The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation’s largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Better than expected Q4. Total Q4 revenues of $560.3 million was better than our $550.9 million estimate, due to better than expected Core Local advertising and better Scripps Networks revenue. Adj. EBITDA of $86.4 million beat our $75.6 million estimate on lower segment expenses, particularly in its Networks segment.
Core advertising stronger than expected. Core Advertising revenue increased a strong 12.2% to $165.4 million, better than our estimate of $162.0 million. It is not surprising given the record amount of year earlier Political advertising that there would be a large level of Core Advertising displacement. But, we are pleased that Core Advertising reflected a strong rebound in the quarter, even better than what we were looking for.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
FORT WORTH, Texas, Feb. 24, 2026 (GLOBE NEWSWIRE) — Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW) (the “Company” or “SEGG Media”), the global sports, entertainment, and gaming group, today announced that Veloce Media Group (“Veloce”) co-founder and Quadrant CEO Jamie MacLaurin was appointed to the role of Senior Vice President of SEGG’s sports business. MacLaurin has been key in building one of the industry’s most dynamic motorsport businesses, spanning apparel, athletes, content and partnerships. In his new role, MacLaurin will not only continue to play a leading role in Veloce and Quadrant, he will also identify commercial opportunities for the benefit of SEGG Media’s sports business that compliment and enhance the Veloce and Quadrant business models.
As a result of completing the remaining tranches and additional share purchases, SEGG Media has now secured supermajority control of approximately 68% of Veloce’s issued and outstanding equity. To further streamline governance and align long-term strategic objectives, SEGG Media is extending a global offer to acquire the remaining minority equity interests in Veloce. The Company believes increased ownership will enhance operational efficiency, simplify the capital structure, and support growth initiatives across the combined platform. Veloce is expected to contribute $20 million in annual revenue, which SEGG will begin to recognize and report in Q1 of 2026, representing a material increase to SEGG’s consolidated top line.
Quadrant, which MacLaurin co-founded alongside 2025 Formula One World Champion Lando Norris, combines competitive racing with creator culture and lifestyle branding. Together, they have driven a successful diversification of the business model from gaming to content and lifestyle around motorsport, securing larger blue-chip partnerships with companies such as Electronic Arts (EA), VISA, LEGO and E.ON, as well as significantly increasing revenues. Veloce Media Group reported a 153% year-over-year increase in revenue between 2023 and 2024.
Under MacLaurin’s stewardship, Quadrant has grown exponentially. The brand now has an audience of nearly 7 million followers, directly contributing to a wider Veloce digital ecosystem that generates over 500 million monthly views and drives substantial yearly financial growth. Veloce acquired Quadrant in July 2025.
Robert Stubblefield, Chief Financial Officer and Interim Chief Executive Officer and President of SEGG Media, stated:“The acquisition of a supermajority interest in Veloce materially strengthens our revenue base and positions us to consolidate a high-growth international media platform. Appointing Jamie as SVP of SEGG’s sports business ensures continuity of leadership and operational execution as we focus on disciplined growth, capital efficiency, and scalable monetization across our business units.”
Mr. MacLaurin added: “Taking a leadership position at SEGG Media at such a transformative time is really exciting for me. The Company’s portfolio of digital assets gives us the ultimate platform to scale our vision globally, bridging the gap between creator-led culture and top-tier sports entertainment in completely innovative ways. With the Company’s access to capital markets and its global asset portfolio, we are positioned to accelerate Veloce’s growth trajectory and expand our commercial footprint.”
Prior to his ventures with Veloce and Quadrant, MacLaurin began his career as a sports agent, representing elite international athletes.
About SEGG Media
Sports Entertainment Gaming Global Corporation (Nasdaq: SEGG, LTRYW) is a global sports, entertainment, and gaming group operating a portfolio of digital and experiential assets including Sports.com, Concerts.com, TicketStub.com, Lottery.com, and Veloce Media Group. Through its expanding ecosystem of media, live experiences, gaming platforms, and creator-led content, the Company connects global audiences to the sports, events, and interactive entertainment they love. Focused on disciplined execution, ethical gaming, and scalable revenue generation, SEGG Media is building an integrated platform designed to drive sustainable growth and long-term shareholder value.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
This press release was published by a CLEAR® Verified individual.
