0000832428-22-000030 | 10-Q | XBRL Viewer

Cover Page	6 Months Ended
Cover Page	Jun. 30, 2022 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-10701
Entity Registrant Name	THE E.W. SCRIPPS COMPANY
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-1223339
Entity Address, Address Line One	312 Walnut Street
Entity Address, City or Town	Cincinnati,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	977-3000
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	SSP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Amendment Flag	false
Entity Central Index Key	0000832428
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Common stock, Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	71,482,546
Voting common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	11,932,722

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 58,237	$ 66,223
Restricted cash	0	34,257
Accounts receivable (less allowances — $4,869 and $4,256)	580,747	572,525
FCC repack receivable	253	773
Miscellaneous	56,170	28,503
Total current assets	695,407	702,281
Investments	25,677	21,632
Property and equipment	445,654	456,945
Operating lease right-of-use assets	115,543	124,821
Goodwill	2,920,466	2,913,384
Other intangible assets	1,870,194	1,910,311
Programming	443,117	510,316
Miscellaneous	19,612	18,624
Total Assets	6,535,670	6,658,314
Current liabilities:
Accounts payable	84,656	83,931
Unearned revenue	23,767	20,000
Current portion of long-term debt	18,612	18,612
Accrued liabilities:
Employee compensation and benefits	43,364	68,545
Programming liability	164,118	180,269
Accrued interest	32,310	34,973
Miscellaneous	49,529	50,667
Other current liabilities	54,624	54,883
Total current liabilities	470,980	511,880
Long-term debt (less current portion)	3,064,352	3,129,393
Deferred income taxes	371,924	356,777
Operating lease liabilities	104,238	113,892
Other liabilities (less current portion)	504,562	575,938
Equity:
Total preferred and common stock	411,926	410,765
Additional paid-in capital	1,435,867	1,428,460
Retained earnings	244,070	205,118
Accumulated other comprehensive loss, net of income taxes	(72,249)	(73,909)
Total equity	2,019,614	1,970,434
Total Liabilities and Equity	6,535,670	6,658,314
Series A preferred stock
Equity:
Preferred stock	$ 411,092	$ 409,939
Preferred Stock, Par or Stated Value Per Share	$ 100,000	$ 100,000
Preferred Stock, Shares Outstanding	6,000	6,000
Common stock, Class A
Equity:
Common stock	$ 715	$ 707
Voting common stock
Equity:
Common stock	119	119
Preferred Stock
Equity:
Preferred stock	$ 0	$ 0
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Outstanding	0	0

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 4,869	$ 4,256
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Series A preferred stock
Preferred stock, par value (USD per share)	$ 100,000	$ 100,000
Preferred stock, shares outstanding (in shares)	6,000	6,000
Common stock, Class A
Common stock, shares authorized (in shares)	240,000,000	240,000,000
Common stock, shares issued (in shares)	71,482,546	70,646,007
Common stock, shares outstanding (in shares)	71,482,546	70,646,007
Voting common stock
Common stock, shares authorized (in shares)	60,000,000	60,000,000
Common stock, shares issued (in shares)	11,932,722	11,932,722
Common stock, shares outstanding (in shares)	11,932,722	11,932,722
Preferred Stock
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Revenues:
Total operating revenues	$ 594,467	$ 565,077	$ 1,160,173	$ 1,105,998
Operating Expenses:
Cost of revenues, excluding depreciation and amortization	308,510	268,683	606,344	533,078
Selling, general and administrative expenses, excluding depreciation and amortization	154,382	144,113	307,109	288,139
Acquisition and related integration costs	0	6,686	1,642	35,331
Restructuring costs	0	514	0	7,564
Depreciation	15,812	14,245	31,182	28,370
Amortization of intangible assets	25,207	26,506	49,582	51,888
Losses (gains), net on disposal of property and equipment	1,577	75	4,058	155
Total operating expenses	505,488	460,822	999,917	944,525
Operating income	88,979	104,255	160,256	161,473
Interest expense	(36,011)	(42,010)	(72,510)	(85,892)
Gain (loss) on extinguishment of debt	0	(13,775)	1,234	(13,775)
Defined benefit pension plan income	662	7	1,325	14
Gain on sale of Triton business	0	0	0	81,784
Losses on stock warrant	0	(31,874)	0	(99,118)
Miscellaneous, net	2,170	(2,707)	1,763	(7,558)
Income from continuing operations before income taxes	55,800	13,896	92,068	36,928
Provision for income taxes	14,060	12,683	27,963	32,212
Income from continuing operations, net of tax	41,740	1,213	64,105	4,716
Income from discontinued operations, net of tax	0	4,431	0	6,495
Net income	41,740	5,644	64,105	11,211
Preferred stock dividends	(12,577)	(12,576)	(25,153)	(24,219)
Net income (loss) attributable to the shareholders of The E.W. Scripps Company	$ 29,163	$ (6,932)	$ 38,952	$ (13,008)
Net income (loss) per basic share of common stock attributable to the shareholders of The E.W. Scripps Company:
Income (loss) from continuing operations (in dollars per share)	$ 0.34	$ (0.14)	$ 0.46	$ (0.24)
Income from discontinued operations (in dollars per share)	0	0.05	0	0.08
Net income (loss) per basic share of common stock (in dollars per share)	0.34	(0.09)	0.46	(0.16)
Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company:
Income (loss) from continuing operations (in dollars per share)	0.32	(0.14)	0.42	(0.24)
Income from discontinued operations (in dollars per share)	0	0.05	0	0.08
Net income (loss) per diluted share of common stock attributable to the shareholders of The E.W. Scripps Company (in dollars per share)	$ 0.32	$ (0.09)	$ 0.42	$ (0.16)
Advertising
Operating Revenues:
Total operating revenues	$ 414,147	$ 396,652	$ 812,628	$ 759,266
Retransmission and carriage
Operating Revenues:
Total operating revenues	170,304	156,421	326,124	312,918
Other
Operating Revenues:
Total operating revenues	$ 10,016	$ 12,004	$ 21,421	$ 33,814

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 41,740	$ 5,644	$ 64,105	$ 11,211
Changes in defined benefit pension plans, net of tax of $258, $375, $515 and $749	827	1,186	1,654	2,373
Other	3	20	6	38
Total comprehensive income attributable to preferred and common stockholders	$ 42,570	$ 6,850	$ 65,765	$ 13,622

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Tax on changes in defined benefit plans	$ 258	$ 375	$ 515	$ 749

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 64,105	$ 11,211
Income from discontinued operations, net of tax	0	6,495
Income from continuing operations, net of tax	64,105	4,716
Adjustments to reconcile net income from continuing operations to net cash flows from operating activities:
Depreciation and amortization	80,764	80,258
Losses (gains), net on disposal of property and equipment	4,058	155
Loss (gain) on extinguishment of debt	(1,234)	13,775
Gain on sale of Triton business	0	(81,784)
Losses on stock warrant	0	99,118
Programming assets and liabilities	(11,724)	(47,490)
Restructuring impairment charges	0	7,050
Deferred income taxes	12,833	7,437
Stock and deferred compensation plans	11,612	18,384
Pension contributions, net of income/expense	(1,860)	(12,597)
Other changes in certain working capital accounts, net	(53,516)	(3,029)
Miscellaneous, net	1,547	6,185
Net cash provided by operating activities from continuing operations	106,585	92,178
Net cash provided by (used in) operating activities from discontinued operations	0	(1,935)
Net operating activities	106,585	90,243
Cash Flows from Investing Activities:
Acquisitions, net of cash acquired	(13,797)	(2,679,798)
Proceeds from sale of Triton Digital, net of cash disposed	0	224,990
Acquisition of intangible assets	0	(430)
Additions to property and equipment	(27,456)	(27,984)
Purchase of investments	(5,281)	(1,431)
Proceeds from FCC repack	1,742	14,190
Miscellaneous, net	(2,451)	44
Net cash used in investing activities from continuing operations	(47,243)	(2,470,419)
Net cash provided by (used in) investing activities from discontinued operations	0	0
Net investing activities	(47,243)	(2,470,419)
Cash Flows from Financing Activities:
Net borrowings under revolving credit facility	60,000	0
Proceeds from issuance of long-term debt	0	800,000
Proceeds from issuance of preferred stock	0	600,000
Payments on long-term debt	(128,850)	(459,306)
Premium paid on debt extinguishment	0	(10,252)
Payments on financing costs	0	(50,597)
Payments for capitalized preferred stock issuance costs	0	(11,526)
Dividends paid on common and preferred stock	(24,000)	(21,067)
Tax payments related to shares withheld for vested stock and RSUs	(8,468)	(6,604)
Miscellaneous, net	(267)	(517)
Net cash provided by (used in) financing activities from continuing operations	(101,585)	840,131
Effect of foreign exchange rates on cash, cash equivalents and restricted cash	0	(20)
Decrease in cash, cash equivalents and restricted cash	(42,243)	(1,540,065)
Cash, cash equivalents and restricted cash:
Beginning of year	100,480	1,626,021
End of period	58,237	85,956
Supplemental Cash Flow Disclosures
Interest paid	68,177	54,928
Income taxes paid	46,949	54,215
Non-cash investing information
Capital expenditures included in accounts payable	$ 1,644	$ 2,067

Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands

Total

Preferred Stock

Common Stock

Additional Paid-in Capital

Retained Earnings (Accumulated Deficit)

Accumulated Other Comprehensive Income (Loss) ("AOCI")

Equity, beginning balance at Dec. 31, 2020

$ 1,163,265

$ 0

$ 817

$ 1,130,789

$ 131,778

$ (100,119)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

13,622

11,211

2,411

Issuance of preferred stock, net of discount and issuance costs

407,634

Preferred stock dividends

(23,067)

1,152

(24,219)

Stock warrant

279,958

Compensation plans: shares issued

^[1]

9,327

9,319

Equity, ending balance at Jun. 30, 2021

1,850,739

408,786

825

1,420,066

118,770

(97,708)

Equity, beginning balance at Mar. 31, 2021

1,569,187

408,210

823

1,133,366

125,702

(98,914)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

6,850

5,644

1,206

Preferred stock dividends

(12,000)

576

(12,576)

Stock warrant

279,958

Compensation plans: shares issued

^[2]

6,744

6,742

Equity, ending balance at Jun. 30, 2021

1,850,739

408,786

825

1,420,066

118,770

(97,708)

Equity, beginning balance at Dec. 31, 2021

1,970,434

409,939

826

1,428,460

205,118

(73,909)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

65,765

64,105

1,660

Preferred stock dividends

(24,000)

1,153

(25,153)

Compensation plans: shares issued

^[3]

7,415

7,407

Equity, ending balance at Jun. 30, 2022

2,019,614

411,092

834

1,435,867

244,070

(72,249)

Equity, beginning balance at Mar. 31, 2022

1,984,029

410,515

833

1,430,853

214,907

(73,079)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

42,570

41,740

830

Preferred stock dividends

(12,000)

577

(12,577)

Compensation plans: shares issued

^[4]

5,015

5,014

Equity, ending balance at Jun. 30, 2022

$ 2,019,614

$ 411,092

$ 834

$ 1,435,867

$ 244,070

$ (72,249)

[1]	Net of tax payments related to shares withheld for vested RSUs of $6,604 for the six months ended June 30, 2021.
[2]	Net of tax payments related to shares withheld for vested RSUs of $235 for the three months ended June 30, 2021.
[3]	Net of tax payments related to shares withheld for vested RSUs of $8,468 for the six months ended June 30, 2022.
[4]	Net of tax payments related to shares withheld for vested RSUs of $127 for the three months ended June 30, 2022.

- Definition

+ References + Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

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+ Details

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Preferred stock dividends (in dollars per share)	$ 2,000	$ 2,000,000	$ 4,000	$ 3,511,000
Net shares issued (in shares)	124,736	185,395	836,539	739,674
Tax payments related to shares withheld for vested stock and RSUs		$ 235	$ 8,468	$ 6,604

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

As used in the Notes to Condensed Consolidated Financial Statements, the terms “Scripps,” “Company,” “we,” “our,” or “us” may, depending on the context, refer to The E.W. Scripps Company, to one or more of its consolidated subsidiary companies, or to all of them taken as a whole.

Basis of Presentation — The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The interim financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto included in our 2021 Annual Report on Form 10-K. In management's opinion, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the interim periods have been made.

Results of operations are not necessarily indicative of the results that may be expected for future interim periods or for the full year.

Principles of Consolidation — The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities (VIEs) for which we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. Noncontrolling interest represents an owner’s share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation.

Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees.

Nature of Operations — We are a diverse media enterprise, serving audiences and businesses through a portfolio of local television stations and national media brands. All of our businesses provide content and services via digital platforms, including the Internet, smartphones and tablets. Our media businesses are organized into the following reportable business segments: Local Media, Scripps Networks and Other. Additional information for our business segments is presented in Note 13. Segment Information.

