Ohio | 0-16914 | 31-1223339 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
312 Walnut Street Cincinnati, Ohio | 45202 | |||
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Class A Common Stock, par value $0.01 per share | SSP | NASDAQ Global Select Market |
Item No. | Page | |
8.01 | Other Events | 3 |
9.01 | Financial Statements and Exhibits | 3 |
Exhibit Number | Description of Item | |
Local Media segment financial information on an adjusted combined basis for the first quarter 2019 and the quarterly periods of 2018 |
THE E.W. SCRIPPS COMPANY | ||
BY: | /s/ Douglas F. Lyons | |
Douglas F. Lyons | ||
Senior Vice President, Controller and Treasurer | ||
(Principal Accounting Officer) |
2019 | 2018 | |||||||||||||||||||||||
(in thousands) | Q1 | Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||
Segment operating revenues: | ||||||||||||||||||||||||
Core advertising | $ | 136,662 | $ | 143,022 | $ | 148,188 | $ | 133,521 | $ | 141,914 | $ | 566,645 | ||||||||||||
Political | 1,112 | 3,137 | 21,678 | 54,733 | 109,704 | 189,252 | ||||||||||||||||||
Retransmission | 96,046 | 83,372 | 86,748 | 91,446 | 90,929 | 352,495 | ||||||||||||||||||
Other revenue | 4,214 | 3,186 | 3,504 | 3,517 | 3,047 | 13,254 | ||||||||||||||||||
Total operating revenues | 238,034 | 232,717 | 260,118 | 283,217 | 345,594 | 1,121,646 | ||||||||||||||||||
Segment costs and expenses: | ||||||||||||||||||||||||
Employee compensation and benefits | 87,863 | 88,498 | 85,660 | 86,309 | 90,548 | 351,015 | ||||||||||||||||||
Programming | 68,728 | 61,824 | 61,815 | 65,564 | 64,584 | 253,787 | ||||||||||||||||||
Impairment of programming assets | — | — | — | — | 8,920 | 8,920 | ||||||||||||||||||
Other expenses | 38,178 | 38,950 | 41,670 | 41,414 | 48,815 | 170,849 | ||||||||||||||||||
Total costs and expenses | 194,769 | 189,272 | 189,145 | 193,287 | 212,867 | 784,571 | ||||||||||||||||||
Segment profit | $ | 43,265 | $ | 43,445 | $ | 70,973 | $ | 89,930 | $ | 132,727 | $ | 337,075 |
2019 | 2018 | |||||||||||||||||||||||
(in thousands) | Q1 | Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||
Local Media operating revenues, as reported | $ | 203,387 | $ | 192,059 | $ | 213,248 | $ | 230,734 | $ | 281,439 | $ | 917,480 | ||||||||||||
Waco/Tallahassee TV stations acquisition | — | 6,068 | 6,174 | 6,190 | 6,805 | 25,237 | ||||||||||||||||||
Cordillera TV stations acquisition | 35,480 | 35,166 | 41,283 | 46,884 | 57,942 | 181,275 | ||||||||||||||||||
Other revenue adjustments (1) | (833 | ) | (576 | ) | (587 | ) | (591 | ) | (592 | ) | (2,346 | ) | ||||||||||||
Local Media adjusted combined operating revenues | $ | 238,034 | $ | 232,717 | $ | 260,118 | $ | 283,217 | $ | 345,594 | $ | 1,121,646 |
2019 | 2018 | |||||||||||||||||||||||
(in thousands) | Q1 | Q1 | Q2 | Q3 | Q4 | Total | ||||||||||||||||||
Local Media segment profit, as reported | $ | 34,173 | $ | 31,619 | $ | 53,368 | $ | 67,416 | $ | 98,716 | $ | 251,119 | ||||||||||||
Waco/Tallahassee TV stations acquisition | — | 1,770 | 1,905 | 1,893 | 2,265 | 7,833 | ||||||||||||||||||
Cordillera TV stations acquisition | 7,925 | 8,632 | 14,287 | 19,212 | 30,338 | 72,469 | ||||||||||||||||||
Other revenue adjustments (1) | (833 | ) | (576 | ) | (587 | ) | (591 | ) | (592 | ) | (2,346 | ) | ||||||||||||
Acquisition synergies | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 8,000 | ||||||||||||||||||
Local Media adjusted combined segment profit | $ | 43,265 | $ | 43,445 | $ | 70,973 | $ | 89,930 | $ | 132,727 | $ | 337,075 |