For additional information, visit www.seggmediacorp.com or contact media relations at media@seggmediacorp.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Increases its stake in Veloce Media Group. SEGG Media increases its stake from 12.4% to over 51% in Veloce Media Group, a UK-based digital media and gaming company focused on esports, gaming content, and motorsport entertainment, valuing the company at $61 million. Veloce current management is expected to manage the business and the company has nominated Daniel Bailey, co-founder and CEO of Veloce, to the SEGG board.
Could own up to 75%. The purchase was for cash and stock, with the vast majority for stock. The company issued 2.52 million shares in the transaction, valuing the SEGG shares at $10 per share. SEGG extended the offer for a portion of the remaining interest in Veloce it does not own, and, as such, SEGG may control a larger percentage once the transaction is completed within the next few weeks.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
NEW YORK, Feb. 19, 2026 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):
Revenue of $22.5 million, up 9% year-over-year
Consolidated operating profit of $0.6 million
Non-GAAP consolidated operating profit of $0.9 million
Cash flow from operations of $1.5 million
Earnings per share (EPS) of $0.00
Travelzoo, the club for travel enthusiasts, today announced financial results for the fourth quarter ended December 31, 2025. Consolidated revenue was $22.5 million, up 9% from $20.7 million year-over-year. In constant currencies, revenue was $22.1 million, up 7% year-over-year. Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members, and membership fees.
In Q4, we continued to invest significantly in acquiring more Club Members when we saw that we can achieve a positive return on investment (ROI). Marketing costs were expensed immediately. Membership fees revenue is recognized ratably over the subscription period of 12 months. The effect is a sizable reduction in EPS. We refer to our investor presentation.
Net loss attributable to Travelzoo was $19,000 for Q4 2025, or $0.00 per share, compared with $0.26 per share in the prior-year period.
Non-GAAP operating profit was $0.9 million. Non-GAAP operating profit excludes amortization of intangibles ($2,000) and stock option expenses ($339,000). Please refer to “Non-GAAP Financial Measures” and the tabular reconciliation below.
“We will continue to leverage Travelzoo’s global reach, trusted brand, and strong relationships with top travel suppliers to negotiate more Club Offers for Club Members and add new benefits, such as our popular complimentary airport lounge access worldwide in case of a delayed flight,” said Holger Bartel, Travelzoo’s Global CEO. “Travelzoo members are affluent, active, and open to new experiences. We inspire travel enthusiasts to travel to places they never imagined they could. Travelzoo is the must-have membership for those who love to travel as much as we do.”
Travelzoo North America North America business segment revenue increased 6% year-over-year to $14.8 million. Operating profit for Q4 2025 was $1.5 million, or 10% of revenue, compared to operating profit of $4.6 million or 33% of revenue in the prior-year period.
Travelzoo Europe Europe business segment revenue increased 16% year-over-year to $6.3 million. Operating loss for Q4 2025 was $1 million, or 16% of revenue, compared to operating profit of $159,000, or 3% of revenue in the prior-year period. The reported operating loss occurred because we acquired more Club Members.
Jack’s Flight Club Jack’s Flight Club is a membership subscription service in which Travelzoo has a 60% ownership interest. Revenue increased 2% year-over-year to $1.3 million. The number of premium subscribers remained flat year-over-year. Jack’s Flight Club’s revenue from subscriptions is recognized ratably over the subscription period (quarterly, semi-annually, annually). Operating profit for Q4 2025 was $153,000, compared to operating profit of $150,000 in the prior-year period.
New Initiatives New Initiatives business segment revenue, which includes Licensing and Travelzoo META, was $16,000. Operating loss for Q4 2025 was $34,000.
