Scripps CEO: It Has Been a Tough Couple of Months
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As many employees of Scripps continued to be confused by the company’s actions and the significant layoffs of friends and co-workers, the CEO is sending out yet another email.
One Scripps staffer tells FTVLive that this latest email sent by CEO Adam Symson sounds more like he is trying to save his job.
As people continue to lose their jobs, Symson says, “It has been a tough couple of months across Scripps as we announced more changes due to the company’s reorganization.”
No shit.
While Scripps has continued to call their “news initiative” a new way of presenting the news, this latest email seems to call it what it is: massive cost-cutting.
Here is the email obtained by FTVLive:
"Colleagues:
It has long been said that “the only constant in life is change.” This could not be truer in our industry. The pace of change in media and journalism has rapidly accelerated at break-neck speed over the course of my 30-year career. These changes are mainly due to the digital transformation and the fragmentation of choices consumers now have. Electronic media has grown to consume more of our time than ever before, but our choices have gone from just a few to seemingly infinite.
Today, linear television, considered traditional media, is still a massive draw, but it occupies a lot less than the time we spend with other media. According to eMarketer’s latest forecast, out of a total of more than 12 hours of media usage, Americans spend only four-and-a-half hours a day with linear TV, radio and print. This is down from five hours just two years ago, and it is forecasted to continue its slide. Given that you are reading this email on your phone or computer, consider the easy access to anything else you want to watch, read or listen to — just one click away.
All of this choice has been pretty great for the media consumer, but not for our business model. This year, Magna forecasts total media (combined streaming, digital, social, TV, publishing, radio, etc.) spending will grow about 5% — pretty good in these uncertain economic times. But the same forecasts expect national and local linear television – Scripps’ portion of the industry – to be down 7% and 5% respectively.
At Scripps
I’m sure you aren’t surprised by these trends. As media consumers, we embrace binge watching Netflix, mindlessly scrolling short videos on TikTok and getting enough news from the headlines on X (formerly Twitter). But within Scripps, senior leadership has the responsibility to steward the company forward by solving for the challenges we face, defending against the threats, and taking advantage of the disruption to create value and perpetuate – all at the very same time.
Our company isn’t confronting any immediate crisis, but it is our job to think far enough ahead and be proactive to ensure Scripps always has the margin for the mission — that our business remains viable so we can serve our communities and audiences. The factors I describe above have led us to reorganize so we can operate the company more efficiently and effectively.
In the face of so much competition for time and attention as well as the continued pressure on the local advertising business, the news initiative is focused on both improving our product and creating a more economically durable local journalism model. This is especially important for a company like ours, one that is committed to serving the American people and supporting a healthy democracy. Unfortunately, both of these strategies require us to make the painful job cuts that also have contributed to feelings of frustration and uncertainty.
While we must ensure our expenses are sized appropriately for today’s revenue picture, we’re simultaneously leaning into the opportunities we see that will keep Scripps the growth company it has always been.
· Scripps Sports is leveraging the unparalleled reach of our local and national brands to lead a broadcast renaissance in live sports.
· We’ve launched the new consumer product Tablo, bringing together over-the-air and connected TV experiences into an elegant, easy-to-use and affordable solution that consumers are already heaping praise on.
· Scripps News’ deeper integration into our local stations, both as a programming and news gathering partner, is raising the bar for the national journalism we deliver on our 24-hour channel and across our local media footprint.
· And finally, we remain committed to making Scripps an employer of choice in the media and journalism industries by funding career development and industry-leading EDI programs that support our employees’ desires for professional growth.
The past few months
It has been a tough couple of months across Scripps as we announced more changes due to the company’s reorganization. I want to thank you for your patience as we navigate these turbulent waters that are impacting the media industry. The goal of the restructure is to create a more agile and responsive organization, one that can effectively adapt and continue to deliver on our mission. And while, in the midst of the change, it can be hard to see past what is happening on any given day, we are making great strides to achieve this goal.
Take care.
Adam Symson (he/his)
President and CEO