Use of Estimates — Preparing financial statements in accordance with accounting principles generally accepted in the United States of America requires us to make a variety of decisions that affect the reported amounts and the related disclosures. Such decisions include the selection of accounting principles that reflect the economic substance of the underlying transactions and the assumptions on which to base accounting estimates. In reaching such decisions, we apply judgment based on our understanding and analysis of the relevant circumstances, including our historical experience, actuarial studies and other assumptions.

Our financial statements include estimates and assumptions used in accounting for our defined benefit pension plans; the periods over which long-lived assets are depreciated or amortized; the fair value of long-lived assets, goodwill and indefinite lived assets; the liability for uncertain tax positions and valuation allowances against deferred income tax assets; the fair value of assets acquired and liabilities assumed in business combinations; and self-insured risks.

While we re-evaluate our estimates and assumptions on an ongoing basis, actual results could differ from those estimated at the time of preparation of the financial statements.

Nature of Products and Services — The following is a description of principal activities from which we generate revenue.

Core Advertising — Core advertising is comprised of sales to local and national customers. The advertising includes a combination of broadcast airtime, as well as digital advertising. Pricing of advertising time is based on audience size and share, the demographic of our audiences and the demand for our limited inventory of commercial time. Advertising time is sold through a combination of local and national sales staff and national sales representative firms. Digital revenues are primarily

generated from the sale of advertising to local and national customers on our local television websites, smartphone apps, tablet apps and other platforms.

Political Advertising — Political advertising is generally sold through our Washington D.C. sales office. Advertising is sold to presidential, gubernatorial, Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) or other advocacy groups.

Retransmission Revenues — We earn revenue from retransmission consent agreements with multi-channel video programming distributors (“MVPDs”) in our markets. The MVPDs are cable operators and satellite carriers who pay us to offer our programming to their customers. We also receive fees from over-the-top virtual MVPDs. The fees we receive are typically based on the number of subscribers in our local market and the contracted rate per subscriber.

Other Products and Services — We derive revenue from sponsorships and community events through our Local Media segment. Our Scripps Networks segment offers subscription services for access to premium content to its customers.

Refer to Note 13. Segment Information for further information, including revenue by significant product and service offering.

Revenue Recognition — Revenue is measured based on the consideration we expect to be entitled to in exchange for promised goods or services provided to customers, and excludes any amounts collected on behalf of third parties. Revenue is recognized upon transfer of control of promised products or services to customers.

Advertising — Advertising revenue is recognized, net of agency commissions, over time primarily as ads are aired or impressions are delivered and any contracted audience guarantees are met. We apply the practical expedient to recognize revenue at the amount we have the right to invoice, which corresponds directly to the value a customer has received relative to our performance. For advertising sold based on audience guarantees, audience deficiency may result in an obligation to deliver additional advertisements to the customer. To the extent that we do not satisfy contracted audience ratings, we record deferred revenue until such time that the audience guarantee has been satisfied.

Retransmission — Retransmission revenues are considered licenses of functional intellectual property and are recognized at the point in time the content is transferred to the customer. MVPDs report their subscriber numbers to us generally on a 30- to 90-day lag. Prior to receiving the MVPD reporting, we record revenue based on estimates of the number of subscribers, utilizing historical levels and trends of subscribers for each MVPD.

Contract Balances — Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or unearned revenue when revenue is recognized subsequent to invoicing.

Payment terms may vary by contract type, although our terms generally include a requirement of payment within 30 to 90 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers.

The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We estimate the allowance based on expected credit losses, including our historical experience of actual losses and known troubled accounts. The allowance for doubtful accounts totaled $4.9 million at June 30, 2022 and $4.3 million at December 31, 2021.

We record unearned revenue when cash payments are received in advance of our performance. We generally require amounts payable under advertising contracts with political advertising customers to be paid in advance. Unearned revenue totaled $23.8 million at June 30, 2022 and is expected to be recognized within revenue over the next 12 months. Unearned revenue totaled $20.0 million at December 31, 2021. We recorded $9.2 million of revenue in the six months ended June 30, 2022 that was included in unearned revenue at December 31, 2021.

Leases — We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in our Condensed Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable for most of our leases, we use our incremental borrowing rate when determining the present value of lease payments. The incremental

borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease. The operating lease ROU asset also includes any payments made at or before commencement and is reduced by any lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

Share-Based Compensation — We have a Long-Term Incentive Plan (the “Plan”) which is described more fully in our 2021 Annual Report on Form 10-K. The Plan provides for the award of incentive and nonqualified stock options, stock appreciation rights, restricted stock units (RSUs) and unrestricted Class A Common shares and performance units to key employees and non-employee directors.

Share-based compensation costs totaled $4.6 million and $6.4 million for the second quarter of 2022 and 2021, respectively. Year-to-date share-based compensation costs totaled $13.9 million and $14.7 million in 2022 and 2021, respectively.

Earnings Per Share (“EPS”) — Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our RSUs, are considered participating securities for purposes of calculating EPS. Under the two-class method, we allocate a portion of net income to these participating securities and, therefore, exclude that income from the calculation of EPS for common stock. We do not allocate losses to the participating securities.

The following table presents information about basic and diluted weighted-average shares outstanding:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Numerator (for basic and diluted earnings per share)
Income from continuing operations, net of tax	$	41,740	$	1,213	$	64,105	$	4,716

Less income allocated to RSUs	(872)		—		(1,105)		—
Less preferred stock dividends	(12,577)		(12,576)		(25,153)		(24,219)
Numerator for basic and diluted earnings per share	$	28,291	$	(11,363)	$	37,847	$	(19,503)
Denominator
Basic weighted-average shares outstanding	83,270		82,381		83,030		82,143
Effect of dilutive securities:
Restricted stock units	235		—		424		—
Common stock warrant	4,315		—		6,594		—
Diluted weighted-average shares outstanding	87,820		82,381		90,048		82,143

For the three and six month periods ended June 30, 2021, we incurred a net loss and the inclusion of RSUs would have been anti-dilutive. The June 30, 2021 diluted EPS calculation excludes the effect from 2.5 million of outstanding RSUs that were anti-dilutive. On May 14, 2021, we amended our common stock warrant agreement with Berkshire Hathaway. Prior to the May 14, 2021 amendment of the common stock warrant agreement, the basic and dilutive EPS calculations excluded the impact of the common stock warrant as the effect would have been anti-dilutive. Following the amendment date, the EPS calculations include the dilutive impact of the common stock warrant. As of June 30, 2022, we had 1.8 million of outstanding RSUs that were anti-dilutive.

Recently Adopted and Issued Accounting Standards	6 Months Ended
Recently Adopted and Issued Accounting Standards	Jun. 30, 2022
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards Recently Adopted Accounting Standards — In October 2021, the Financial Accounting Standards Board ("FASB") issued new guidance requiring entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with the revenue from contracts with customers accounting standard. The guidance will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The guidance is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted the new guidance effective January 1, 2022. The adoption of the guidance did not have an impact on our condensed consolidated financial statements. In May 2021, the FASB issued new guidance that clarifies an issuer's accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. Specifically, the guidance provides a "principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense." The guidance is effective for all entities with fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We adopted the new guidance effective January 1, 2022. The adoption of the guidance did not have an impact on our condensed consolidated financial statements. Recently Issued Accounting Standards — In November 2021, the FASB issued new guidance for entities to provide certain disclosures for material government assistance transactions that are accounted for by applying a grant or contribution accounting model by analogy. The guidance is effective for our 2022 annual reporting period and we do not expect adoption of the guidance to have a material impact on our annual consolidated financial statements and related disclosures. In March 2020, the FASB issued new guidance that provides optional expedients and exceptions to certain accounting requirements to facilitate the transition away from the use of the London Interbank Offered Rate (LIBOR) and other interbank offered rates. The guidance is effective as of March 12, 2020 and will apply through December 31, 2022 to all entities, subject to meeting certain criteria, that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We will evaluate transactions or contract modifications occurring as a result of reference rate reform to determine whether to apply the optional guidance on an ongoing basis.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

+ Details

Acquisitions

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Nuvyyo Acquisition

On January 5, 2022, we acquired Nuvyyo for net cash consideration totaling $13.8 million. Nuvyyo provides consumers DVR product solutions to watch and record free over-the-air HDTV on connected devices. The preliminary purchase price allocation assigned $7.2 million to intangible assets with useful lives ranging from three to five years, $7.1 million to goodwill and the remainder was allocated to various working capital and deferred tax liability accounts. The estimated goodwill, which is not tax deductible, reflects the synergies and increased market penetration expected from combining the operations of Nuvyyo with Scripps. We allocated the goodwill to our Other segment.

ION Acquisition

On January 7, 2021, we completed the acquisition of national broadcast network ION Media Networks, Inc. ("ION") for $2.65 billion. ION is a national network of broadcast stations and is the largest holder of U.S. broadcast television spectrum. The business distributes its programming through owned Federal Communications Commission-licensed television stations as well as affiliated TV stations, reaching 100 million of U.S. homes through its over-the-air broadcast and pay TV platforms. The acquisition of ION enabled us to create a full-scale national television networks business by combining the ION network with our other news and entertainment networks.

The transaction was financed with a combination of cash, debt financing and preferred equity financing, including Berkshire Hathaway's $600 million preferred equity investment in Scripps. Berkshire Hathaway also received a warrant to purchase up to 23.1 million Class A shares, at an exercise price of $13 per share.

To comply with ownership rules of the Federal Communications Commission, we simultaneously divested 23 of ION's television stations for a total consideration of $30 million, which were purchased by INYO Broadcast Holdings, LLC upon completion of the acquisition. These divested stations became independent affiliates of ION pursuant to long-term affiliation agreements.

The following table summarizes the net cash consideration for the ION transaction.


(in thousands)

Total purchase price	$	2,650,000
Plus: Cash acquired	14,493
Plus: Working capital	57,755
Total transaction gross cash consideration	2,722,248
Less: Proceeds from ION stations divested	(30,000)
Total transaction net cash consideration	2,692,248
Less: Cash acquired	(14,493)
Total consideration, net of cash acquired	$	2,677,755

The following table summarizes the final fair values of the ION assets acquired and liabilities assumed at the closing date.


(in thousands)

Accounts receivable	$	135,006
Other current assets	25,353
Programming rights	169,027
Property and equipment	122,520
Operating lease right-of-use assets	72,717
Other assets	2,295
Goodwill	1,796,148
Indefinite-lived intangible assets - FCC licenses	424,200
Amortizable intangible assets:
INYO affiliation agreement	422,000
Other affiliation relationships	22,000
Advertiser relationships	143,000
Trade names	72,000
Accounts payable	(9,674)
Unearned revenue	(13,043)
Accrued expenses	(15,814)
Current portion of programming liabilities	(92,721)
Other current liabilities	(24,810)
Programming liabilities	(191,837)
Deferred tax liabilities	(265,291)
Operating lease liabilities	(78,438)
Other long-term liabilities	(36,883)
Total consideration, net of cash acquired	$	2,677,755

Of the value allocated to amortizable intangible assets, the INYO affiliation agreement has an estimated amortization period of 20 years, advertiser relationships have an estimated amortization period of 7 years, other affiliation relationships have an estimated amortization period of 10 years and the value allocated to trade names has an estimated amortization period of 10 years.

The goodwill of $1.8 billion arising from the transactions consists largely of synergies, economies of scale and other benefits of a larger national broadcast footprint and becoming the largest holder of broadcast spectrum. We allocated the goodwill to our Scripps Networks segment. The transaction is accounted for as a stock acquisition which applies carryover tax basis to the assets and liabilities acquired. The goodwill is not deductible for income tax purposes.

Pro forma results of operations

Pro forma results of operations, assuming the ION acquisition had taken place at the beginning of 2020, are presented in the following table. The pro forma results do not include Nuvyyo, as the impact of this acquisition, individually or in the aggregate, is not material to prior year results of operations. The pro forma information includes the historical results of operations of Scripps and ION (excluding the results of the divested stations sold to INYO), as well as adjustments for additional depreciation and amortization of the assets acquired, additional interest expense related to the financing of the transactions and other transactional adjustments. The pro forma results do not include efficiencies, cost reductions or synergies expected to result from the acquisition, or retrospective fair value adjustments to the warrant. The unaudited pro forma financial information is not necessarily indicative of the results that actually would have occurred had the acquisition been completed at the beginning of the period.


(in thousands, except per share data) (unaudited)	Six Months Ended June 30, 2021

Operating revenues	$	1,112,720
Net income attributable to Scripps shareholders	19,911
Net income per share:
Basic	$	0.24
Diluted	0.23

The pro forma results in 2021 reflect a $32.8 million reversal of ION transaction costs incurred that were already captured in the 2020 pro forma results.