In 2020, Travelzoo entered into royalty-bearing licensing agreements with local licensees for the exclusive use of Travelzoo’s brand, business model, and members in Australia, Japan, New Zealand, and Singapore. Under these arrangements, Travelzoo’s existing members in Australia, Japan, New Zealand, and Singapore will continue to be owned by Travelzoo as the licensor. Licensing revenue from the licensee in Australia was $8,000 for Q4 2025. Licensing revenue from the licensee in Japan was $7,000 for Q4 2025. Licensing revenue is expected to increase going forward.
Reach Travelzoo reaches 30 million travelers. This includes Jack’s Flight Club. Comparisons to prior periods are no longer meaningful due to strategic developments of the Travelzoo membership.
Income Taxes The reported income tax provision and reserves for Q4 2025 are $521,000. Travelzoo intends to utilize available net operating losses (NOLs) to largely offset its tax liability for Q4 2025.
Balance Sheet As of December 31, 2025, cash, cash equivalents and restricted cash were $10.8 million. Cash flow from operations was $1.5 million.
Deferred revenue increased because membership fees are earned over the subscription period. Membership fees revenue is recognized ratably over the subscription period.
Share Repurchase Program During Q4 2025, the Company didn’t repurchase shares of its outstanding common stock.
Looking Ahead For Q1 2026, we expect year-over-year revenue growth to continue. We expect continued revenue growth in subsequent quarters, as membership fees revenue is recognized ratably over the subscription period of 12 months, as we acquire new members, and as more Legacy Members become Club Members. Over time, we expect profitability to increase as recurring membership fees revenue will be recognized. In the short-term, fluctuations in reported net income are possible. We might see attractive opportunities to increase marketing. We expense marketing costs immediately.
In 2024, we introduced a membership fee for Travelzoo. Legacy Members, who joined prior to 2024, continue to receive certain travel offers. However, Club Offers and new benefits are only available to Club Members, who pay the membership fee. Therefore, we are seeing many Legacy Members become Club Members over time—in addition to new members who join.
Non-GAAP Financial Measures Management calculates non-GAAP operating income when evaluating the financial performance of the business. Calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: amortization of intangibles, stock option expenses, and severance-related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.
Conference Call Travelzoo will host a conference call to discuss fourth quarter 2025 results today at 11:00 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to
download the management presentation (PDF format) to be discussed in the conference call
access the webcast.
About Travelzoo We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers negotiated and rigorously vetted by our deal experts around the globe. Our relationships with thousands of top travel companies give us access to irresistible deals. Our club and its benefits are built around the lifestyle of a modern travel enthusiast.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Mexico City, Mexico, February 19, 2026 (GLOBE NEWSWIRE) – Codere Online Luxembourg, S.A. (Nasdaq: CDRO / CDROW) (the “Company” or “Codere Online”) a leading online gaming operator in Spain and Latin America, today announced the launch of its new iOS Poker application in Mexico, reinforcing the Company’s strategic objective to provide customers with access to a complete suite of online gaming products. As part of this multi‑product roadmap, both Bingo and the Android Poker app will form the next steps in expanding the Company’s offering in the country.
Developed in partnership with Playtech, one of the world’s most established gaming technology providers, the new iOS Poker app integrates directly with Playtech’s player‑vs‑player (P2P) Poker network. This allows Mexican users to compete in real time with players across multiple operators, ensuring deeper liquidity, a more dynamic environment and a superior competitive experience.
Codere Online continues to observe strong demand for Poker in Mexico, with more than 1,300 unique active users per month already engaging with the vertical across existing channels, a clear indicator of the product’s relevance and potential as mobile availability expands.
“Launching the Poker app for iOS in Mexico is a key step in delivering on our commitment to offer customers all major online gaming categories,” said Alberto Telias, Chief Marketing Officer at Codere Online. “Poker has quickly emerged as a highly attractive vertical for our users, and through our partnership with Playtech, we are bringing them a premium, high‑liquidity platform that elevates their experience.”
The new app offers a stable and intuitive interface with access to cash tables, multi‑table tournaments, Sit & Go formats, and fast‑paced modes. It also incorporates Codere Online’s robust responsible gaming tools to ensure that customers can enjoy Poker in a safe and controlled environment.
