ 126,860 Scripps Networks 37,747 60,343 87,401 111,869 Other (9,236) (6,279) (15,633) (7,811) Shared services and corporate (21,651) (23,331) (43,226) (46,736) Restructuring costs (973) (7,992) (5,988) (24,503) Depreciation and amortization of intangible assets (38,468) (38,628) (77,156) (77,171) Impairment of goodwill — (686,000) — (686,000) Gains (losses), net on disposal of property and equipment 157 (358) 10 (1,254) Interest expense (52,123) (52,275) (107,040) (101,113) Defined benefit pension plan income 177 134 354 268 Miscellaneous, net (419) (675) 16,402 (1,178) Income (loss) from operations before income taxes $ 3,341 $ (674,044) $ 8,810 $ (706,769) Depreciation: Local Media $ 10,153 $ 9,787 $ 20,186 $ 19,640 Scripps Networks 4,719 4,930 9,544 9,666 Other 70 45 130 90 Shared services and corporate 208 375 410 794 Total depreciation $ 15,150 $ 15,137 $ 30,270 $ 30,190 Amortization of intangible assets: Local Media $ 8,716 $ 8,981 $ 17,661 $ 17,961 Scripps Networks 12,976 13,009 25,953 26,018 Other 445 449 896 898 Shared services and corporate 1,181 1,052 2,376 2,104 Total amortization of intangible assets $ 23,318 $ 23,491 $ 46,886 $ 46,981 Additions to property and equipment: Local Media $ 17,943 $ 14,140 $ 33,404 $ 21,407 Scripps Networks 4,138 2,501 6,454 2,695 Other 609 34 727 34 Shared services and corporate 459 139 461 974 Total additions to property and equipment $ 23,149 $ 16,814 $ 41,046 $ 25,110 A disaggregation of the principal activities from which we generate revenue is as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Operating revenues: Core advertising $ 336,502 $ 367,257 $ 670,292 $ 715,831 Political 29,479 3,846 45,447 7,371 Distribution 199,599 200,902 402,159 367,461 Other 8,049 10,831 17,195 19,951 Total operating revenues $ 573,629 $ 582,836 $ 1,135,093 $ 1,110,614

