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E.W. Scripps
is setting into motion what it calls a transformation plan for the broadcast station company — intended to generate growth for both earnings and its local TV stations.
The company announced Wednesday that it’s targeting growth of between $125 million and $150 million in annual enterprise earnings before interest, taxes, depreciation and amortization by 2028. In order to get there, Scripps will go through a number of cost savings and revenue growth measures that lean on technology, namely artificial intelligence, CNBC can exclusively report.
“This will essentially be a reorienting of the entire company ... with a much more agile and efficient cost structure,” CEO Adam Symson said in an interview with CNBC. “We have to act like a media startup. We’ve got to act like the company E.W. founded, because the marketplace cannot bear the legacy pace or legacy thinking.”
