E.W. Scripps is pulling the plug on its ambitious national news venture, Scripps News, resulting in approximately 200 job cuts. The company announced the closure of its national news programming on Friday, September 27.
The decision marks the end of Scripps' attempt to integrate national news across its local stations and streaming platforms. Launched in early 2023, Scripps News had merged the company's Newsy outlet, local news operations, and its Washington bureau, creating a unified national news distribution model.
According to a company memo, the over-the-air Scripps News channel will cease operations on November 15. The news of the shutdown sent Scripps' stock soaring, rising 15% in midday trading Friday.
Although Scripps News' linear audience had grown over the past two years, CEO Adam Symson attributed the channel's discontinuation to the lack of revenue growth. In a memo to employees, Symson explained, "The prospects for the necessary revenue growth haven’t materialized, despite our sales teams’ efforts."
Symson also pointed to broader industry challenges, acknowledging that the advertising marketplace for national news has become increasingly difficult. "Many brands and agencies have decided that advertising around national news is just too risky for them given the polarized nature of this country," he said, while emphasizing his disagreement with that assessment. Despite winning recognition for objective reporting, Scripps News was unable to secure sufficient ad revenue to sustain the business. The company remains burdened by debt from its 2020 acquisition of Ion Media, with its stock down 72% from a 52-week high in January.
Symson indicated that Scripps News will continue to operate in a reduced capacity, focusing on streaming and digital platforms with a core team of around 50 staff members based in Washington, D.C.
Kate O'Brian, president of Scripps News, announced her departure from the company following the decision.
Scripps will now prioritize its local news operations, which continue to attract advertising support. Symson underscored the company's commitment to serving its local communities while maintaining national and international reporting connections.