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2024
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 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 shares, the dividend rate will be 8% per annum. Preferred stock dividends declared and paid were $24.0 million during the first six months of 2023. If dividends on the preferred 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 shares are outstanding. We did not declare or provide payment for either of the 2024 quarterly dividends. At June 30, 2024, aggregated undeclared and unpaid cumulative dividends totaled $27.3 million and the redemption value of the preferred stock totaled $660 million. Under the terms of the preferred shares, we are prohibited from paying dividends on and repurchasing our common shares until all preferred shares are redeemed. Class A Common Shares Stock Warrant — In connection with the issuance of the preferred 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 shares remain outstanding.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, March 31, 2024 $ (75,218) $ (258) $ (75,476) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $11 (a) 29 5 34 Net current-period other comprehensive income (loss) 29 5 34 Ending balance, June 30, 2024 $ (75,189) $ (253) $ (75,442) Three Months Ended June 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, March 31, 2023 $ (77,302) $ (144) $ (77,446) 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, June 30, 2023 $ (77,277) $ (144) $ (77,421) Six Months Ended June 30, 2024 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2023 $ (75,247) $ (263) $ (75,510) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $22 (a) 58 10 68 Net current-period other comprehensive income (loss) 58 10 68 Ending balance, June 30, 2024 $ (75,189) $ (253) $ (75,442) Six Months Ended June 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 $16 (a) 50 — 50 Net current-period other comprehensive income (loss) 50 — 50 Ending balance, June 30, 2023 $ (77,277) $ (144) $ (77,421) (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
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of 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. 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 also have digital presences across online, mobile, connected television and social platforms, reaching consumers on all devices and platforms they use to consume content. 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 11. 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 accounting for our defined benefit pension plan; 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 businesses. The advertising includes a combination of broadcast spots as well as digital and connected TV 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. Local advertising time is sold by each station's local sales staff who call upon advertising agencies and local businesses. National advertising time is generally sold by calling upon advertising agencies. Digital revenues are primarily generated from the sale of advertising to local and national customers on our business websites, tablet and mobile products, over-the-top apps and other platforms. Political Advertising — Political advertising is generally sold through our Washington, D.C. sales office. Advertising is sold to presidential, gubernatorial, U.S. Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) and 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 local 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 in our markets and the contracted rate per subscriber.
Revenue Recognition, Cost of Revenues and Contract Balances	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.
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 and other long-term liabilities in our Condensed Consolidated Balance Sheets. Lease 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. Lease 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. Our lease assets also include any payments made at or before commencement and are 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. Operating lease expense 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 2023 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”) —
Recently Adopted and Issued Accounting Standards	In December 2023, the Financial Accounting Standards Board ("FASB") issued new guidance that modifies the rules on income tax disclosures. The guidance requires entities to disclose: (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). The guidance also requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes. The guidance is effective for our annual periods beginning in 2025, with early adoption permitted. The guidance will be applied on a prospective basis, but retrospective application is permitted. We are currently assessing the impact of this new guidance on our disclosures. In November 2023, the FASB issued new guidance which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for our annual period beginning in fiscal year 2024 and interim periods beginning in the first quarter of 2025. Early adoption is permitted. The guidance will be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently assessing the impact of this new guidance on our disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
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 Six Months Ended (in thousands) 2024 2023 2024 2023 Numerator (for basic and diluted earnings per share) Net income (loss) $ 1,429 $ (669,829) $ 3,055 $ (688,369) Less preferred stock dividends (14,432) (12,577) (28,809) (25,153) Numerator for basic and diluted earnings per share $ (13,003) $ (682,406) $ (25,754) $ (713,522) Denominator Basic weighted-average shares outstanding 85,673 84,296 85,282 84,024 Effect of dilutive securities — — — — Diluted weighted-average shares outstanding 85,673 84,296 85,282 84,024

Restructuring Costs and Other_2

Restructuring Costs and Other Charges and Credits (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Changes in restructuring reserve	Six Months Ended June 30, 2024 and 2023 (in thousands) Severance and Employee Benefits Other Restructuring Charges Total Liability as of December 31, 2023 $ 6,735 $ 1,430 $ 8,165 Net charges 4,892 1,096 5,988 Payments (10,890) (1,074) (11,964) Non-cash (a) — — — Liability as of June 30, 2024 $ 737 $ 1,452 $ 2,189 Liability as of December 31, 2022 $ — $ — $ — Net charges 7,797 16,706 24,503 Payments (1,166) (2,300) (3,466) Non-cash (a) (740) (14,406) (15,146) Liability as of June 30, 2023 $ 5,891 $ — $ 5,891 (a) Represents share-based compensation costs and asset write-downs included in restructuring charges.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
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 $ 96,836 $ 99,194 Other current liabilities 18,646 19,466 Operating lease liabilities 85,963 87,714 Finance Leases Property and equipment, at cost 28,321 28,321 Accumulated depreciation 1,260 862 Property and equipment, net 27,061 27,459 Other liabilities 30,800 30,146 Weighted Average Remaining Lease Term Operating leases 7.51 years 7.41 years Finance leases 34.00 years 34.50 years Weighted Average Discount Rate Operating leases 4.76 % 4.43 % Finance leases 7.10 % 7.10 %
Schedule of lease cost information	Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,438 $ 6,329 $ 11,192 $ 12,708 Operating cash flows from finance leases 213 — 426 — Financing cash flows from finance leases — — — — Right-of-use assets obtained in exchange for operating lease obligations — — 10,095 2,439 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 June 30, 2024 were as follows: (in thousands) Operating Finance Remainder of 2024 $ 12,002 $ 876 2025 22,414 1,776 2026 20,543 1,824 2027 17,605 1,875 2028 14,273 1,926 Thereafter 39,321 90,124 Total future minimum lease payments 126,158 98,401 Less: Imputed interest (21,549) (67,601) Total $ 104,609 $ 30,800
Schedule of minimum lease payments under non-cancellable finance leases	Future minimum lease payments under non-cancellable leases as of June 30, 2024 were as follows: (in thousands) Operating Finance Remainder of 2024 $ 12,002 $ 876 2025 22,414 1,776 2026 20,543 1,824 2027 17,605 1,875 2028 14,273 1,926 Thereafter 39,321 90,124 Total future minimum lease payments 126,158 98,401 Less: Imputed interest (21,549) (67,601) Total $ 104,609 $ 30,800

