After delaying their reporting of the 1st Quarter earnings, Scripps finally got around to doing so.

The company claims that their revenue was up 34% from last year, with revenue of $511 million dollars.

The company’s core advertising decreased 11%. Cord cutting also was down and Scripps lost $10 million bucks compared to last year. They blamed the loss on declining legacy pay TV subscribers.

Scripps President-CEO Adam Symson said: “We are pleased to be announcing a significant round of debt refinancing. Our highest priority remains reducing our total amount of debt and improving the company’s leverage with a focus that is already yielding significant results. Our record political advertising revenue and strategic expense management helped drive down our leverage significantly, to 4.8x, at year-end 2024. That is nearly a full turn below year-end 2023 levels.

In that quote, the CEO says they are saving money with their “strategic expense management”. In other words, all those people that they laid off.

I guess “strategic expense management” sounds so much nicer than “screwing a bunch of people over.”