Political advertising revenue - presidential/midterm cycles can add $200-400M in incremental revenue with 70%+ flow-through to EBITDA
Retransmission fee negotiations and renewals - multi-year contracts covering 20-30% of subscriber base typically renew annually with 5-10% rate increases offsetting subscriber losses
Cord-cutting acceleration - each 1% decline in MVPD subscribers reduces retrans revenue by $8-12M annually
Local advertising trends - automotive (20% of local ad revenue) and services spending sensitive to regional economic conditions
high - Local advertising spending (automotive dealers, furniture, restaurants, legal services) correlates directly with regional GDP growth and employment. National advertising from CPG and pharma follows consumer spending patterns. Retrans revenue is more stable but faces secular pressure. In recessions, advertising budgets are first to be cut, causing 15-25% revenue declines in core advertising. The 2024-2025 political cycle provided unusual insulation, but 2027 will face tougher comparisons.
Rising rates negatively impact Scripps through two channels: (1) higher refinancing costs on $1.8-2.0B debt stack, with significant maturities requiring attention in 2027-2028, potentially adding $20-40M in annual interest expense if rates remain elevated, and (2) multiple compression as investors rotate from low-growth, high-leverage media stocks to bonds offering attractive yields. Automotive advertising, a key revenue source, also weakens as higher rates reduce vehicle financing affordability.
Secular cord-cutting accelerating beyond 8-10% annual MVPD subscriber losses, with younger demographics abandoning linear TV entirely - retrans revenue at risk if losses accelerate to 12-15% annually
Streaming fragmentation reducing broadcast TV relevance as Netflix, YouTube, and social media capture attention - local news remains defensible but entertainment programming viewership declining 10%+ annually
FCC regulatory changes to retransmission consent rules or must-carry provisions could eliminate negotiating leverage with distributors
value - The 0.2x P/S, 0.2x P/B, and 74% FCF yield attract deep-value investors betting on political cycle monetization and potential private equity takeout. However, structural headwinds and leverage deter growth investors. Suitable for contrarian investors with 2-3 year horizon capturing 2026 midterm political revenue spike, but requires tolerance for secular decline narrative.
Trend
-19.6% vs SMA 50 · -4.2% vs SMA 200
Momentum
Heavy distribution on elevated volume — institutions appear to be exiting. Squeeze setups unlikely while selling pressure persists.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2023 | $2.3B $2.3B–$2.4B | — | -$3.66 | — | ±2% | Low2 |
FY2024 | $2.5B $2.5B–$2.6B | ▲ +8.1% | $1.12 | — | ±2% | Moderate3 |
FY2025 | $2.1B $2.1B–$2.2B | ▼ -14.5% | -$1.54 | — | ±2% | Moderate3 |
INSTITUTIONAL OWNERSHIP
SSP News
About
the e.w. scripps company serves audiences and businesses through a growing portfolio of television, radio and digital media brands. scripps is one of the nation’s largest independent tv station owners, with 33 television stations in 24 markets and a reach of nearly one in five u.s. households. it also owns 34 radio stations in eight markets. scripps also runs an expanding collection of local and national digital journalism and information businesses, including podcast industry leader midroll media, over-the-top video news service newsy and weather app developer weathersphere. scripps also produces television shows including the list and the now, runs an award-winning investigative reporting newsroom in washington, d.c., and serves as the long-time steward of the nation’s largest, most successful and longest-running educational program, the scripps national spelling bee. founded in 1878, scripps has held for decades to the motto, “give light and the people will find their own way.”
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
SSP◀ | $3.38 | -4.25% | $399M | — | -1431.2% | -469.1% | 1500 |
| $396.78 | -1.07% | $4.8T | 30.0 | +1512.6% | 3280.0% | 1523 | |
| $393.32 | -0.97% | $4.8T | 30.0 | +1512.6% | 3280.0% | 1522 | |
| $614.23 | -0.68% | $1.6T | 22.1 | +2216.7% | 3008.4% | 1501 | |
| $87.02 | +0.09% | $366.4B | 27.5 | +1585.1% | 2430.4% | 1479 | |
| $185.22 | -1.58% | $200.4B | 19.3 | +848.8% | 1244.7% | 1485 | |
| $46.37 | -1.47% | $193.6B | 11.2 | +252.5% | 1242.8% | 1505 | |
| Sector avg | — | -1.42% | — | 23.3 | +928.2% | 2002.4% | 1502 |