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2023 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (973,000) — (1,189,914) Net balance as of December 31, 2023 $ 905,494 $ 1,055,890 $ 7,190 $ 1,968,574 Gross balance as of June 30, 2024 $ 1,122,408 $ 2,028,890 $ 7,190 $ 3,158,488 Accumulated impairment losses (216,914) (973,000) — (1,189,914) Net balance as of June 30, 2024 $ 905,494 $ 1,055,890 $ 7,190 $ 1,968,574
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 137,714 136,452 Total carrying amount 1,418,955 1,417,693 Accumulated amortization: Television affiliation relationships (303,198) (276,163) Customer lists and advertiser relationships (144,518) (132,161) Other (69,099) (61,606) Total accumulated amortization (516,815) (469,930) Net amortizable intangible assets 902,140 947,763 Indefinite-lived intangible assets — FCC licenses 779,415 779,415 Total other intangible assets $ 1,681,555 $ 1,727,178
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 137,714 136,452 Total carrying amount 1,418,955 1,417,693 Accumulated amortization: Television affiliation relationships (303,198) (276,163) Customer lists and advertiser relationships (144,518) (132,161) Other (69,099) (61,606) Total accumulated amortization (516,815) (469,930) Net amortizable intangible assets 902,140 947,763 Indefinite-lived intangible assets — FCC licenses 779,415 779,415 Total other intangible assets $ 1,681,555 $ 1,727,178

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Components of long-term debt	Long-term debt consisted of the following: (in thousands) As of As of Revolving credit facility $ 290,000 $ 330,000 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 2026 725,019 728,825 Term loan, due in 2028 547,000 551,000 Total outstanding principal 2,903,113 2,950,919 Less: Debt issuance costs and issuance discounts (33,809) (38,483) Less: Current portion (15,612) (15,612) Net carrying value of long-term debt $ 2,853,692 $ 2,896,824 Fair value of long-term debt * $ 2,224,175 $ 2,732,318 * 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)	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of other liabilities	Other liabilities consisted of the following: (in thousands) As of As of Employee compensation and benefits $ 31,775 $ 29,249 Deferred FCC repack income 39,798 41,863 Programming liability 227,966 274,564 Liability for pension benefits 72,519 73,651 Liabilities for uncertain tax positions 17,097 16,334 Finance leases 30,800 30,146 Other 17,660 18,374 Other liabilities (less current portion) $ 437,615 $ 484,181

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
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: Six Months Ended (in thousands) 2024 2023 Accounts receivable $ 31,931 $ 1,064 Other current assets (19,208) (15,213) Accounts payable 2,608 (6,490) Accrued employee compensation and benefits (24,157) (624) Accrued interest (665) (149) Other accrued liabilities 8,855 (12,649) Unearned revenue 2,722 (3,911) Other, net (5,481) (3,437) Total $ (3,395) $ (41,409)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Components of employee benefit plan expense	The components of the employee benefit plan expense consisted of the following: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Interest cost $ 5,603 $ 5,935 $ 11,205 $ 11,870 Expected return on plan assets, net of expenses (6,018) (6,307) (12,036) (12,613) Amortization of actuarial loss and prior service cost 4 4 9 9 Total for defined benefit pension plan (411) (368) (822) (734) SERPs 234 234 468 466 Defined contribution plan 3,438 4,166 8,941 8,595 Net periodic benefit cost $ 3,261 $ 4,032 $ 8,587 $ 8,327

