E.W. Scripps announces a transformation plan focusing on growth for earnings and local TV stations. The company aims for $125-150 million in annual enterprise earnings by 2028, utilizing cost savings and revenue growth measures, including AI technology. Details will be revealed on Feb. 26, with a focus on enhancing newsroom efficiency. Staffing impacts are pending decisions. Scripps faces challenges amid industry-wide layoffs and declining stock value.

The broadcast industry, including E.W. Scripps, is navigating difficult times with the rise of streaming and regulatory changes. Scripps has rejected a merger with Sinclair but is pursuing cost-cutting initiatives and revenue diversification. Recent layoffs across media outlets highlight industry-wide challenges. Scripps plans to leverage AI technology for efficiency without replacing journalism jobs. Consolidation may provide a financial boost, but organic growth remains a priority for Scripps.

E.W. Scripps is implementing a transformation plan to drive growth and efficiency in the face of industry challenges. The company is focusing on cost savings, revenue growth, and technology integration to ensure long-term sustainability. Scripps’ CEO emphasizes the importance of staying agile and innovative to adapt to changing media landscapes.

Read more at CNBC: Scripps cost-cutting, AI integration is latest effort to grow earnings