1845 ET - E.W. Scripps reported fourth-quarter revenue of $728 million driven by record spending on political advertising, the company said Tuesday. In the prior-year period the company had revenue of $615.8 million. More than 80% of the $343 million in Local Media division presidential-election year political revenue came from six states: Arizona, Michigan, Montana, Ohio, Nevada and Wisconsin. That spending caused significant local core advertising displacement in those areas. Scripps said the results reinforced the value of local broadcast brands for campaigns and candidates in tightly contested swing states. Full-year political advertising totalled $363 million last year, the company added. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 18:45 ET (22:45 GMT)
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