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Information regarding business segments	Information regarding our business segments is as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Segment operating revenues: Local Media $ 364,926 $ 352,219 $ 717,762 $ 664,142 Scripps Networks 208,720 231,229 417,998 447,702 Other 4,746 3,773 8,859 7,529 Intersegment eliminations (4,763) (4,385) (9,526) (8,759) Total operating revenues $ 573,629 $ 582,836 $ 1,135,093 $ 1,110,614 Segment profit (loss): Local Media $ 88,130 $ 81,017 $ 153,686 $ 126,860 Scripps Networks 37,747 60,343 87,401 111,869 Other (9,236) (6,279) (15,633) (7,811) Shared services and corporate (21,651) (23,331) (43,226) (46,736) Restructuring costs (973) (7,992) (5,988) (24,503) Depreciation and amortization of intangible assets (38,468) (38,628) (77,156) (77,171) Impairment of goodwill — (686,000) — (686,000) Gains (losses), net on disposal of property and equipment 157 (358) 10 (1,254) Interest expense (52,123) (52,275) (107,040) (101,113) Defined benefit pension plan income 177 134 354 268 Miscellaneous, net (419) (675) 16,402 (1,178) Income (loss) from operations before income taxes $ 3,341 $ (674,044) $ 8,810 $ (706,769) Depreciation: Local Media $ 10,153 $ 9,787 $ 20,186 $ 19,640 Scripps Networks 4,719 4,930 9,544 9,666 Other 70 45 130 90 Shared services and corporate 208 375 410 794 Total depreciation $ 15,150 $ 15,137 $ 30,270 $ 30,190 Amortization of intangible assets: Local Media $ 8,716 $ 8,981 $ 17,661 $ 17,961 Scripps Networks 12,976 13,009 25,953 26,018 Other 445 449 896 898 Shared services and corporate 1,181 1,052 2,376 2,104 Total amortization of intangible assets $ 23,318 $ 23,491 $ 46,886 $ 46,981 Additions to property and equipment: Local Media $ 17,943 $ 14,140 $ 33,404 $ 21,407 Scripps Networks 4,138 2,501 6,454 2,695 Other 609 34 727 34 Shared services and corporate 459 139 461 974 Total additions to property and equipment $ 23,149 $ 16,814 $ 41,046 $ 25,110
Disaggregation of principal revenue generating activities	A disaggregation of the principal activities from which we generate revenue is as follows: Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Operating revenues: Core advertising $ 336,502 $ 367,257 $ 670,292 $ 715,831 Political 29,479 3,846 45,447 7,371 Distribution 199,599 200,902 402,159 367,461 Other 8,049 10,831 17,195 19,951 Total operating revenues $ 573,629 $ 582,836 $ 1,135,093 $ 1,110,614

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, March 31, 2024 $ (75,218) $ (258) $ (75,476) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $11 (a) 29 5 34 Net current-period other comprehensive income (loss) 29 5 34 Ending balance, June 30, 2024 $ (75,189) $ (253) $ (75,442) Three Months Ended June 30, 2023 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, March 31, 2023 $ (77,302) $ (144) $ (77,446) 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, June 30, 2023 $ (77,277) $ (144) $ (77,421) Six Months Ended June 30, 2024 (in thousands) Defined Benefit Pension Items Other Total Beginning balance, December 31, 2023 $ (75,247) $ (263) $ (75,510) Other comprehensive income (loss) before reclassifications — — — Amounts reclassified from AOCI, net of tax of $22 (a) 58 10 68 Net current-period other comprehensive income (loss) 58 10 68 Ending balance, June 30, 2024 $ (75,189) $ (253) $ (75,442) Six Months Ended June 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 $16 (a) 50 — 50 Net current-period other comprehensive income (loss) 50 — 50 Ending balance, June 30, 2023 $ (77,277) $ (144) $ (77,421) (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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 3,682		$ 3,682		$ 5,041
Unearned revenue	14,903		14,903		$ 12,181
Prior year unearned revenue recognized in period			6,500
Share-based compensation costs	$ 5,000	$ 9,100	$ 9,600	$ 12,600
Potentially dilutive shares (in shares)			420,000
Antidilutive RSUs outstanding (in shares)			4,000,000	3,400,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator (for basic and diluted earnings per share)
Net income (loss)	$ 1,429	$ (669,829)	$ 3,055	$ (688,369)
Less preferred stock dividends	(14,432)	(12,577)	(28,809)	(25,153)
Numerator for basic earnings per share	(13,003)	(682,406)	(25,754)	(713,522)
Numerator for diluted earnings per share	$ (13,003)	$ (682,406)	$ (25,754)	$ (713,522)
Denominator
Basic weighted-average shares outstanding (in shares)	85,673	84,296	85,282	84,024
Effect of dilutive securities (in shares)	0	0	0	0
Diluted weighted-average shares outstanding (in shares)	85,673	84,296	85,282	84,024