Asset Write-Downs and Other Charges and Credits	6 Months Ended
Asset Write-Downs and Other Charges and Credits	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Asset Write-Downs and Other Charges and Credits	Asset Write-Downs and Other Charges and Credits Income from continuing operations before income taxes was affected by the following: 2022 - Acquisition and related integration costs of $1.6 million in the first six months of 2022 primarily reflect professional service costs associated with the ION acquisition. During the first quarter of 2022, we redeemed $42.2 million of the 2027 Senior Notes, $26.6 million of the 2029 Senior Notes and $54.5 million of the 2031 Senior Notes. The redemptions resulted in a gain on extinguishment of debt of $1.2 million as the notes were redeemed for total consideration below par value of the notes. 2021 - Acquisition and related integration costs of $35.3 million in the first six months of 2021 primarily reflect investment banking, legal and professional service costs incurred to complete and integrate the ION Media Networks, Inc. acquisition, which closed on January 7, 2021. Restructuring costs totaled $7.6 million in the first six months of 2021. In connection with the Newsy restructuring plan, we incurred charges in the first quarter of 2021 totaling $7.1 million for the write-downs of both capitalized carriage agreement payments and certain Newsy intangible assets. The additional restructuring charges in the second quarter were primarily attributed to employee severance and relocation costs. We redeemed the outstanding principal amount of our 2025 Senior Notes during the second quarter of 2021. The redemption resulted in a loss on extinguishment of debt of $13.8 million, representing the premium paid to retire the notes and write-off of unamortized debt financing costs. During the first quarter of 2021, we completed the sale of our Triton business. The sale generated total net proceeds of $225 million and we recognized a pre-tax gain from disposition totaling $81.8 million. Related to our outstanding common stock warrant, we recognized non-cash charges totaling $31.9 million in the second quarter of 2021 and $99.1 million for the year-to-date period in 2021. The warrant obligation was being marked-to-market each reporting period with the increase in our common stock price being the significant contributor to the higher valuation. Following an amendment to the common stock warrant agreement on May 14, 2021, the fair value of the warrant was reclassified to equity and no longer marked-to-market each reporting period.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We file a consolidated federal income tax return, consolidated unitary tax returns in certain states and other separate state income tax returns for our subsidiary companies. The income tax provision for interim periods is generally determined based upon the expected effective income tax rate for the full year and the tax rate applicable to certain discrete transactions in the interim period. To determine the annual effective income tax rate, we must estimate both the total income (loss) before income tax for the full year and the jurisdictions in which that income (loss) is subject to tax. The actual effective income tax rate for the full year may differ from these estimates if income (loss) before income tax is greater than or less than what was estimated or if the allocation of income (loss) to jurisdictions in which it is taxed is different from the estimated allocations. We review and adjust our estimated effective income tax rate for the full year each quarter based upon our most recent estimates of income (loss) before income tax for the full year and the jurisdictions in which we expect that income will be taxed. The effective income tax rate for the six months ended June 30, 2022 and 2021 was 30% and 87%, respectively. Differences between our effective income tax rate and the U.S. federal statutory rate are the impact of state taxes, foreign taxes, non-deductible expenses, changes in reserves for uncertain tax positions, excess tax benefits or expense from the exercise and vesting of share-based compensation awards ($1.0 million benefit in 2022 and $1.7 million benefit in 2021), state deferred rate changes ($4.3 million expense in 2022) and state NOL valuation allowance changes ($1.2 million benefit in 2021). Additionally, in the first quarter of 2021, the income tax provision was impacted by a net discrete tax provision charge of $17.1 million related to a taxable gain on the sale of the Triton business and a $1.0 million discrete tax provision charge related to nondeductible transaction costs for the ION acquisition. Finally, a non-deductible expense of $102.6 million recorded in 2021 related to issuance costs and unrealized losses on mark-to-market adjustments recorded on the common stock warrant issued in connection with the ION acquisition. We recognize state NOL carryforwards as deferred tax assets, subject to valuation allowances. At each balance sheet date, we estimate the amount of carryforwards that are not expected to be used prior to expiration of the carryforward period. The tax effect of the carryforwards that are not expected to be used prior to their expiration is included in the valuation allowance.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Restricted Cash	6 Months Ended
Restricted Cash	Jun. 30, 2022
Cash and Cash Equivalents [Abstract]
Restricted Cash	Restricted CashAt December 31, 2021, we had restricted cash of $34.3 million. The balance reflected restricted cash held in escrow from the KMGH Denver television station building sale, which was received in January 2022.

Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

We have operating leases for office space, data centers and certain equipment. Our leases have remaining lease terms of 1 year to 30 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. Operating lease costs recognized in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2022 and 2021 totaled $6.7 million and $6.0 million, including short-term lease costs of $0.3 million and $0.4 million, respectively. Year-to-date June 30, 2022 and 2021 costs totaled $13.2 million and $11.9 million, including short-term lease costs of $0.7 million and $0.9 million, respectively.

Other information related to our operating leases was as follows:


(in thousands, except lease term and discount rate)	As of June 30, 2022			As of December 31, 2021

Balance Sheet Information
Right-of-use assets	$	115,543		$	124,821
Other current liabilities	19,022			20,066
Operating lease liabilities	104,238			113,892
Weighted Average Remaining Lease Term
Operating leases	8.11 years			8.35 years
Weighted Average Discount Rate
Operating leases	4.15		%	4.16		%


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities	$	6,198	$	5,801	$	12,256	$	10,676
Right-of-use assets obtained in exchange for lease obligations	1,232		977		1,463		6,957

Future minimum lease payments under non-cancellable operating leases as of June 30, 2022 were as follows:


(in thousands)	Operating Leases

Remainder of 2022	$	13,319
2023	24,481
2024	21,555
2025	17,245
2026	15,168
Thereafter	54,503
Total future minimum lease payments	146,271
Less: Imputed interest	(23,011)
Total	$	123,260

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill consisted of the following:


(in thousands)	Local Media		Scripps Networks		Other		Total

Gross balance as of December 31, 2021	$	1,122,408	$	2,028,890	$	—	$	3,151,298
Accumulated impairment losses	(216,914)		(21,000)		—		(237,914)
Net balance as of December 31, 2021	$	905,494	$	2,007,890	$	—	$	2,913,384

Gross balance as of June 30, 2022	$	1,122,408	$	2,028,890	$	7,082	$	3,158,380
Accumulated impairment losses	(216,914)		(21,000)		—		(237,914)
Net balance as of June 30, 2022	$	905,494	$	2,007,890	$	7,082	$	2,920,466

Other intangible assets consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Amortizable intangible assets:
Carrying amount:
Television affiliation relationships	$	1,060,244	$	1,060,244
Customer lists and advertiser relationships	220,997		217,400
Other	136,133		130,265
Total carrying amount	1,417,374		1,407,909
Accumulated amortization:
Television affiliation relationships	(195,057)		(168,021)
Customer lists and advertiser relationships	(92,789)		(77,711)
Other	(40,349)		(32,881)
Total accumulated amortization	(328,195)		(278,613)
Net amortizable intangible assets	1,089,179		1,129,296
Indefinite-lived intangible assets — FCC licenses	781,015		781,015
Total other intangible assets	$	1,870,194	$	1,910,311

Estimated amortization expense of intangible assets for each of the next five years is $48.2 million for the remainder of 2022, $94.0 million in 2023, $92.6 million in 2024, $89.5 million in 2025, $86.0 million in 2026, $83.2 million in 2027 and $595.7 million in later years.

Long-Term Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Revolving credit facility	$	60,000	$	—
Senior secured notes, due in 2029	523,356		550,000

Senior unsecured notes, due in 2027	442,473		484,655
Senior unsecured notes, due in 2031	423,463		477,958
Term loan, due in 2024	285,750		287,250
Term loan, due in 2026	740,243		744,049
Term loan, due in 2028	663,000		667,000

Total outstanding principal	3,138,285		3,210,912
Less: Debt issuance costs and issuance discounts	(55,321)		(62,907)
Less: Current portion	(18,612)		(18,612)
Net carrying value of long-term debt	$	3,064,352	$	3,129,393
Fair value of long-term debt *	$	2,842,365	$	3,249,278

* The fair values of debt are estimated based on either quoted private market transactions or observable estimates provided by third party financial professionals, and as such, are classified within Level 2 of the fair value hierarchy.

Scripps Senior Secured Credit Agreement

On January 7, 2021, we entered into the Sixth Amendment to the Third Amended Restated Credit Agreement ("Sixth Amendment"). Under the Sixth Amendment, we have a $400 million revolving credit facility ("Revolving Credit Facility") that matures on the earlier of January 2026 or 91 days prior to the stated maturity date for any of our existing loans and our existing unsecured notes that mature within the facility's term. Commitment fees of 0.30% to 0.50% per annum, based on our leverage ratio, of the total unused commitment are payable under the Revolving Credit Facility. Interest is payable on the Revolving Credit Facility at rates based on LIBOR, plus a margin based on our leverage ratio, ranging from 1.75% to 2.50%. As of June 30, 2022, we had $60 million outstanding under the Revolving Credit Facility with an interest rate of 4.17%. The weighted-average interest rate over the period during which we had a drawn revolver balance in 2022 was 3.49%. As of June 30, 2022 and December 31, 2021, we had outstanding letters of credit totaling $7.1 million and $6.9 million, respectively, under the Revolving Credit Facility.

On October 2, 2017, we issued a $300 million term loan B which matures in October 2024 ("2024 term loan"). Interest is currently payable on the 2024 term loan at a rate based on LIBOR, plus a fixed margin of 2.00%. Interest will reduce to a rate of LIBOR plus a fixed margin of 1.75% if the Company’s total net leverage, as defined by the amended agreement, is below 2.75. The 2024 term loan requires annual principal payments of $3 million.

As of June 30, 2022 and December 31, 2021, the interest rate on the 2024 term loan was 3.67% and 2.10%, respectively. The weighted-average interest rate was 2.77% and 2.10% for the six months ended June 30, 2022 and 2021, respectively.

On May 1, 2019, we issued a $765 million term loan B ("2026 term loan") that matures in May 2026. Interest is currently payable on the 2026 term loan at a rate based on LIBOR, plus a fixed margin of 2.56%. The 2026 term loan requires annual principal payments of $7.6 million. Deferred financing costs and original issuance discount totaled approximately $23.0 million with this term loan, which are being amortized over the life of the loan.

As of June 30, 2022 and December 31, 2021, the interest rate on the 2026 term loan was 4.23% and 3.31%, respectively. The weighted-average interest rate on the 2026 term loan was 3.43% and 3.31% for the six months ended June 30, 2022 and 2021, respectively.

Under the Sixth Amendment, we also issued an $800 million term loan B ("2028 term loan") that contributed to the financing of the ION acquisition. The term loan matures in 2028 with interest payable at rates based on LIBOR, plus a fixed margin of 3.00%. Additionally, the Sixth Amendment provided that the LIBOR rate could not be less than 0.75% for our term loans that mature in 2026 and 2028. The 2028 term loan requires annual principal payments of $8.0 million. We incurred deferred financing costs totaling $23.4 million related to this term loan and the amendment to the Revolving Credit Facility, which are being amortized over the life of the term loan.

As of June 30, 2022 and December 31, 2021, the interest rate on the 2028 term loan was 4.42% and 3.75%, respectively. The weighted-average interest rate on the 2028 term loan was 3.70% and 3.75% for the six months ended June 30, 2022 and 2021, respectively.

The Senior Secured Credit Agreement contains covenants that limit our ability to incur additional debt and provides for restrictions on certain payments (dividends and share repurchases). Additionally, we must be in compliance with certain leverage ratios in order to proceed with acquisitions. Our credit agreement also includes a provision that in certain circumstances we must use a portion of excess cash flow to repay debt. We granted the lenders pledges of our equity interests in our subsidiaries and security interests in substantially all other personal property including cash, accounts receivables and equipment. In addition, the Revolving Credit Facility contains a covenant to comply with a maximum first lien net leverage ratio of 4.75 to 1.0 when we have outstanding borrowings on the facility. As of June 30, 2022, we were in compliance with our financial covenants.

2029 Senior Secured Notes

On December 30, 2020, we issued $550 million of senior secured notes (the "2029 Senior Notes"), which bear interest at a rate of 3.875% per annum and mature on January 15, 2029. The proceeds of the 2029 Senior Notes were deposited into a segregated escrow account. The escrow account was subsequently released on January 7, 2021 and used toward the financing of the ION acquisition (See Note 3). The 2029 Senior Notes were priced at 100% of par value and interest is payable semi-annually on January 15 and July 15, commencing on July 15, 2021. Prior to January 15, 2024 we may redeem up to 40% of the aggregate principal amount of the 2029 Senior Notes at a redemption price of 103.875% of the principal amount plus accrued and unpaid interest, if any, to the date of redemption. We may also redeem some or all of the 2029 Senior Notes before January 15, 2024 at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after January 15, 2024 and before January 15, 2026, we may redeem the notes, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2029 Senior Notes may require us to repurchase some or all of the notes. Our credit agreement also includes a provision that in certain circumstances we must use a portion of excess cash flow to repay debt. The 2029 Senior Notes are guaranteed by us and the majority our subsidiaries and are secured on equal footing with the obligations under the Senior Secured Credit Agreement. Following the release of the proceeds from escrow on January 7, 2021, the notes became secured, on a first lien basis, from pledges of equity interests in our subsidiaries and by substantially all of the existing and future assets of Scripps. The 2029 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature.

