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Sara Fischer: Scripps lays off staff at local stations
E.W. Scripps is laying off staff across multiple local news stations, employees were told on Monday.
Why it matters: The cuts are the latest blow to shrinking local TV newsrooms across the U.S.
- Tegna laid off members from its fact-checking team in February.
- Nexstar said it would lay off 2% of staffers in December.
- Gray Television announced cuts amid a restructuring in November.
Zoom in: The Cincinnati, Ohio-based company operates 61 stations in 41 markets, including KMGH in Denver, WXYZ in Detroit and WTVF in Nashville.
- The company informed some local station employees Monday of newsroom layoffs and said that it would not fill any open positions, a source familiar with the cuts told Axios.
- Local station groups will determine how they wish to implement the layoffs, they noted.
- Scripps declined to comment.
Zoom out: Scripps cited active refinancing negotiations, including its term loan and revolving credit facility, when it delayed its fourth-quarter and full-year earnings report on Feb. 27.
- The company previously said it paid down $115 million of debt during the third quarter of 2024 and expected to pay down $300 million in total for the year.
- Scripps CEO Adam Symson announced in September that the company was shuttering its 24/7, national, over-the-air broadcast news channel and cutting about 200 staffers. He cited financial challenges stemming from brands and agencies not wanting to advertise around national news.
- What we’re watching: Scripps said it will release its next earnings report on March 11.
This article comes from WWSG exclusive thought leader, Sara Fischer.
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