Restructuring Costs and Other_3

Restructuring Costs and Other Charges and Credits - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 09, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring costs		$ 1,000	$ 8,000	$ 6,000	$ 24,500
Proceeds from sale of investments	$ 18,100			18,108	$ 0
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
TrueReal Restructuring | Employee Severance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring costs incurred				7,800
TrueReal Restructuring | Operating Lease Impairment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring costs incurred				$ 800

Restructuring Costs and Other_4

Restructuring Costs and Other Charges and Credits - Changes in Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Net charges	$ 973	$ 7,992	$ 5,988	$ 24,503
TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			8,165	0
Net charges			5,988	24,503
Payments			(11,964)	(3,466)
Non-cash			0	(15,146)
Liability, end of period	2,189	5,891	2,189	5,891
Severance and Employee Benefits | TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			6,735	0
Net charges			4,892	7,797
Payments			(10,890)	(1,166)
Non-cash			0	(740)
Liability, end of period	737	5,891	737	5,891
Other Restructuring | TrueReal Restructuring
Restructuring Reserve [Roll Forward]
Liability, beginning of period			1,430	0
Net charges			1,096	16,706
Payments			(1,074)	(2,300)
Non-cash			0	(14,406)
Liability, end of period	$ 1,452	$ 0	$ 1,452	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating Loss Carryforwards [Line Items]
Effective income tax rate		65%	2.60%
Net impact of various items effecting the income tax effective rate		$ 3,800	$ 1,300
Discrete tax benefit due to impairment of goodwill	$ 16,900
State jurisdiction
Operating Loss Carryforwards [Line Items]
Impact of change in state tax rate		$ (700)	$ 6,700

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Option to extend leases, term			5 years
Option to terminate leases, term			1 year
Operating lease costs	$ 5,700	$ 6,500	$ 11,800	$ 13,300
Short-term lease costs	1,700	900	2,700	1,300
Finance lease right-of-use asset amortization	200	200	400	400
Finance lease interest expense	$ 500	$ 500	$ 1,100	$ 1,000
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms			1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms			34 years

Leases - Information Related to

Leases - Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
Right-of-use assets	$ 96,836	$ 99,194
Operating lease, liability, current, statement of financial position	Other Liabilities, Current
Other current liabilities	$ 18,646	19,466
Operating lease liabilities	85,963	87,714
Finance Leases
Property and equipment, at cost	28,321	28,321
Accumulated depreciation	1,260	862
Property and equipment, net	27,061	27,459
Other liabilities	$ 30,800	$ 30,146
Weighted Average Remaining Lease Term
Operating leases	7 years 6 months 3 days	7 years 4 months 28 days
Finance leases	34 years	34 years 6 months
Weighted Average Discount Rate
Operating leases	4.76%	4.43%
Finance leases	7.10%	7.10%