We incurred approximately $13.8 million of deferred financing costs in connection with the issuance of the 2029 Senior Notes, which are being amortized over the life of the notes.

2027 Senior Unsecured Notes

On July 26, 2019, we issued $500 million of senior unsecured notes, which bear interest at a rate of 5.875% per annum and mature on July 15, 2027 ("the 2027 Senior Notes"). The 2027 Senior Notes were priced at 100% of par value and interest is payable semi-annually on July 15 and January 15. We may redeem the notes before July 15, 2025, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2027 Senior Notes may require us to repurchase some or all of the notes. The 2027 Senior Notes are fully and unconditionally guaranteed on a senior unsecured basis by certain of our existing and future domestic restricted subsidiaries. The 2027 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature. There are no registration rights associated with the 2027 Senior Notes.

We incurred approximately $10.7 million of deferred financing costs in connection with the issuance of the 2027 Senior Notes, which are being amortized over the life of the notes.

2031 Senior Unsecured Notes

On December 30, 2020, we issued $500 million of senior unsecured notes (the "2031 Senior Notes"), which bear interest at a rate of 5.375% per annum and mature on January 15, 2031. The proceeds of the 2031 Senior Notes were deposited into a segregated escrow account. The escrow account was subsequently released on January 7, 2021 and used toward the financing of the ION acquisition (See Note 3). The 2031 Senior Notes were priced at 100% of par value and interest is payable semi-annually on January 15 and July 15, commencing on July 15, 2021. Prior to January 15, 2024 we may redeem up to 40% of the aggregate principal amount of the 2031 Senior Notes at a redemption price of 105.375% of the principal amount plus accrued and unpaid interest, if any, to the date of redemption. We may also redeem some or all of the 2031 Senior Notes before January 15, 2026 at a redemption price of 100% of the principal amount, plus accrued and unpaid interest, if any, to the redemption date plus a "make whole" premium. On or after January 15, 2026 and before January 15, 2029, we may redeem the notes, in whole or in part, at applicable redemption prices noted in the indenture agreement. If we sell certain of our assets or have a change of control, the holders of the 2031 Senior Notes may require us to repurchase some or all of the notes. The 2031 Senior Notes are also guaranteed by us and the majority our subsidiaries. The 2031 Senior Notes contain covenants with which we must comply that are typical for borrowing transactions of this nature.

We incurred approximately $12.5 million of deferred financing costs in connection with the issuance of the 2031 Senior Notes, which are being amortized over the life of the notes.

Debt Repurchase Authorization

In May 2021, our Board of Directors provided additional debt repurchase program authorization pursuant to which we may reduce, through redemptions or open market purchases and retirement, a combination of the outstanding principal balance of our senior secured and senior unsecured notes. The authorization currently permits an aggregate principal amount reduction of up to $439.3 million and expires on March 1, 2023.

Debt Repurchase Transactions

During the first quarter of 2022, we redeemed $42.2 million of our 2027 Senior Notes, $26.6 million of our 2029 Senior Notes and $54.5 million of our 2031 Senior Notes. The redemptions resulted in a gain on extinguishment of debt of $1.2 million as the notes were redeemed for total consideration below par value of the notes.

On May 15, 2021, we redeemed the $400 million outstanding principal amount of our senior unsecured notes that were due to mature in 2025. The redemption price was equal to 102.563% of the aggregate principal amount plus accrued and unpaid interest. The redemption resulted in a loss on extinguishment of debt of $13.8 million, representing the premium paid to retire the notes and write-off of unamortized debt financing costs. The notes were redeemed with cash on hand.

During the fourth quarter of 2021, we redeemed $15.4 million of our 2027 Senior Notes and $22.0 million of our 2031 Senior Notes.

During the full year of 2021, we made additional principal payments on the 2028 term loan totaling $125 million.

Other Liabilities

6 Months Ended

Jun. 30, 2022

Other Liabilities Disclosure [Abstract]

Other Liabilities

Other liabilities consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Employee compensation and benefits	$	25,746	$	29,175
Deferred FCC repack income	48,229		47,977
Programming liability	291,111		352,686
Liability for pension benefits	98,153		102,831
Liabilities for uncertain tax positions	10,465		12,280

Other	30,858		30,989
Other liabilities (less current portion)	$	504,562	$	575,938

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

The following table presents additional information about the change in certain working capital accounts:


	Six Months Ended June 30,
(in thousands)	2022		2021

Accounts receivable	$	(7,524)	$	15,223

Other current assets	(24,321)		(19,155)
Accounts payable	4,299		12,591
Accrued employee compensation and benefits	(26,024)		(11,392)
Accrued interest	(2,663)		19,404
Other accrued liabilities	1,169		(15,379)
Unearned revenue	2,469		(4,187)
Other, net	(921)		(134)
Total	$	(53,516)	$	(3,029)

Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

We sponsor a noncontributory defined benefit pension plan and non-qualified Supplemental Executive Retirement Plans ("SERPs"). The accrual for future benefits has been frozen in our defined benefit pension plan and SERPs.

We sponsor a defined contribution plan covering substantially all non-union and certain union employees. We match a portion of employees' voluntary contributions to this plan.

Other union-represented employees are covered by defined benefit pension plans jointly sponsored by us and the union, or by union-sponsored multi-employer plans.

The components of the employee benefit plan expense consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021


Interest cost	$	4,333	$	4,103	$	8,666	$	8,206
Expected return on plan assets, net of expenses	(6,224)		(5,820)		(12,448)		(11,640)

Amortization of actuarial loss and prior service cost	1,015		1,486		2,029		2,973

Total for defined benefit pension plan	(876)		(231)		(1,753)		(461)

SERPs	214		224		428		447
Defined contribution plan	3,871		3,702		8,324		7,680
Net periodic benefit cost	$	3,209	$	3,695	$	6,999	$	7,666

We contributed $0.5 million to fund current benefit payments for our SERPs during the six months ended June 30, 2022. During the remainder of 2022, we anticipate contributing an additional $1.3 million to fund the SERPs' benefit payments. We have met our 2022 funding requirements under the provisions of the Pension Funding Equity Act of 2004 and the Pension Protection Act of 2006.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

We determine our business segments based upon our management and internal reporting structures, as well as the basis on which our chief operating decision maker makes resource-allocation decisions.

Our Local Media segment includes our 61 local broadcast stations and their related digital operations. It is comprised of 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. We also have 12 CW affiliates - four on full power stations and eight on multicast; five independent stations and 10 additional low power stations. Our Local Media segment earns revenue primarily from the sale of advertising to local, national and political advertisers and retransmission fees received from cable operators, telecommunications companies, satellite carriers and over-the-top virtual MVPDs.

Our Scripps Networks segment is comprised of nine national television networks that reach nearly every U.S. television home through free over-the-air broadcast, cable/satellite, connected TV and digital distribution. These operations earn revenue primarily through the sale of advertising.

Our respective business segment results reflect the impact of intercompany carriage agreements between our local broadcast television stations and our national networks. We also allocate a portion of certain corporate costs and expenses, including accounting, procurement, human resources, employee benefit and information technology to our business segments. These intercompany agreements and allocations are generally amounts agreed upon by management, which may differ from an arms-length amount.

The other segment caption aggregates our operating segments that are too small to report separately. Costs for centrally provided services and certain corporate costs that are not allocated to the business segments are included in shared services and corporate costs. These unallocated corporate costs would also include the costs associated with being a public company. Corporate assets are primarily cash and cash equivalents, restricted cash, property and equipment primarily used for corporate purposes and deferred income taxes.

Our chief operating decision maker evaluates the operating performance of our business segments and makes decisions about the allocation of resources to our business segments using a measure called segment profit. Segment profit excludes interest, defined benefit pension plan amounts, income taxes, depreciation and amortization, impairment charges, divested operating units, restructuring activities, investment results and certain other items that are included in net income (loss) determined in accordance with accounting principles generally accepted in the United States of America.

Information regarding our business segments is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Segment operating revenues:
Local Media	$	355,819	$	324,837	$	682,480	$	637,418
Scripps Networks	238,929		238,735		477,997		452,395
Other	3,893		5,050		8,044		23,171
Intersegment eliminations	(4,174)		(3,545)		(8,348)		(6,986)
Total operating revenues	$	594,467	$	565,077	$	1,160,173	$	1,105,998
Segment profit (loss):
Local Media	$	80,742	$	64,643	$	135,135	$	120,580
Scripps Networks	73,297		107,317		158,373		199,520
Other	(4,349)		(541)		(5,462)		2,740
Shared services and corporate	(18,115)		(19,138)		(41,326)		(38,059)
Acquisition and related integration costs	—		(6,686)		(1,642)		(35,331)
Restructuring costs	—		(514)		—		(7,564)
Depreciation and amortization of intangible assets	(41,019)		(40,751)		(80,764)		(80,258)

Gains (losses), net on disposal of property and equipment	(1,577)		(75)		(4,058)		(155)
Interest expense	(36,011)		(42,010)		(72,510)		(85,892)
Gain (loss) on extinguishment of debt	—		(13,775)		1,234		(13,775)
Defined benefit pension plan income	662		7		1,325		14
Gain on sale of Triton business	—		—		—		81,784
Losses on stock warrant	—		(31,874)		—		(99,118)
Miscellaneous, net	2,170		(2,707)		1,763		(7,558)
Income from continuing operations before income taxes	$	55,800	$	13,896	$	92,068	$	36,928
Depreciation:
Local Media	$	10,526	$	9,854	$	20,668	$	19,539
Scripps Networks	4,830		3,983		9,615		7,818
Other	44		45		88		294
Shared services and corporate	412		363		811		719
Total depreciation	$	15,812	$	14,245	$	31,182	$	28,370
Amortization of intangible assets:
Local Media	$	8,981	$	9,085	$	17,961	$	18,682
Scripps Networks	14,209		16,770		28,418		29,887
Other	471		—		952		2,147
Shared services and corporate	1,546		651		2,251		1,172
Total amortization of intangible assets	$	25,207	$	26,506	$	49,582	$	51,888
Additions to property and equipment:
Local Media	$	6,901	$	13,295	$	16,214	$	18,749
Scripps Networks	5,227		8,923		8,436		10,412
Other	36		—		45		430
Shared services and corporate	204		441		260		460
Total additions to property and equipment	$	12,368	$	22,659	$	24,955	$	30,051

A disaggregation of the principal activities from which we generate revenue is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Operating revenues:
Core advertising	$	389,261	$	393,459	$	781,796	$	754,762
Political	24,886		3,193		30,832		4,504
Retransmission and carriage fees	170,304		156,421		326,124		312,918
Other	10,016		12,004		21,421		33,814
Total operating revenues	$	594,467	$	565,077	$	1,160,173	$	1,105,998

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Capital Stock	6 Months Ended
Capital Stock	Jun. 30, 2022
Equity [Abstract]
Capital Stock	Capital Stock Capital Stock — We have two classes of common shares, Common Voting shares and Class A Common shares. The Class A Common shares are only entitled to vote on the election of the greater of three or one-third of the directors and other matters as required by Ohio law. In connection with the January 7, 2021 closing of the ION acquisition, we entered into a Securities Purchase Agreement with Berkshire Hathaway Inc., ("Berkshire Hathaway"), pursuant to which Berkshire Hathaway provided $600 million of financing in exchange for 6,000 Series A Preferred Shares of the Company. The Preferred Shares, having a face value of $100,000 per share, are perpetual and will be redeemable at the option of the Company beginning on the fifth anniversary of issuance, and redeemable at the option of the holders in the event of a Change of Control (as defined in the terms of the Preferred Shares), in each case at a redemption price of 105% of the face value, plus accrued and unpaid dividends (whether or not declared). As long as the Company pays quarterly dividends in cash on the Preferred Shares, the dividend rate will be 8% per annum. If dividends on the Preferred Shares, which compound quarterly, are not paid in full in cash, the rate will increase to 9% per annum for the remaining period of time that the Preferred Shares are outstanding. Preferred stock dividends were $24.0 million and $21.1 million in 2022 and 2021, respectively. Under the terms of the Preferred Shares, we are prohibited from paying dividends on and repurchasing our common shares until all Preferred Shares are redeemed. Class A Common Shares Stock Warrant — In connection with the Preferred Shares issuance, Berkshire Hathaway also received a warrant to purchases up to 23.1 million Class A shares, at an exercise price of $13 per share. The warrant is exercisable at the holder's option at any time or from time to time, in whole or in part, until the first anniversary of the date on which no Preferred Shares remain outstanding. Since the holder had the option to settle the warrant through cash payment of the exercise price and/or through surrendering portions of their Preferred Shares for the stated par value, a liability was recognized for the fair value of the warrant. The valuation model, classified within Level 3 of the fair value hierarchy, included inputs for the estimated term of the warrant, the historical volatility rate of Scripps common stock and the exercise price for the warrant. At time of issuance, the fair value of the warrant totaled $181 million and was being remeasured each reporting period with the changes in fair value of the warrant captured in the gains/losses on stock warrants caption in the Condensed Consolidated Statements of Operations. On May 14, 2021, the warrant agreement was amended to only permit settlement of the warrant through cash payment of the exercise price. Following the warrant amendment, the warrant is no longer accounted for as a liability award where mark-to-market changes in the fair value of the warrant are captured as gains or losses in our operating results. The fair value of the warrant was remeasured on May 14, 2021 at $280 million. The increase in our stock price during 2021 was the primary contributor to the increase in the fair value of the warrant. The value of the liability on the amendment date was reclassified to equity within the caption Additional Paid-in Capital.

