Scripps raises full-year political guide, completes 2026 workforce reductions
Key Highlights
- ➤2026 political advertising guide raised to about $275 million, 40% above 2022
- ➤431 workforce reductions completed, bringing 2026 total impacted employees to about 850
- ➤Transformation plan targets $125-$150 million of enterprise EBITDA growth by 2028
- ➤Scripps expects about $100 million in annual run-rate savings by year end
- ➤Company plans to pay down at least $150 million of debt in Q4
CINCINNATI, Oct. 28, 2026 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) has raised its expectations for full-year 2026 midterm Local Media political advertising revenue to about $275 million, which is about 40% above its 2022 midterm election revenue.
On Tuesday, the company also completed 431 workforce reductions, bringing the total employees impacted in 2026 to about 850 – nearly 20% of its employee count from the beginning of the year. The reductions are part of Scripps’ company transformation plan to generate $125-$150 million of enterprise EBITDA growth by 2028. The impact of the transformation work will become most evident beginning in the fourth-quarter results, and the company expects to have implemented about $100 million in annual run-rate savings by year end.
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