Leases - Lease Cost Information

Leases - Lease Cost Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 5,438	$ 6,329	$ 11,192	$ 12,708
Operating cash flows from finance leases	213	0	426	0
Financing cash flows from finance leases	0	0	0	0
Right-of-use assets obtained in exchange for operating lease obligations	0	0	10,095	2,439
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	Jun. 30, 2024 USD ($)
Operating Leases
Remainder of 2024	$ 12,002
2025	22,414
2026	20,543
2027	17,605
2028	14,273
Thereafter	39,321
Total future minimum lease payments	126,158
Less: Imputed interest	(21,549)
Total	104,609
Finance Leases
Remainder of 2024	876
2025	1,776
2026	1,824
2027	1,875
2028	1,926
Thereafter	90,124
Total future minimum lease payments	98,401
Less: Imputed interest	(67,601)
Total	$ 30,800

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Gross beginning balance	$ 3,158,488
Accumulated impairment losses, beginning balance	(1,189,914)
Net balance, beginning of period	1,968,574
Gross ending balance	3,158,488
Accumulated impairment losses, ending balance	(1,189,914)
Net balance, end of period	1,968,574
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	(973,000)
Net balance, beginning of period	1,055,890
Gross ending balance	2,028,890
Accumulated impairment losses, ending balance	(973,000)
Net balance, end of period	1,055,890
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	Jun. 30, 2024	Dec. 31, 2023
Carrying amount:
Total carrying amount	$ 1,418,955	$ 1,417,693
Accumulated amortization:
Total accumulated amortization	(516,815)	(469,930)
Net amortizable intangible assets	902,140	947,763
Indefinite-lived intangible assets — FCC licenses	779,415	779,415
Total other intangible assets	1,681,555	1,727,178
Television affiliation relationships
Carrying amount:
Total carrying amount	1,060,244	1,060,244
Accumulated amortization:
Total accumulated amortization	(303,198)	(276,163)
Customer lists and advertiser relationships
Carrying amount:
Total carrying amount	220,997	220,997
Accumulated amortization:
Total accumulated amortization	(144,518)	(132,161)
Other
Carrying amount:
Total carrying amount	137,714	136,452
Accumulated amortization:
Total accumulated amortization	$ (69,099)	$ (61,606)

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Line Items]
Estimated amortization expense, remainder of 2024	$ 46,400			$ 46,400
Estimated amortization expense, 2025	90,300			90,300
Estimated amortization expense, 2026	86,200			86,200
Estimated amortization expense, 2027	83,200			83,200
Estimated amortization expense, 2028	62,000			62,000
Estimated amortization expense, 2029	62,000			62,000
Estimated amortization expense, in later years	472,000			472,000
Impairment of goodwill	$ 0	$ 266,000	$ 686,000	$ 0	$ 686,000
Fair value reduction in reporting unit, 50 basis point decrease in discount rate		$ 90,000
Local Media
Goodwill [Line Items]
Percentage fair value in excess of carrying value		20%

Long-Term Debt - Components of

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	May 01, 2019
Components of Long-term debt
Total outstanding principal	$ 2,903,113	$ 2,950,919
Less: Debt issuance costs and issuance discounts	(33,809)	(38,483)
Current portion of long-term debt	(15,612)	(15,612)
Net carrying value of long-term debt	2,853,692	2,896,824
Fair value of long-term debt	2,224,175	2,732,318
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 2026
Components of Long-term debt
Total outstanding principal	725,019	728,825
Less: Debt issuance costs and issuance discounts			$ (23,000)
Term loan, due in 2028
Components of Long-term debt
Total outstanding principal	547,000	551,000
Revolving credit facility | Revolving credit facility
Components of Long-term debt
Total outstanding principal	$ 290,000	$ 330,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)						1 Months Ended	6 Months Ended
	Jul. 31, 2023 USD ($)	Jan. 07, 2021 USD ($)	Dec. 30, 2020 USD ($)	Jul. 26, 2019 USD ($)	May 01, 2019 USD ($)	Feb. 28, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023	Dec. 31, 2023 USD ($)	Oct. 02, 2017 USD ($)
Debt Instrument [Line Items]
Debt issuance costs							$ 33,809,000		$ 38,483,000
Aggregate amount of debt principal repurchase program authorized						$ 500,000,000
Eighth amendment to revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Revolving credit borrowing capacity	$ 585,000,000
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
Debt Instrument [Line Items]
SOFR plus margin range	1.75%
Eighth amendment to revolving credit facility | Revolving credit facility | Maximum
Debt Instrument [Line Items]
SOFR plus margin range	2.75%
Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Outstanding under revolving credit facility							$ 290,000,000
Interest rate on line of credit facility							8.21%
Weighted average interest rate during the period							8.19%
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							$ 6,900,000		$ 6,700,000
Term loan, due in 2024
Debt Instrument [Line Items]
Debt face value										$ 300,000,000
Weighted average interest rate, over the period								7.10%
Loan principal payment	$ 283,000,000
Written off deferred financing costs	$ 400,000
Term loan, due in 2026
Debt Instrument [Line Items]
SOFR plus margin range					2.56%
Debt face value					$ 765,000,000
Annual principal payments					7,600,000
Weighted average interest rate, over the period							8%	7.66%
Debt issuance costs					$ 23,000,000
Variable interest rate							8.02%		8.03%
Minimum SOFR rate		0.75%
Sixth Amendment Facility
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%
Term loan, due in 2028 | Term loans
Debt Instrument [Line Items]
Weighted average interest rate, over the period							8.44%	7.85%
Debt stated rate							8.46%		8.47%
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%
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%
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%
Debt redemption price			100%

