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Scripps records $1.1B impairment as Q2 revenue drops 9.2%

E. W. Scripps Company logoE. W. Scripps Company
Sig4.25Sen-5.85Env0.00Soc0.00Gov0.00

Scripps reported second-quarter revenue of $490 million, down $49.7 million year over year, and took a $1.1 billion impairment against its national networks business, contributing to a $1.2 billion loss attributable to shareholders. The quarter also included $35.8 million in restructuring costs. Local Media revenue fell 5.4% with core advertising down 8.7%, while political advertising rose sharply to a record level.

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