The E.W. Scripps Company (NASDAQ:SSP) has raised its expectations for full-year 2026 midterm Local Media political advertising revenue to about $275 million, which is about 40% above its 2022 midterm election revenue.

On Tuesday, the company also completed 431 workforce reductions, bringing the total employees impacted in 2026 to about 850 – nearly 20% of its employee count from the beginning of the year. The reductions are part of Scripps’ company transformation plan to generate $125-$150 million of enterprise EBITDA growth by 2028. The impact of the transformation work will become most evident beginning in the fourth-quarter results, and the company expects to have implemented about $100 million in annual run-rate savings by year end.

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