E.W. Scripps (SSP) risk factors, FY2025 10-K

E.W. Scripps's FY2025 10-K, filed Feb 27, 2026, lists 19 risk factors in 3 groups. Against the prior year's 20: 1 new, 2 dropped, 6 substantially reworded.

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Risk factors listed
193 groups
New this year
1vs 20 last year
Dropped
2since the prior 10-K
Substantially reworded
6of those kept
Section length
5k wordsItem 1A

What the changes say

  • Scripps added AI risks, disclosed $117 million in unpaid cumulative preferred dividends to Berkshire Hathaway, and detailed a $361 million accounts receivable securitization facility.

What changed since the prior 10-K

New

  • NewRisks Related to Our Businesses

    We are subject to risks related to our use of Artificial Intelligence ("AI"), a new and emerging technology, which is in the early stages of commercial use

    Using artificial intelligence introduces new regulatory, privacy, ethical, and accuracy risks that could negatively affect our business.

Dropped

  • DroppedRisks Related to Our Businesses

    and insurance industries. A disruption in advertising spend within these industries could adversely impact our revenue and we may not be able to secure adequate replacement advertisers

  • DroppedRisks Related to Our Businesses

    modifications (including renewing the license for a term of fewer than eight years), it could have a material adverse effect on the affected station’s revenue potential

    Automated ad pricing models could reduce advertising revenue and pricing power.

Reworded

  • 75% rewrittenRisks Related to Our Businesses

    The loss of skilled employees or an inability to attract and retain skilled employees could adversely affect our business

    Added benefit expenses to potential cost increases driven by labor shortages and elevated turnover.

  • 53% rewrittenRisks Related to Our Businesses

    Our television stations will continue to be subject to government regulations which, if revised, could adversely affect our operating results

    Added that the FCC usually grants broadcast licenses for an eight-year term and the next round begins in 2028.

  • 43% rewrittenRisks Related to Our Businesses

    We expect to derive the majority of our revenues from advertising spending, which is affected by numerous factors. Declines in advertising revenues will adversely affect the profitability of our business

    Updated to note that subscription video on demand services have introduced ad-supported versions.

  • 36% rewrittenRisks Related to Our Businesses

    We have issued $600 million in preferred shares, the terms of which restrict us from undertaking certain actions while such preferred shares are outstanding

    Removed 2026 redemption start date, confirmed the 9% dividend rate, and disclosed $117 million in undeclared and unpaid cumulative dividends as of December 31, 2025.

  • 35% rewrittenRisks Related to Our Indebtedness

    We have substantial debt. The principal and interest payment obligations on such debt may restrict our future operations and impair our ability to meet our long-term obligations

    Updated debt figures to $392 million in senior unsecured debt, $1.3 billion in senior secured debt, and added a $450 million accounts receivable securitization facility with $361 million outstanding.

  • 22% rewrittenRisks Related to Our Businesses

    We will continue to face cybersecurity and similar risks, which could result in the disclosure of confidential information, disruption of operations, damage to our brands and reputation, legal exposure and financial losses

    Added that the advancement of artificial intelligence and machine learning may heighten cybersecurity risks by making attacks harder to detect and mitigate.

All 19 risk factors

Headings as the filing states them, in filing order.

Risks Related to Our Businesses

  1. 01We expect to derive the majority of our revenues from advertising spending, which is affected by numerous factors. Declines in advertising revenues will adversely affect the profitability of our business43% rewritten
  2. 02If we are unable to respond to any or all of these factors, our advertising revenues could decline and affect our profitability
  3. 03The loss of affiliation and carriage agreements or the costs of renewals could adversely affect our operating results
  4. 04As our retransmission consent agreements expire, there can be no assurance that we will be able to renew them at comparable or better rates. As a result, retransmission revenues could decrease and retransmission revenue growth could decline over time
  5. 05We make investments in television programming ("content") in advance of knowing whether that particular content will be popular enough for us to recoup our costs. Additionally, if costs to acquire this content increase or this content becomes more difficult to obtain, our operating results may be adversely affected
  6. 06Our television stations will continue to be subject to government regulations which, if revised, could adversely affect our operating results53% rewritten
  7. 07The loss of skilled employees or an inability to attract and retain skilled employees could adversely affect our business75% rewritten
  8. 08Acquisitions, joint ventures and strategic alliances involve risks and, if said risks are not managed effectively, our operating results could be negatively affected
  9. 09We may evaluate strategic acquisitions and investments in the future, and there are various risks associated with an investment strategy
  10. 10We will continue to face cybersecurity and similar risks, which could result in the disclosure of confidential information, disruption of operations, damage to our brands and reputation, legal exposure and financial losses22% rewritten
  11. 11We are subject to risks related to our use of Artificial Intelligence ("AI"), a new and emerging technology, which is in the early stages of commercial useNew
  12. 12We have issued $600 million in preferred shares, the terms of which restrict us from undertaking certain actions while such preferred shares are outstanding36% rewritten

Risks Related to the Ownership of Scripps Class A Common Shares

  1. 13Certain descendants of Edward W. Scripps own approximately 93% of Scripps' Common Voting shares and are signatories to the Scripps Family Agreement, which governs the transfer and voting of Common Voting shares held by them
  2. 14We have the ability to issue preferred stock, which could affect the rights of holders of our Class A Common shares
  3. 15The public price and trading volume of our Class A Common shares may be volatile

Risks Related to Our Indebtedness

  1. 16We have substantial debt. The principal and interest payment obligations on such debt may restrict our future operations and impair our ability to meet our long-term obligations35% rewritten
  2. 17The agreements governing our various debt obligations impose restrictions on our operations and limit our ability to undertake certain corporate actions
  3. 18The agreements governing the Company's debt require us to comply with certain financial ratios and covenants; our failure to do so will result in a default thereunder, which would have a material adverse effect on us
  4. 19Our variable rate indebtedness subjects us to interest rate risk, which could cause our annual debt service obligations to increase significantly

Other E.W. Scripps 10-Ks

  • FY2024 10-K risk factors
    20 risks

    Advertising revenue sensitivity and economic downturn risks dominate the company's risk profile. Heavy reliance on debt financing creates significant operational and financial constraints. Network affiliations and FCC regulations heavily impact television station operations.

    Filed Mar 12, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.