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) ("AOCI") by component, including items reclassified out of AOCI, were as follows:


	Three Months Ended June 30, 2022
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, March 31, 2022	$	(72,886)	$	(193)	$	(73,079)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $258(a)	827		3		830
Net current-period other comprehensive income (loss)	827		3		830
Ending balance, June 30, 2022	$	(72,059)	$	(190)	$	(72,249)


	Three Months Ended June 30, 2021
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, March 31, 2021	$	(98,602)	$	(312)	$	(98,914)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $375(a)	1,186		20		1,206
Net current-period other comprehensive income (loss)	1,186		20		1,206
Ending balance, June 30, 2021	$	(97,416)	$	(292)	$	(97,708)


	Six Months Ended June 30, 2022
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, December 31, 2021	$	(73,713)	$	(196)	$	(73,909)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $515(a)	1,654		6		1,660

Net current-period other comprehensive income (loss)	1,654		6		1,660
Ending balance, June 30, 2022	$	(72,059)	$	(190)	$	(72,249)


	Six Months Ended June 30, 2021
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, December 31, 2020	$	(99,789)	$	(330)	$	(100,119)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $749(a)	2,373		38		2,411
Net current-period other comprehensive income (loss)	2,373		38		2,411
Ending balance, June 30, 2021	$	(97,416)	$	(292)	$	(97,708)

(a) Actuarial gain (loss) is included in defined benefit pension plan expense in the Condensed Consolidated Statements of Operations

Assets Held for Sale and Discontinued Operations

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale and Discontinued Operations

Stitcher

On October 16, 2020, we closed on the sale of our Stitcher podcasting business. Stitcher is classified as discontinued operations in our condensed consolidated financial statements.

Operating results for the discontinued Stitcher business were as follows:


(in thousands)	Three Months Ended June 30, 2021		Six months ended June 30, 2021

Operating revenues	$	—	$	—
Total costs and expenses	(600)		(600)
Depreciation and amortization of intangible assets	—		—
Other, net	—		—
Loss from operations	(600)		(600)
Pretax gain on disposal	6,366		9,052
Gain from discontinued operations before income taxes	5,766		8,452
Provision for income taxes	1,335		1,957
Income from discontinued operations, net of tax	$	4,431	$	6,495

During the first six months of 2021, the estimate for the contingent earnout consideration was increased by $9.1 million. The fair value estimate for the contingent earnout consideration was $19.1 million as of June 30, 2021.

Triton Digital

During the first quarter of 2021, our Board of Directors approved the sale of our Triton Digital business. On February 16, 2021, we signed a definitive agreement to sell the business and the transaction closed on March 31, 2021. The sale generated total net proceeds of $225 million and we recognized a pre-tax gain from disposition totaling $81.8 million.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The interim financial statements should be read in conjunction with the audited consolidated financial statements, including the notes thereto included in our 2021 Annual Report on Form 10-K. In management's opinion, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation of the interim periods have been made. Results of operations are not necessarily indicative of the results that may be expected for future interim periods or for the full year.
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements include our accounts and those of our wholly-owned and majority-owned subsidiaries and variable interest entities (VIEs) for which we are the primary beneficiary. We are the primary beneficiary of a VIE when we have the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE and have the obligation to absorb losses or the right to receive returns that would be significant to the VIE. Noncontrolling interest represents an owner’s share of the equity in certain of our consolidated entities. All intercompany transactions and account balances have been eliminated in consolidation. Investments in entities over which we have significant influence but not control are accounted for using the equity method of accounting. Income from equity method investments represents our proportionate share of net income generated by equity method investees.
Nature of Operations	Nature of Operations — We are a diverse media enterprise, serving audiences and businesses through a portfolio of local television stations and national media brands. All of our businesses provide content and services via digital platforms, including the Internet, smartphones and tablets. Our media businesses are organized into the following reportable business segments: Local Media, Scripps Networks and Other. Additional information for our business segments is presented in Note 13. Segment Information.
Use of Estimates	Use of Estimates — Preparing financial statements in accordance with accounting principles generally accepted in the United States of America requires us to make a variety of decisions that affect the reported amounts and the related disclosures. Such decisions include the selection of accounting principles that reflect the economic substance of the underlying transactions and the assumptions on which to base accounting estimates. In reaching such decisions, we apply judgment based on our understanding and analysis of the relevant circumstances, including our historical experience, actuarial studies and other assumptions. Our financial statements include estimates and assumptions used in accounting for our defined benefit pension plans; the periods over which long-lived assets are depreciated or amortized; the fair value of long-lived assets, goodwill and indefinite lived assets; the liability for uncertain tax positions and valuation allowances against deferred income tax assets; the fair value of assets acquired and liabilities assumed in business combinations; and self-insured risks. While we re-evaluate our estimates and assumptions on an ongoing basis, actual results could differ from those estimated at the time of preparation of the financial statements.
Nature of Products and Services	Nature of Products and Services — The following is a description of principal activities from which we generate revenue. Core Advertising — Core advertising is comprised of sales to local and national customers. The advertising includes a combination of broadcast airtime, as well as digital advertising. Pricing of advertising time is based on audience size and share, the demographic of our audiences and the demand for our limited inventory of commercial time. Advertising time is sold through a combination of local and national sales staff and national sales representative firms. Digital revenues are primarily generated from the sale of advertising to local and national customers on our local television websites, smartphone apps, tablet apps and other platforms. Political Advertising — Political advertising is generally sold through our Washington D.C. sales office. Advertising is sold to presidential, gubernatorial, Senate and House of Representative candidates, as well as for state and local issues. It is also sold to political action groups (PACs) or other advocacy groups. Retransmission Revenues — We earn revenue from retransmission consent agreements with multi-channel video programming distributors (“MVPDs”) in our markets. The MVPDs are cable operators and satellite carriers who pay us to offer our programming to their customers. We also receive fees from over-the-top virtual MVPDs. The fees we receive are typically based on the number of subscribers in our local market and the contracted rate per subscriber. Other Products and Services — We derive revenue from sponsorships and community events through our Local Media segment. Our Scripps Networks segment offers subscription services for access to premium content to its customers.
Revenue Recognition	Revenue Recognition — Revenue is measured based on the consideration we expect to be entitled to in exchange for promised goods or services provided to customers, and excludes any amounts collected on behalf of third parties. Revenue is recognized upon transfer of control of promised products or services to customers. Advertising — Advertising revenue is recognized, net of agency commissions, over time primarily as ads are aired or impressions are delivered and any contracted audience guarantees are met. We apply the practical expedient to recognize revenue at the amount we have the right to invoice, which corresponds directly to the value a customer has received relative to our performance. For advertising sold based on audience guarantees, audience deficiency may result in an obligation to deliver additional advertisements to the customer. To the extent that we do not satisfy contracted audience ratings, we record deferred revenue until such time that the audience guarantee has been satisfied. Retransmission — Retransmission revenues are considered licenses of functional intellectual property and are recognized at the point in time the content is transferred to the customer. MVPDs report their subscriber numbers to us generally on a 30- to 90-day lag. Prior to receiving the MVPD reporting, we record revenue based on estimates of the number of subscribers, utilizing historical levels and trends of subscribers for each MVPD.
Contract Balances	Contract Balances — Timing of revenue recognition may differ from the timing of invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, or unearned revenue when revenue is recognized subsequent to invoicing. Payment terms may vary by contract type, although our terms generally include a requirement of payment within 30 to 90 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to receive financing from our customers. The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We estimate the allowance based on expected credit losses, including our historical experience of actual losses and known troubled accounts.
Leases	Leases — We determine if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, other current liabilities and operating lease liabilities in our Condensed Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the implicit rate is not readily determinable for most of our leases, we use our incremental borrowing rate when determining the present value of lease payments. The incremental borrowing rate represents an estimate of the interest rate we would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of the lease. The operating lease ROU asset also includes any payments made at or before commencement and is reduced by any lease incentives. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.
Share-Based Compensation	Share-Based Compensation — We have a Long-Term Incentive Plan (the “Plan”) which is described more fully in our 2021 Annual Report on Form 10-K. The Plan provides for the award of incentive and nonqualified stock options, stock appreciation rights, restricted stock units (RSUs) and unrestricted Class A Common shares and performance units to key employees and non-employee directors.
Earnings Per Share (EPS)	Earnings Per Share (“EPS”) — Unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our RSUs, are considered participating securities for purposes of calculating EPS. Under the two-class method, we allocate a portion of net income to these participating securities and, therefore, exclude that income from the calculation of EPS for common stock. We do not allocate losses to the participating securities.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards — In October 2021, the Financial Accounting Standards Board ("FASB") issued new guidance requiring entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with the revenue from contracts with customers accounting standard. The guidance will generally result in an entity recognizing contract assets and contract liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value. The guidance is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted. We adopted the new guidance effective January 1, 2022. The adoption of the guidance did not have an impact on our condensed consolidated financial statements. In May 2021, the FASB issued new guidance that clarifies an issuer's accounting for certain modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. Specifically, the guidance provides a "principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense." The guidance is effective for all entities with fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We adopted the new guidance effective January 1, 2022. The adoption of the guidance did not have an impact on our condensed consolidated financial statements. Recently Issued Accounting Standards — In November 2021, the FASB issued new guidance for entities to provide certain disclosures for material government assistance transactions that are accounted for by applying a grant or contribution accounting model by analogy. The guidance is effective for our 2022 annual reporting period and we do not expect adoption of the guidance to have a material impact on our annual consolidated financial statements and related disclosures. In March 2020, the FASB issued new guidance that provides optional expedients and exceptions to certain accounting requirements to facilitate the transition away from the use of the London Interbank Offered Rate (LIBOR) and other interbank offered rates. The guidance is effective as of March 12, 2020 and will apply through December 31, 2022 to all entities, subject to meeting certain criteria, that have contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We will evaluate transactions or contract modifications occurring as a result of reference rate reform to determine whether to apply the optional guidance on an ongoing basis.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Components of basic and diluted weighted-average shares

The following table presents information about basic and diluted weighted-average shares outstanding:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Numerator (for basic and diluted earnings per share)
Income from continuing operations, net of tax	$	41,740	$	1,213	$	64,105	$	4,716

Less income allocated to RSUs	(872)		—		(1,105)		—
Less preferred stock dividends	(12,577)		(12,576)		(25,153)		(24,219)
Numerator for basic and diluted earnings per share	$	28,291	$	(11,363)	$	37,847	$	(19,503)
Denominator
Basic weighted-average shares outstanding	83,270		82,381		83,030		82,143
Effect of dilutive securities:
Restricted stock units	235		—		424		—
Common stock warrant	4,315		—		6,594		—
Diluted weighted-average shares outstanding	87,820		82,381		90,048		82,143

Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of net cash consideration for transaction

The following table summarizes the net cash consideration for the ION transaction.


(in thousands)

Total purchase price	$	2,650,000
Plus: Cash acquired	14,493
Plus: Working capital	57,755
Total transaction gross cash consideration	2,722,248
Less: Proceeds from ION stations divested	(30,000)
Total transaction net cash consideration	2,692,248
Less: Cash acquired	(14,493)
Total consideration, net of cash acquired	$	2,677,755

Schedule of preliminary fair value of assets acquired and liabilities assumed

The following table summarizes the final fair values of the ION assets acquired and liabilities assumed at the closing date.


