Scripps News will lay off 200 as it shutters broadcast news channel
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E.W. Scripps Co. signage at the NYSE in 2016. Photo: Michael Nagle/Bloomberg via Getty Images
Scripps News is winding down its 24/7 national, over-the-air broadcast news channel, E.W. Scripps CEO Adam Symson told employees in a note Friday. The shift will result in 200 layoffs across Scripps News.
Why it matters: Symson blamed the cuts on financial challenges, noting "the prospects for the necessary revenue growth haven't materialized," since the company launched the channel.
- "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 said.
Zoom in: In a note, Symson said the 24/7 over-the-air broadcast news channel will be winding down by November 15.
- Scripps News' live coverage will continue streaming and digital platforms on weekdays.
- The unit's core reporting team that's based primarily in Washington will serve Scripps' local stations' news operations.
Catch up quick: Scripps launched Newsy, a free 24/7 broadcast news network, three years ago and later rebranded it to Scripps News.
- The unit has won multiple awards since, including two national news Emmy Awards, two National Edward R. Murrow Awards, a Peabody Award, a New York Press Club Award and many others.
Zoom out: Local broadcast stations typically benefit from election advertising every two years. But national broadcast stations don't always get the same level of political advertising commitments, and the linear ad market for traditional TV networks has been in steady decline for years.
- "Amidst an already difficult linear television advertising marketplace, many brands and agencies have decided that advertising around national news is just too risky for them given the polarized nature of this country, no matter the accolades and credentials a news organization like Scripps receives for its objectivity," Symson said.
- "I vehemently disagree, but it is hurting Scripps News, along with every other national linear and digital news outlet."
What's next: Following the layoffs, roughly 50 Scripps News staffers will remain with the company to contribute coverage for the firm's local broadcast stations across the country.
- Symson said Scipps will prioritize field reporting, political coverage, investigative reporting and digital and social media.
Go deeper: Media cuts persist amid ad market slowdown, AI fears
