RTTNews | May 7, 2021 07:58AM EDT

07:58 Friday, May 7, 2021 (RTTNews.com) - The E.W. Scripps Company (SSP) reported a first quarter loss per share from continuing operations of $0.10 compared to a loss of $0.09, prior year. The company noted that its current-year quarter included items that decreased income from continuing operations by 36 cents per share.

First quarter operating revenues increased to $540.92 million from $414.22 million, prior year. Revenue from Local Media was $313 million, down 3.8% from prior year. Local Media core advertising outperformed expectations, up 2% on an adjusted-combined basis, driven by a rebound in the advertising market and strong sales execution.

On March 31, cash and cash equivalents totaled $538 million while total debt was $3.8 billion.

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