(in thousands)

Accounts receivable	$	135,006
Other current assets	25,353
Programming rights	169,027
Property and equipment	122,520
Operating lease right-of-use assets	72,717
Other assets	2,295
Goodwill	1,796,148
Indefinite-lived intangible assets - FCC licenses	424,200
Amortizable intangible assets:
INYO affiliation agreement	422,000
Other affiliation relationships	22,000
Advertiser relationships	143,000
Trade names	72,000
Accounts payable	(9,674)
Unearned revenue	(13,043)
Accrued expenses	(15,814)
Current portion of programming liabilities	(92,721)
Other current liabilities	(24,810)
Programming liabilities	(191,837)
Deferred tax liabilities	(265,291)
Operating lease liabilities	(78,438)
Other long-term liabilities	(36,883)
Total consideration, net of cash acquired	$	2,677,755

Schedule of pro forma information


(in thousands, except per share data) (unaudited)	Six Months Ended June 30, 2021

Operating revenues	$	1,112,720
Net income attributable to Scripps shareholders	19,911
Net income per share:
Basic	$	0.24
Diluted	0.23

Leases (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Schedule of information related to operating leases

Other information related to our operating leases was as follows:


(in thousands, except lease term and discount rate)	As of June 30, 2022			As of December 31, 2021

Balance Sheet Information
Right-of-use assets	$	115,543		$	124,821
Other current liabilities	19,022			20,066
Operating lease liabilities	104,238			113,892
Weighted Average Remaining Lease Term
Operating leases	8.11 years			8.35 years
Weighted Average Discount Rate
Operating leases	4.15		%	4.16		%

Schedule of lease cost information


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities	$	6,198	$	5,801	$	12,256	$	10,676
Right-of-use assets obtained in exchange for lease obligations	1,232		977		1,463		6,957

Schedule of minimum lease payments under non-cancellable operating leases

Future minimum lease payments under non-cancellable operating leases as of June 30, 2022 were as follows:


(in thousands)	Operating Leases

Remainder of 2022	$	13,319
2023	24,481
2024	21,555
2025	17,245
2026	15,168
Thereafter	54,503
Total future minimum lease payments	146,271
Less: Imputed interest	(23,011)
Total	$	123,260

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Goodwill consisted of the following:


(in thousands)	Local Media		Scripps Networks		Other		Total

Gross balance as of December 31, 2021	$	1,122,408	$	2,028,890	$	—	$	3,151,298
Accumulated impairment losses	(216,914)		(21,000)		—		(237,914)
Net balance as of December 31, 2021	$	905,494	$	2,007,890	$	—	$	2,913,384

Gross balance as of June 30, 2022	$	1,122,408	$	2,028,890	$	7,082	$	3,158,380
Accumulated impairment losses	(216,914)		(21,000)		—		(237,914)
Net balance as of June 30, 2022	$	905,494	$	2,007,890	$	7,082	$	2,920,466

Summary of other finite-lived intangible assets

Other intangible assets consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Amortizable intangible assets:
Carrying amount:
Television affiliation relationships	$	1,060,244	$	1,060,244
Customer lists and advertiser relationships	220,997		217,400
Other	136,133		130,265
Total carrying amount	1,417,374		1,407,909
Accumulated amortization:
Television affiliation relationships	(195,057)		(168,021)
Customer lists and advertiser relationships	(92,789)		(77,711)
Other	(40,349)		(32,881)
Total accumulated amortization	(328,195)		(278,613)
Net amortizable intangible assets	1,089,179		1,129,296
Indefinite-lived intangible assets — FCC licenses	781,015		781,015
Total other intangible assets	$	1,870,194	$	1,910,311

Schedule of indefinite-lived intangible assets

Other intangible assets consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Amortizable intangible assets:
Carrying amount:
Television affiliation relationships	$	1,060,244	$	1,060,244
Customer lists and advertiser relationships	220,997		217,400
Other	136,133		130,265
Total carrying amount	1,417,374		1,407,909
Accumulated amortization:
Television affiliation relationships	(195,057)		(168,021)
Customer lists and advertiser relationships	(92,789)		(77,711)
Other	(40,349)		(32,881)
Total accumulated amortization	(328,195)		(278,613)
Net amortizable intangible assets	1,089,179		1,129,296
Indefinite-lived intangible assets — FCC licenses	781,015		781,015
Total other intangible assets	$	1,870,194	$	1,910,311

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Components of long-term debt

Long-term debt consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Revolving credit facility	$	60,000	$	—
Senior secured notes, due in 2029	523,356		550,000

Senior unsecured notes, due in 2027	442,473		484,655
Senior unsecured notes, due in 2031	423,463		477,958
Term loan, due in 2024	285,750		287,250
Term loan, due in 2026	740,243		744,049
Term loan, due in 2028	663,000		667,000

Total outstanding principal	3,138,285		3,210,912
Less: Debt issuance costs and issuance discounts	(55,321)		(62,907)
Less: Current portion	(18,612)		(18,612)
Net carrying value of long-term debt	$	3,064,352	$	3,129,393
Fair value of long-term debt *	$	2,842,365	$	3,249,278

Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Other Liabilities Disclosure [Abstract]

Other liabilities

Other liabilities consisted of the following:


(in thousands)	As of June 30, 2022		As of December 31, 2021

Employee compensation and benefits	$	25,746	$	29,175
Deferred FCC repack income	48,229		47,977
Programming liability	291,111		352,686
Liability for pension benefits	98,153		102,831
Liabilities for uncertain tax positions	10,465		12,280

Other	30,858		30,989
Other liabilities (less current portion)	$	504,562	$	575,938

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2022

Supplemental Cash Flow Elements [Abstract]

Change in certain working capital accounts

The following table presents additional information about the change in certain working capital accounts:


	Six Months Ended June 30,
(in thousands)	2022		2021

Accounts receivable	$	(7,524)	$	15,223

Other current assets	(24,321)		(19,155)
Accounts payable	4,299		12,591
Accrued employee compensation and benefits	(26,024)		(11,392)
Accrued interest	(2,663)		19,404
Other accrued liabilities	1,169		(15,379)
Unearned revenue	2,469		(4,187)
Other, net	(921)		(134)
Total	$	(53,516)	$	(3,029)

Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Components of benefit expense

The components of the employee benefit plan expense consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021


Interest cost	$	4,333	$	4,103	$	8,666	$	8,206
Expected return on plan assets, net of expenses	(6,224)		(5,820)		(12,448)		(11,640)

Amortization of actuarial loss and prior service cost	1,015		1,486		2,029		2,973

Total for defined benefit pension plan	(876)		(231)		(1,753)		(461)

SERPs	214		224		428		447
Defined contribution plan	3,871		3,702		8,324		7,680
Net periodic benefit cost	$	3,209	$	3,695	$	6,999	$	7,666

Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Information regarding business segments

Information regarding our business segments is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Segment operating revenues:
Local Media	$	355,819	$	324,837	$	682,480	$	637,418
Scripps Networks	238,929		238,735		477,997		452,395
Other	3,893		5,050		8,044		23,171
Intersegment eliminations	(4,174)		(3,545)		(8,348)		(6,986)
Total operating revenues	$	594,467	$	565,077	$	1,160,173	$	1,105,998
Segment profit (loss):
Local Media	$	80,742	$	64,643	$	135,135	$	120,580
Scripps Networks	73,297		107,317		158,373		199,520
Other	(4,349)		(541)		(5,462)		2,740
Shared services and corporate	(18,115)		(19,138)		(41,326)		(38,059)
Acquisition and related integration costs	—		(6,686)		(1,642)		(35,331)
Restructuring costs	—		(514)		—		(7,564)
Depreciation and amortization of intangible assets	(41,019)		(40,751)		(80,764)		(80,258)

Gains (losses), net on disposal of property and equipment	(1,577)		(75)		(4,058)		(155)
Interest expense	(36,011)		(42,010)		(72,510)		(85,892)
Gain (loss) on extinguishment of debt	—		(13,775)		1,234		(13,775)
Defined benefit pension plan income	662		7		1,325		14
Gain on sale of Triton business	—		—		—		81,784
Losses on stock warrant	—		(31,874)		—		(99,118)
Miscellaneous, net	2,170		(2,707)		1,763		(7,558)
Income from continuing operations before income taxes	$	55,800	$	13,896	$	92,068	$	36,928
Depreciation:
Local Media	$	10,526	$	9,854	$	20,668	$	19,539
Scripps Networks	4,830		3,983		9,615		7,818
Other	44		45		88		294
Shared services and corporate	412		363		811		719
Total depreciation	$	15,812	$	14,245	$	31,182	$	28,370
Amortization of intangible assets:
Local Media	$	8,981	$	9,085	$	17,961	$	18,682
Scripps Networks	14,209		16,770		28,418		29,887
Other	471		—		952		2,147
Shared services and corporate	1,546		651		2,251		1,172
Total amortization of intangible assets	$	25,207	$	26,506	$	49,582	$	51,888
Additions to property and equipment:
Local Media	$	6,901	$	13,295	$	16,214	$	18,749
Scripps Networks	5,227		8,923		8,436		10,412
Other	36		—		45		430
Shared services and corporate	204		441		260		460
Total additions to property and equipment	$	12,368	$	22,659	$	24,955	$	30,051

Disaggregation of principal revenue generating activities

A disaggregation of the principal activities from which we generate revenue is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2022		2021		2022		2021

Operating revenues:
Core advertising	$	389,261	$	393,459	$	781,796	$	754,762
Political	24,886		3,193		30,832		4,504
Retransmission and carriage fees	170,304		156,421		326,124		312,918
Other	10,016		12,004		21,421		33,814
Total operating revenues	$	594,467	$	565,077	$	1,160,173	$	1,105,998

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of accumulated other comprehensive loss

Changes in accumulated other comprehensive income (loss) ("AOCI") by component, including items reclassified out of AOCI, were as follows:


	Three Months Ended June 30, 2022
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, March 31, 2022	$	(72,886)	$	(193)	$	(73,079)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $258(a)	827		3		830
Net current-period other comprehensive income (loss)	827		3		830
Ending balance, June 30, 2022	$	(72,059)	$	(190)	$	(72,249)


	Three Months Ended June 30, 2021
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, March 31, 2021	$	(98,602)	$	(312)	$	(98,914)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $375(a)	1,186		20		1,206
Net current-period other comprehensive income (loss)	1,186		20		1,206
Ending balance, June 30, 2021	$	(97,416)	$	(292)	$	(97,708)


	Six Months Ended June 30, 2022
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, December 31, 2021	$	(73,713)	$	(196)	$	(73,909)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $515(a)	1,654		6		1,660

Net current-period other comprehensive income (loss)	1,654		6		1,660
Ending balance, June 30, 2022	$	(72,059)	$	(190)	$	(72,249)


	Six Months Ended June 30, 2021
(in thousands)	Defined Benefit Pension Items		Other		Total

Beginning balance, December 31, 2020	$	(99,789)	$	(330)	$	(100,119)
Other comprehensive income (loss) before reclassifications	—		—		—
Amounts reclassified from AOCI, net of tax of $749(a)	2,373		38		2,411
Net current-period other comprehensive income (loss)	2,373		38		2,411
Ending balance, June 30, 2021	$	(97,416)	$	(292)	$	(97,708)

(a) Actuarial gain (loss) is included in defined benefit pension plan expense in the Condensed Consolidated Statements of Operations

Assets Held for Sale and Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Summary of discontinued operations

Operating results for the discontinued Stitcher business were as follows:


(in thousands)	Three Months Ended June 30, 2021		Six months ended June 30, 2021

Operating revenues	$	—	$	—
Total costs and expenses	(600)		(600)
Depreciation and amortization of intangible assets	—		—
Other, net	—		—
Loss from operations	(600)		(600)
Pretax gain on disposal	6,366		9,052
Gain from discontinued operations before income taxes	5,766		8,452
Provision for income taxes	1,335		1,957
Income from discontinued operations, net of tax	$	4,431	$	6,495

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 205
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 4,869		$ 4,869		$ 4,256
Unearned revenue	23,767		23,767		$ 20,000
Prior year unearned revenue recognized in period			9,200
Share-based compensation costs	$ 4,600	$ 6,400	$ 13,900	$ 14,700
Antidilutive securities excluded from computation of Earnings Per Share, amount			1.8	2.5

Summary of Significant Accounting Policies - Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator (for basic and diluted earnings per share)
Income from continuing operations, net of tax	$ 41,740	$ 1,213	$ 64,105	$ 4,716
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic	(872)	0	(1,105)	0
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted	(872)	0	(1,105)	0
Less preferred stock dividends	(12,577)	(12,576)	(25,153)	(24,219)
Net income (loss) attributable to the shareholders of The E.W. Scripps Company	28,291	(11,363)	37,847	(19,503)
Numerator for diluted earnings per shares	$ 28,291	$ (11,363)	$ 37,847	$ (19,503)
Denominator
Basic weighted-average shares outstanding (in shares)	83,270	82,381	83,030	82,143
Effect of dilutive securities:
Restricted stock units (in shares)	235	0	424	0
Common stock warrant (in shares)	4,315	0	6,594	0
Diluted weighted-average shares outstanding (in shares)	87,820	82,381	90,048	82,143