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other liabilities
Employee compensation and benefits	$ 31,775	$ 29,249
Deferred FCC repack income	39,798	41,863
Programming liability	227,966	274,564
Liability for pension benefits	72,519	73,651
Liabilities for uncertain tax positions	17,097	16,334
Finance leases	30,800	30,146
Other	17,660	18,374
Other liabilities (less current portion)	$ 437,615	$ 484,181

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Other Changes in Certain Working Capital Accounts, Net
Accounts receivable	$ 31,931	$ 1,064
Other current assets	(19,208)	(15,213)
Accounts payable	2,608	(6,490)
Accrued employee compensation and benefits	(24,157)	(624)
Accrued interest	(665)	(149)
Other accrued liabilities	8,855	(12,649)
Unearned revenue	2,722	(3,911)
Other, net	(5,481)	(3,437)
Total	$ (3,395)	$ (41,409)

Employee Benefit Plans - Compon

Employee Benefit Plans - Components of Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 3,261	$ 4,032	$ 8,587	$ 8,327
Defined benefit plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	5,603	5,935	11,205	11,870
Expected return on plan assets, net of expenses	(6,018)	(6,307)	(12,036)	(12,613)
Amortization of actuarial loss and prior service cost	4	4	9	9
Total for defined benefit pension plan	(411)	(368)	(822)	(734)
SERPs
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	234	234	468	466
Defined contribution plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 3,438	$ 4,166	$ 8,941	$ 8,595

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - SERPs $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions to benefit plan	$ 0.6
Estimated future contributions	$ 0.8

