Scripps Cuts 431 Jobs, Lifts 2026 Political Revenue Outlook
SSP sits 17% above its 52-week low of $1.92.
Summary
Scripps is eliminating 431 positions and raising its 2026 political advertising revenue outlook. The cut is larger than the 268 positions the company eliminated in early August, when it also posted a $1.15B quarterly loss driven by a $1.14B non-cash goodwill impairment and reported cash of just $13M. Cost cuts of this size matter for a company this small and this leveraged — every dollar of expense removed goes straight at a balance sheet that has almost no cushion. The political revenue raise is the offsetting positive: 2026 is a midterm election year, and local broadcasters capture a disproportionate share of campaign spending.
At the time of this announcement, SSP was trading at $2.25 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $186.3M. The 52-week trading range was $1.92 to $5.39. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Seeking Alpha.