Acquisitions - Acquisition Information (Details) $ / shares in Units, $ in Thousands, home in Millions			6 Months Ended
	Jan. 05, 2022 USD ($)	Jan. 07, 2021 USD ($) home station $ / shares shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Total consideration, net of cash acquired			$ 13,797	$ 2,679,798
Goodwill			$ 2,920,466		$ 2,913,384
Common stock, Class A \| Berkshire Hathaway
Business Acquisition [Line Items]
Number of shares purchasable by warrant (up to) \| shares		23,100,000
Exercise right of warrants ( in dollars per share) \| $ / shares		$ 13
ION Media
Business Acquisition [Line Items]
Total consideration, net of cash acquired		$ 2,677,755
Goodwill		1,796,148
Business acquisition, purchase price		$ 2,650,000
Exercise right of warrants ( in dollars per share) \| $ / shares		$ 13
Number of stations to be divested \| station		23
Consideration received for business		$ 30,000
ION Media \| United States
Business Acquisition [Line Items]
Number of US homes \| home		100
ION Media \| Preferred Stock \| Berkshire Hathaway
Business Acquisition [Line Items]
Preferred equity investment		$ 600,000
ION Media \| Common stock, Class A \| Berkshire Hathaway
Business Acquisition [Line Items]
Number of shares purchasable by warrant (up to) \| shares		23,100,000
ION Media \| Advertiser relationships
Business Acquisition [Line Items]
Amortizable intangible assets		$ 143,000
Intangible asset, estimated amortization period		7 years
ION Media \| INYO affiliation agreement
Business Acquisition [Line Items]
Amortizable intangible assets		$ 422,000
Intangible asset, estimated amortization period		20 years
ION Media \| Other affiliation relationships
Business Acquisition [Line Items]
Amortizable intangible assets		$ 22,000
Intangible asset, estimated amortization period		10 years
ION Media \| Trade names
Business Acquisition [Line Items]
Amortizable intangible assets		$ 72,000
Intangible asset, estimated amortization period		10 years
Nuvyyo
Business Acquisition [Line Items]
Total consideration, net of cash acquired	$ 13,800
Amortizable intangible assets	7,200
Goodwill	$ 7,100
Nuvyyo \| Minimum
Business Acquisition [Line Items]
Intangible asset, estimated amortization period	3 years
Nuvyyo \| Maximum
Business Acquisition [Line Items]
Intangible asset, estimated amortization period	5 years

Acquisitions - Acquisition Purchase Summary (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 07, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Total consideration, net of cash acquired		$ 13,797	$ 2,679,798
ION Media
Business Acquisition [Line Items]
Total purchase price	$ 2,650,000
Plus: Cash acquired	14,493
Plus: Working capital	57,755
Total transaction gross cash consideration	2,722,248
Less: Proceeds from ION stations divested	(30,000)
Total transaction net cash consideration	2,692,248
Less: Cash acquired	(14,493)
Total consideration, net of cash acquired	$ 2,677,755

Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jan. 07, 2021
Business Acquisition [Line Items]
Goodwill	$ 2,920,466	$ 2,913,384
ION Media
Business Acquisition [Line Items]
Accounts receivable			$ 135,006
Other current assets			25,353
Programming rights			169,027
Property and equipment			122,520
Operating lease right-of-use assets			72,717
Other assets			2,295
Goodwill			1,796,148
Amortizable intangible assets:
Accounts payable			(9,674)
Unearned revenue			(13,043)
Accrued expenses			(15,814)
Current portion of programming liabilities			(92,721)
Other current liabilities			(24,810)
Programming liabilities			(191,837)
Deferred tax liabilities			(265,291)
Operating lease liabilities			(78,438)
Other long-term liabilities			(36,883)
Total consideration, net of cash acquired			2,677,755
ION Media \| INYO affiliation agreement
Amortizable intangible assets:
Amortizable intangible assets:			422,000
ION Media \| Other affiliation relationships
Amortizable intangible assets:
Amortizable intangible assets:			22,000
ION Media \| Advertiser relationships
Amortizable intangible assets:
Amortizable intangible assets:			143,000
ION Media \| Trade names
Amortizable intangible assets:
Amortizable intangible assets:			72,000
ION Media \| Indefinite-lived intangible assets - FCC licenses
Business Acquisition [Line Items]
Indefinite-lived intangible assets - FCC licenses			$ 424,200

Acquisitions - Pro Forma Information (Details) - ION Media $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($) $ / shares
Operating revenues	$ 1,112,720
Net income attributable to Scripps shareholders	$ 19,911
Net income per share:
Basic (in dollars per share) \| $ / shares	$ 0.24
Diluted (in dollars per share) \| $ / shares	$ 0.23
Acquisition-related Costs
Net income attributable to Scripps shareholders	$ 32,800

Asset Write-Downs and Other Charges and Credits (Details) - USD ($) $ in Thousands			3 Months Ended					6 Months Ended
	May 15, 2021	Mar. 31, 2021	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisition and related integration costs			$ 0			$ 6,686		$ 1,642	$ 35,331
Loss (gain) on extinguishment of debt	$ 13,800		0	$ (1,200)		13,775		(1,234)	13,775
Restructuring costs							$ 7,100		7,600
Gain on sale of Triton business			$ 0			0		0	81,784
Losses on stock warrant						31,900		$ 0	$ 99,118
Senior unsecured notes, due in 2027
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment				42,200
Senior unsecured notes, due in 2027 \| Senior notes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment				42,200	$ 15,400
Senior secured notes, due in 2029
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment				26,600
Senior unsecured notes, due in 2031
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment				54,500
Senior unsecured notes, due in 2031 \| Senior notes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loan principal payment				$ 54,500	$ 22,000
Senior unsecured notes, due in 2025 \| Senior notes
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss (gain) on extinguishment of debt						13,800
Triton Digital Media \| Disposed of by sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds from sale of business						225,000
Gain on sale of Triton business		$ 81,800				$ 81,800

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Effective income tax rate		30.00%	87.00%
Net impact of various items effecting the income tax effective rate		$ 1.0	$ 1.7
Net discrete tax provision related to sale of business	$ 17.1
Nondeductible expense				$ 102.6
ION Media
Operating Loss Carryforwards [Line Items]
Nondeductible expense	$ 1.0
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Impact of change in state tax rate		$ 4.3
NOL valuation allowance adjustments			$ 1.2

Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 0	$ 34,257

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lessee, Lease, Description [Line Items]
Option to extend leases	5 years		5 years
Option to terminate leases			1 year
Operating lease costs	$ 6.7	$ 6.0	$ 13.2	$ 11.9
Short-term lease costs	$ 0.3	$ 0.4	$ 0.7	$ 0.9
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	30 years		30 years

Leases - Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use assets	$ 115,543	$ 124,821
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Other current liabilities	$ 19,022	20,066
Operating lease liabilities	$ 104,238	$ 113,892
Weighted Average Remaining Lease Term	8 years 1 month 9 days	8 years 4 months 6 days
Weighted Average Discount Rate	4.15%	4.16%

Leases - Lease Cost Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 6,198	$ 5,801	$ 12,256	$ 10,676
Right-of-use assets obtained in exchange for lease obligations	$ 1,232	$ 977	$ 1,463	$ 6,957

Leases - Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
Remainder of 2022	$ 13,319
2023	24,481
2024	21,555
2025	17,245
2026	15,168
Thereafter	54,503
Total future minimum lease payments	146,271
Less: Imputed interest	(23,011)
Total	$ 123,260

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Gross balance, beginning of period	$ 3,158,380	$ 3,151,298
Accumulated impairment losses	(237,914)	(237,914)
Net balance	2,920,466	2,913,384
Gross balance, end of period	3,158,380	3,151,298
Local Media
Goodwill [Roll Forward]
Gross balance, beginning of period	1,122,408	1,122,408
Accumulated impairment losses	(216,914)	(216,914)
Net balance	905,494	905,494
Gross balance, end of period	1,122,408	1,122,408
Scripps Networks
Goodwill [Roll Forward]
Gross balance, beginning of period	2,028,890	2,028,890
Accumulated impairment losses	(21,000)	(21,000)
Net balance	2,007,890	2,007,890
Gross balance, end of period	2,028,890	2,028,890
Other
Goodwill [Roll Forward]
Gross balance, beginning of period	7,082	0
Accumulated impairment losses	0	0
Net balance	7,082	0
Gross balance, end of period	$ 7,082	$ 0

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Carrying amount:
Total carrying amount	$ 1,417,374	$ 1,407,909
Accumulated amortization:
Total accumulated amortization	(328,195)	(278,613)
Net amortizable intangible assets	1,089,179	1,129,296
Indefinite-lived intangible assets — FCC licenses	781,015	781,015
Total other intangible assets	1,870,194	1,910,311
Television affiliation relationships
Carrying amount:
Total carrying amount	1,060,244	1,060,244
Accumulated amortization:
Total accumulated amortization	(195,057)	(168,021)
Customer lists and advertiser relationships
Carrying amount:
Total carrying amount	220,997	217,400
Accumulated amortization:
Total accumulated amortization	(92,789)	(77,711)
Other
Carrying amount:
Total carrying amount	136,133	130,265
Accumulated amortization:
Total accumulated amortization	$ (40,349)	$ (32,881)

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated amortization expense, remainder of 2022	$ 48.2
Estimated amortization expense, 2023	94.0
Estimated amortization expense, 2024	92.6
Estimated amortization expense, 2025	89.5
Estimated amortization expense, 2026	86.0
Estimated amortization expense, 2027	83.2
Estimated amortization expense, in later years	$ 595.7

Long-Term Debt - Components of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	May 01, 2019
Components of Long-term debt
Total outstanding principal	$ 3,138,285	$ 3,210,912
Less: Debt issuance costs and issuance discounts	(55,321)	(62,907)
Less: Current portion	(18,612)	(18,612)
Net carrying value of long-term debt	3,064,352	3,129,393
Fair value of long-term debt	2,842,365	3,249,278
Senior secured notes, due in 2029 \| Senior secured debt
Components of Long-term debt
Total outstanding principal	523,356	550,000
Senior unsecured notes, due in 2027 \| Senior unsecured notes
Components of Long-term debt
Total outstanding principal	442,473	484,655
Senior unsecured notes, due in 2031 \| Senior unsecured notes
Components of Long-term debt
Total outstanding principal	423,463	477,958
Term loan, due in 2024
Components of Long-term debt
Total outstanding principal	285,750	287,250
Term loan, due in 2026
Components of Long-term debt
Total outstanding principal	740,243	744,049
Less: Debt issuance costs and issuance discounts			$ (23,000)
Term loan, due in 2028
Components of Long-term debt
Total outstanding principal	663,000	667,000
Revolving credit facility \| Revolving credit facility
Components of Long-term debt
Total outstanding principal	$ 60,000	$ 0