Segment Information - Narrative

Segment Information - Narrative (Details) - Local Media	Jun. 30, 2024 affiliate station lowPowerStation
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			6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Information regarding business segments
Total operating revenues	$ 573,629		$ 582,836	$ 1,135,093	$ 1,110,614
Restructuring costs	(973)		(7,992)	(5,988)	(24,503)
Depreciation and amortization of intangible assets	(38,468)		(38,628)	(77,156)	(77,171)
Impairment of goodwill	0	$ (266,000)	(686,000)	0	(686,000)
Gains (losses), net on disposal of property and equipment	157		(358)	10	(1,254)
Interest expense	(52,123)		(52,275)	(107,040)	(101,113)
Defined benefit pension plan income	177		134	354	268
Miscellaneous, net	(419)		(675)	16,402	(1,178)
Income (loss) from operations before income taxes	3,341		(674,044)	8,810	(706,769)
Depreciation:
Total depreciation	15,150		15,137	30,270	30,190
Amortization of intangible assets:
Total amortization of intangible assets	23,318		23,491	46,886	46,981
Additions to property and equipment:
Total additions to property and equipment	23,149		16,814	41,046	25,110
Intersegment eliminations
Information regarding business segments
Total operating revenues	(4,763)		(4,385)	(9,526)	(8,759)
Shared services and corporate
Information regarding business segments
Segment profit (loss):	(21,651)		(23,331)	(43,226)	(46,736)
Depreciation:
Total depreciation	208		375	410	794
Amortization of intangible assets:
Total amortization of intangible assets	1,181		1,052	2,376	2,104
Additions to property and equipment:
Total additions to property and equipment	459		139	461	974
Local Media | Operating segments
Information regarding business segments
Total operating revenues	364,926		352,219	717,762	664,142
Segment profit (loss):	88,130		81,017	153,686	126,860
Depreciation:
Total depreciation	10,153		9,787	20,186	19,640
Amortization of intangible assets:
Total amortization of intangible assets	8,716		8,981	17,661	17,961
Additions to property and equipment:
Total additions to property and equipment	17,943		14,140	33,404	21,407
Scripps Networks | Operating segments
Information regarding business segments
Total operating revenues	208,720		231,229	417,998	447,702
Segment profit (loss):	37,747		60,343	87,401	111,869
Depreciation:
Total depreciation	4,719		4,930	9,544	9,666
Amortization of intangible assets:
Total amortization of intangible assets	12,976		13,009	25,953	26,018
Additions to property and equipment:
Total additions to property and equipment	4,138		2,501	6,454	2,695
Other | Operating segments
Information regarding business segments
Total operating revenues	4,746		3,773	8,859	7,529
Segment profit (loss):	(9,236)		(6,279)	(15,633)	(7,811)
Depreciation:
Total depreciation	70		45	130	90
Amortization of intangible assets:
Total amortization of intangible assets	445		449	896	898
Additions to property and equipment:
Total additions to property and equipment	$ 609		$ 34	$ 727	$ 34

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue Generating Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 573,629	$ 582,836	$ 1,135,093	$ 1,110,614
Operating segments | Other
Disaggregation of Revenue [Line Items]
Total operating revenues	4,746	3,773	8,859	7,529
Core advertising
Disaggregation of Revenue [Line Items]
Total operating revenues	336,502	367,257	670,292	715,831
Political
Disaggregation of Revenue [Line Items]
Total operating revenues	29,479	3,846	45,447	7,371
Distribution
Disaggregation of Revenue [Line Items]
Total operating revenues	199,599	200,902	402,159	367,461
Other
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 8,049	$ 10,831	$ 17,195	$ 19,951

Capital Stock (Details)

Capital Stock (Details) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 07, 2021 $ / shares shares	Jun. 30, 2024 USD ($) director classOfCommonShare	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) director classOfCommonShare	Jun. 30, 2023 USD ($)
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		$ 0	$ 12,000	$ 0	$ 24,000
Undeclared cumulative dividends		27,300		27,300
Redemption value of preferred stock		$ 660,000		$ 660,000
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 dividends					$ 24,000
Preferred stock dividend rate if dividends not paid in cash	9%
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	$ 1,161,962	$ 2,099,808	$ 1,156,183	$ 2,130,825
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	34	25	68	50
Net current-period other comprehensive income (loss)	34	25	68	50
Equity, ending balance	1,168,185	1,428,189	1,168,185	1,428,189
Defined Benefit Pension Items
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(75,218)	(77,302)	(75,247)	(77,327)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	29	25	58	50
Net current-period other comprehensive income (loss)	29	25	58	50
Equity, ending balance	(75,189)	(77,277)	(75,189)	(77,277)
Tax on amount reclassified from AOCI	11	8	22	16
Other
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(258)	(144)	(263)	(144)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	5	0	10	0
Net current-period other comprehensive income (loss)	5	0	10	0
Equity, ending balance	(253)	(144)	(253)	(144)
AOCI Attributable to Parent
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(75,476)	(77,446)	(75,510)	(77,471)
Equity, ending balance	$ (75,442)	$ (77,421)	$ (75,442)	$ (77,421)