Business Context and Reporting Period
This Form 8-K filing by The E.W. Scripps Company (Scripps) reports a material event occurring on July 7, 2025. The filing details the entry into a material definitive agreement with Gray Media, Inc. (Gray) to swap television stations across five markets.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The transaction is structured as an asset swap with no cash consideration exchanged between the parties.
Material Changes and Transaction Details
Scripps and Gray have agreed to an even exchange of comparable assets. The specific station movements are as follows:
- Scripps Acquires:
- KKTV (CBS) in Colorado Springs, Colorado
- KKCO (NBC) and KJCT-LP (ABC) in Grand Junction, Colorado
- KMVT (CBS) and KSVT-LD (Fox) in Twin Falls, Idaho
- Gray Acquires:
- WSYM (Fox) in Lansing, Michigan
- KATC (ABC) in Lafayette, Louisiana
The transaction is pending regulatory and other approvals and is expected to close in the fourth quarter of 2025.
Outlook, Risks, and Management Commentary
Management indicates the transaction is an even exchange of comparable assets. The primary contingency noted is the requirement for regulatory and other approvals prior to closing. No specific financial guidance or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the status of regulatory approvals required for the station swap.
- Confirm the expected closing date remains in the fourth quarter of 2025.
- Review the attached press release (Exhibit 99.1) for additional strategic rationale.
- Monitor future filings for the final accounting treatment of the asset exchange.