Long-Term Debt - Narrative (Details)							1 Months Ended	3 Months Ended				6 Months Ended		12 Months Ended
Long-Term Debt - Narrative (Details)	May 15, 2021 USD ($)	Jan. 07, 2021 USD ($)	Dec. 30, 2020 USD ($)	Jul. 26, 2019 USD ($)	May 01, 2019 USD ($)	Oct. 02, 2017 USD ($)	May 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Debt issuance costs								$ 55,321,000		$ 62,907,000		$ 55,321,000		$ 62,907,000
Aggregate amount of debt principal repurchase program authorized							$ 439,300,000
Loss (gain) on extinguishment of debt	$ 13,800,000							0	$ (1,200,000)		$ 13,775,000	(1,234,000)	$ 13,775,000
Revolving credit facility \| Letter of credit
Debt Instrument [Line Items]
Letters of credit outstanding								7,100,000		$ 6,900,000		7,100,000		$ 6,900,000
Revolving credit facility \| Revolving credit facility
Debt Instrument [Line Items]
Revolving credit borrowing capacity		$ 400,000,000
Number of days before maturity		91 days
Total outstanding principal								$ 60,000,000				$ 60,000,000
Net leverage ratio requirement								4.75				4.75
Revolving credit facility \| Revolving credit facility \| LIBOR
Debt Instrument [Line Items]
Interest rate on line of credit facility								4.17%				4.17%
Weighted average interest rate during the period		3.49%
Revolving credit facility \| Revolving credit facility \| Minimum
Debt Instrument [Line Items]
Percentage of commitment fees of total unused commitment under revolving credit facility		0.30%
Revolving credit facility \| Revolving credit facility \| Minimum \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range		1.75%
Revolving credit facility \| Revolving credit facility \| Maximum
Debt Instrument [Line Items]
Percentage of commitment fees of total unused commitment under revolving credit facility		0.50%
Revolving credit facility \| Revolving credit facility \| Maximum \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range		2.50%
Term loan, due in 2024
Debt Instrument [Line Items]
Debt face value						$ 300,000,000
Net leverage ratio requirement						2.75
Annual principal payments						$ 3,000,000
Variable interest rate								3.67%		2.10%		3.67%		2.10%
Weighted average interest rate								2.77%			2.10%	2.77%	2.10%
Term loan, due in 2024 \| Minimum \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range						2.00%
Term loan, due in 2024 \| Maximum \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range						1.75%
Term loan, due in 2026
Debt Instrument [Line Items]
Debt face value					$ 765,000,000
Annual principal payments					7,600,000
Variable interest rate								4.23%		3.31%		4.23%		3.31%
Weighted average interest rate								3.43%			3.31%	3.43%	3.31%
Debt issuance costs					$ 23,000,000
Minimum LIBOR Rate		0.75%
Term loan, due in 2026 \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range					2.56%
Sixth Amendment Facility \| LIBOR
Debt Instrument [Line Items]
LIBOR plus margin range		3.00%
Sixth Amendment Facility \| Term loans
Debt Instrument [Line Items]
Debt issuance costs		$ 23,400,000
Sixth Amendment Facility \| Term loans \| ION Media
Debt Instrument [Line Items]
Debt face value		800,000,000
Term loan, due in 2028
Debt Instrument [Line Items]
Annual principal payments		$ 8,000,000
Minimum LIBOR Rate		0.75%
Additional loan principal payment														$ 125,000,000
Term loan, due in 2028 \| Term loans
Debt Instrument [Line Items]
Weighted average interest rate								3.70%			3.75%	3.70%	3.75%
Debt stated rate								4.42%		3.75%		4.42%		3.75%
Senior secured notes due 2029 \| Senior notes
Debt Instrument [Line Items]
Debt face value			$ 550,000,000
Debt issuance costs			$ 13,800,000
Debt stated rate			3.875%
Debt issuance price as a percentage of par			100.00%
Additional loan principal payment									26,600,000
Senior secured notes due 2029 \| Senior notes \| Redemption Period One
Debt Instrument [Line Items]
Redemption as a percent of principal			40.00%
Debt redemption price			103.875%
Senior secured notes due 2029 \| Senior notes \| Redemption Period Two
Debt Instrument [Line Items]
Debt redemption price			100.00%
Senior unsecured notes, due in 2025 \| Senior notes
Debt Instrument [Line Items]
Loss (gain) on extinguishment of debt											$ 13,800,000
Senior unsecured notes, due in 2025 \| Senior unsecured notes
Debt Instrument [Line Items]
Debt redemption price	102.563%
Additional loan principal payment	$ 400,000,000
Senior unsecured notes, due in 2027
Debt Instrument [Line Items]
Additional loan principal payment									42,200,000
Senior unsecured notes, due in 2027 \| Senior notes
Debt Instrument [Line Items]
Debt face value				$ 500,000,000
Debt issuance costs				$ 10,700,000
Debt stated rate				5.875%
Debt issuance price as a percentage of par				100.00%
Additional loan principal payment									42,200,000	$ 15,400,000
Senior unsecured notes, due in 2031
Debt Instrument [Line Items]
Additional loan principal payment									54,500,000
Senior unsecured notes, due in 2031 \| Senior notes
Debt Instrument [Line Items]
Debt face value			$ 500,000,000
Debt issuance costs			$ 12,500,000
Debt stated rate			5.375%
Debt issuance price as a percentage of par			100.00%
Additional loan principal payment									$ 54,500,000	$ 22,000,000
Senior unsecured notes, due in 2031 \| Senior notes \| Redemption Period One
Debt Instrument [Line Items]
Redemption as a percent of principal			40.00%
Debt redemption price			105.375%
Senior unsecured notes, due in 2031 \| Senior notes \| Redemption Period Two
Debt Instrument [Line Items]
Debt redemption price			100.00%

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Other liabilities
Employee compensation and benefits	$ 25,746	$ 29,175
Deferred FCC repack income	48,229	47,977
Programming liability	291,111	352,686
Liability for pension benefits	98,153	102,831
Liabilities for uncertain tax positions	10,465	12,280
Other	30,858	30,989
Other liabilities (less current portion)	$ 504,562	$ 575,938

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Other Changes in Certain Working Capital Accounts, Net
Accounts receivable	$ (7,524)	$ 15,223
Other current assets	(24,321)	(19,155)
Accounts payable	4,299	12,591
Accrued employee compensation and benefits	(26,024)	(11,392)
Accrued interest	(2,663)	19,404
Other accrued liabilities	1,169	(15,379)
Unearned revenue	2,469	(4,187)
Other, net	(921)	(134)
Total	$ (53,516)	$ (3,029)

Employee Benefit Plans - Components of Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 3,209	$ 3,695	$ 6,999	$ 7,666
Defined contribution plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	3,871	3,702	8,324	7,680
Defined benefit plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Interest cost	4,333	4,103	8,666	8,206
Expected return on plan assets, net of expenses	(6,224)	(5,820)	(12,448)	(11,640)
Amortization of actuarial loss and prior service cost	1,015	1,486	2,029	2,973
Total for defined benefit pension plan	(876)	(231)	(1,753)	(461)
SERPs
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Net periodic benefit cost	$ 214	$ 224	$ 428	$ 447

Employee Benefit Plans - Narrative (Details) - SERPs $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions to benefit plan	$ 0.5
Estimated future contributions	$ 1.3

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

Segment Information - Narrative (Details)	Jun. 30, 2022 station affiliate lowPowerStation
Segment Reporting Information [Line Items]
Number of national television networks \| station	9
Local Media
Segment Reporting Information [Line Items]
Number of local broadcast stations \| station	61
Number of low power stations operated \| lowPowerStation	10
Local Media \| ABC affiliates
Segment Reporting Information [Line Items]
Number of affiliates	18
Local Media \| NBC affiliates
Segment Reporting Information [Line Items]
Number of affiliates	11
Local Media \| CBS affiliates
Segment Reporting Information [Line Items]
Number of affiliates	9
Local Media \| FOX affiliates
Segment Reporting Information [Line Items]
Number of affiliates	4
Local Media \| CW affiliates
Segment Reporting Information [Line Items]
Number of affiliates	12
Number of full power stations \| station	4
Number of multicast \| station	8
Local Media \| Independent stations
Segment Reporting Information [Line Items]
Number of affiliates	5

Segment Information - Schedule of Business Segments (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
	May 15, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Information regarding business segments
Total operating revenues		$ 594,467		$ 565,077	$ 1,160,173	$ 1,105,998
Segment profit (loss)		88,979		104,255	160,256	161,473
Acquisition and related integration costs		0		(6,686)	(1,642)	(35,331)
Restructuring costs		0		(514)	0	(7,564)
Depreciation and amortization of intangible assets		(41,019)		(40,751)	(80,764)	(80,258)
Gains (losses), net on disposal of property and equipment		(1,577)		(75)	(4,058)	(155)
Interest expense		(36,011)		(42,010)	(72,510)	(85,892)
Gain (loss) on extinguishment of debt	$ (13,800)	0	$ 1,200	(13,775)	1,234	(13,775)
Defined benefit pension plan income		662		7	1,325	14
Gain on sale of Triton business		0		0	0	81,784
Losses on stock warrant		0		(31,874)	0	(99,118)
Miscellaneous, net		2,170		(2,707)	1,763	(7,558)
Income from continuing operations before income taxes		55,800		13,896	92,068	36,928
Depreciation:
Total depreciation		15,812		14,245	31,182	28,370
Amortization of intangible assets:
Total amortization of intangible assets		25,207		26,506	49,582	51,888
Additions to property and equipment:
Total additions to property and equipment		12,368		22,659	24,955	30,051
Intersegment Eliminations
Information regarding business segments
Total operating revenues		(4,174)		(3,545)	(8,348)	(6,986)
Shared Services and Corporate
Information regarding business segments
Segment profit (loss)		(18,115)		(19,138)	(41,326)	(38,059)
Depreciation:
Total depreciation		412		363	811	719
Amortization of intangible assets:
Total amortization of intangible assets		1,546		651	2,251	1,172
Additions to property and equipment:
Total additions to property and equipment		204		441	260	460
Local Media \| Operating Segments
Information regarding business segments
Total operating revenues		355,819		324,837	682,480	637,418
Segment profit (loss)		80,742		64,643	135,135	120,580
Depreciation:
Total depreciation		10,526		9,854	20,668	19,539
Amortization of intangible assets:
Total amortization of intangible assets		8,981		9,085	17,961	18,682
Additions to property and equipment:
Total additions to property and equipment		6,901		13,295	16,214	18,749
Scripps Networks \| Operating Segments
Information regarding business segments
Total operating revenues		238,929		238,735	477,997	452,395
Segment profit (loss)		73,297		107,317	158,373	199,520
Depreciation:
Total depreciation		4,830		3,983	9,615	7,818
Amortization of intangible assets:
Total amortization of intangible assets		14,209		16,770	28,418	29,887
Additions to property and equipment:
Total additions to property and equipment		5,227		8,923	8,436	10,412
Other \| Operating Segments
Information regarding business segments
Total operating revenues		3,893		5,050	8,044	23,171
Segment profit (loss)		(4,349)		(541)	(5,462)	2,740
Depreciation:
Total depreciation		44		45	88	294
Amortization of intangible assets:
Total amortization of intangible assets		471		0	952	2,147
Additions to property and equipment:
Total additions to property and equipment		$ 36		$ 0	$ 45	$ 430

Segment Information - Disaggregation of Revenue Generating Activities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 594,467	$ 565,077	$ 1,160,173	$ 1,105,998
Core advertising
Disaggregation of Revenue [Line Items]
Total operating revenues	389,261	393,459	781,796	754,762
Political
Disaggregation of Revenue [Line Items]
Total operating revenues	24,886	3,193	30,832	4,504
Retransmission and carriage fees
Disaggregation of Revenue [Line Items]
Total operating revenues	170,304	156,421	326,124	312,918
Other
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 10,016	$ 12,004	$ 21,421	$ 33,814

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Capital Stock (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
Capital Stock (Details) $ / shares in Units, $ in Thousands	Jan. 07, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) director classOfCommonShare	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) director classOfCommonShare	Jun. 30, 2021 USD ($)	May 14, 2021 USD ($)
Class of Stock [Line Items]
Classes of common shares \| classOfCommonShare		2		2
Minimum number of directors up for election to entitle shareholders to vote \| director		3		3
Percentage of directors up for election if more than minimum number		33.33%		33.33%
Preferred stock dividends		$ 12,000	$ 12,000	$ 24,000	$ 23,067
ION Media
Class of Stock [Line Items]
Exercise right of warrants ( in dollars per share) \| $ / shares	$ 13
Berkshire Hathaway \| Fair Value, Inputs, Level 3
Class of Stock [Line Items]
Fair value of warrants, with option to settle for cash, for Class A common stock	$ 181,000					$ 280,000
Preferred Stock \| Berkshire Hathaway \| ION Media
Class of Stock [Line Items]
Financing provided for business acquisition	$ 600,000
Preferred shares issued \| shares	6,000
Face value of preferred shares (in dollars per share) \| $ / shares	$ 100,000
Preferred shares redemption price, as a percent	105.00%
Preferred stock dividend rate	8.00%
Preferred stock dividend rate if dividends not paid in cash	9.00%
Preferred stock dividends		$ 24,000	$ 21,100
Common stock, Class A \| Berkshire Hathaway
Class of Stock [Line Items]
Number of shares purchasable by warrant (up to) \| shares	23,100,000
Exercise right of warrants ( in dollars per share) \| $ / shares	$ 13
Common stock, Class A \| Berkshire Hathaway \| ION Media
Class of Stock [Line Items]
Number of shares purchasable by warrant (up to) \| shares	23,100,000

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	$ 1,984,029	$ 1,569,187	$ 1,970,434	$ 1,163,265
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	830	1,206	1,660	2,411
Net current-period other comprehensive income (loss)	830	1,206	1,660	2,411
Equity, ending balance	2,019,614	1,850,739	2,019,614	1,850,739
Defined Benefit Pension Items
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(72,886)	(98,602)	(73,713)	(99,789)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	827	1,186	1,654	2,373
Net current-period other comprehensive income (loss)	827	1,186	1,654	2,373
Equity, ending balance	(72,059)	(97,416)	(72,059)	(97,416)
Actuarial gain (loss) tax amount	258	375	515	749
Other
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(193)	(312)	(196)	(330)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from AOCI, net of tax	3	20	6	38
Net current-period other comprehensive income (loss)	3	20	6	38
Equity, ending balance	(190)	(292)	(190)	(292)
Total
Accumulated Other Comprehensive Loss [Roll Forward]
Equity, beginning balance	(73,079)	(98,914)	(73,909)	(100,119)
Equity, ending balance	$ (72,249)	$ (97,708)	$ (72,249)	$ (97,708)

- Definition

+ References

+ Details

Assets Held for Sale and Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of Triton business		$ 0	$ 0	$ 0	$ 81,784
Disposed of by sale \| Triton Digital Media
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received for business	$ 225,000
Gain on sale of Triton business	$ 81,800		$ 81,800
Disposed of by sale \| Earnout contingent consideration \| Stitcher Podcasting Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in contingent earnout consideration					9,100
Earnout based on financial results					$ 19,100

Assets Held for Sale and Discontinued Operations - Operating Results of Discontinued Operations (Details) - Disposed of by sale - Stitcher Podcasting Business - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Operating revenues	$ 0	$ 0
Total costs and expenses	(600)	(600)
Loss from operations	(600)	(600)
Pretax gain on disposal	6,366	9,052
Gain from discontinued operations before income taxes	5,766	8,452
Provision for income taxes	1,335	1,957
Income from discontinued operations, net of tax	$ 4,431	$ 6,495