Scripps News To Cut More Than 200 Jobs, Scale Back National News Programming Amid “Difficult” Linear TV Advertising Market [Yahoo! Finance]
Paramount Global - Class A (PARAA)
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Source: Yahoo! Finance
In a memo to employees, CEO Adam Symson wrote that Scripps News will no longer be broadcast over the air, but will remain on streaming and digital platforms with reporting from the field. A core reporting team will continue to be based in Washington, D.C. to serve local stations. More from Deadline Symson wrote, “Over the last two years, Scripps News' live anchored coverage and documentary programming have grown its linear television audience, but the prospects for the necessary revenue growth haven't materialized, despite our sales teams' efforts. Scripps News' current financial position is what has led me to the decision to scale back our approach to 24-hour news and over-the-air coverage.” He wrote that about 50 Scripps News staff members will remain to “report for our local news audiences and produce the streaming and digital content, all under the Scripps News brand.” “We will prioritize field reporting, our strong political coverage, investigative reporting and our digi
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PARAA
Earnings
- 8/8/24 - Beat
PARAA
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- 8/27/24 - Form 4
- 8/27/24 - Form 425
- 8/27/24 - Form 8-K
- PARAA's page on the SEC website