The second quarter earnings report parade marched onward early Friday, with The E.W. Scripps Co. the latest broadcast media company to unveil its fiscal health review for the three-month period ending June 30.
How did Scripps perform? Like its free-to-air TV peers, political advertising surged. As such, core advertising was impacted, falling 2% year-over-year, as Scripps swung to net income from a Q2 2021 net loss.
Retransmission consent revenue was also a big factor for Local Media. Meanwhile, Scripps Networks revenue growth is slowing.