“This release reflects our strategy to broaden our product offering and enhance the user experience across all key gaming verticals,” said Ran Licht, Head of Product at Codere Online. “Playtech’s P2P network enables us to deliver a feature‑rich Poker environment connected to a broader operator ecosystem, and we look forward to expanding our product suite with additional verticals currently in development.”
“We are proud to partner with Codere Online and bring our P2P Poker network to their players in Mexico through their new iOS app,” commented Marat Koss, Playtech Chief Interactive Gaming Officer. “Codere Online players will now boast access to one of the most liquid and competitive poker networks in the entire industry.”
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
About Codere Group Codere Group is a multinational group dedicated to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).
Contacts:
Investors and Media Guillermo Lancha Director, Investor Relations and Communications Guillermo.Lancha@codereonline.com (+34)-628-928-152
Veloce Co-Founder and CEO To Join SEGG Board as Company Accelerates Revenue Growth Sports & Digital Media Platform
FORT WORTH, Texas, Feb. 18, 2026 (GLOBE NEWSWIRE) — Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW) (“SEGG Media” or the “Company”) today announced the nomination of Daniel Bailey, Co-Founder and Chief Executive Officer of Veloce Media Group, to the SEGG Media Board of Directors, in connection with the Company’s acquisition of Veloce.
Bailey’s appointment strengthens SEGG Media’s commercial focus, corporate governance and strategic oversight as the Company accelerates its plans to grow revenue in the global sports and digital media sector.
Strategic Board Appointment
Under Bailey’s leadership, Veloce became one of the fastest-growing platforms operating at the intersection of esports, motorsport, digital content, and gaming. Under his leadership, Veloce has built a diversified commercial ecosystem spanning championship-winning teams, athlete-led content brands, and long-term partnerships with global enterprises including McLaren, Visa, Microsoft, Hilton, LEGO, and others. Bailey was also instrumental in structuring Veloce’s recent acquisition of the rapidly growing content and lifestyle motorsport business Quadrant – co-founded by 2025 Formula One World Champion Lando Norris.
As a SEGG Board member, Bailey expects to contribute direct operating expertise in digital audience monetization, brand partnerships, international expansion, and scalable media execution, which are areas central to SEGG’s 2026 growth strategy.
Robert Stubblefield, CFO and Interim CEO and President of SEGG Media, said: “Dan’s appointment reflects our commitment to aligning operating leadership with governance. Veloce delivers scale, rapidly growing revenues and profits, and high-quality commercial partnerships. Bringing Dan onto the Board ensures strategic continuity and strengthens our ability to execute on integration and growth.”
Bailey commented:“This marks an important milestone for both Veloce and SEGG Media. Combining SEGG Media’s access to public markets and strong domain names with Veloce’s proven revenue model and global partnerships creates a powerful platform for accelerated expansion. I look forward to contributing at Board level as we scale the combined business.”
Acquisition Recap: Majority Interest in Veloce Media Group
As reported yesterday, SEGG Media acquired a majority interest in Veloce Media Group at an enterprise value of approximately $61 million (£45 million).
The transaction was structured as a combination of cash and SEGG Media stock at $10 per share.
Veloce reported approximately $17.5 million (£12.8 million) in revenue for its most recently reported fiscal year and currently generates over 500 million monthly digital views across its ecosystem.
Veloce’s acquisition provides SEGG Media with:
Immediate revenue scale and diversification
Established blue-chip commercial relationships
A high-engagement global digital audience
Expansion across esports, motorsport, gaming, and athlete-led media
Embedded leadership continuity through Board and management integration
The acquisition of Veloce lays the cornerstone for SEGG Media’s Sports business unit and materially enhances the Company’s ability to consolidate operating results, expand internationally, and accelerate top-line growth.
About SEGG Media Corporation SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
For additional information, visit www.seggmediacorp.com or contact media relations at media@seggmediacorp.com.
FORT WORTH, Texas, Feb. 17, 2026 (GLOBE NEWSWIRE) — Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW) (the “Company” or “SEGG Media”) today announces the successful completion of its previously disclosed acquisition of a controlling interest in Veloce Media Group (“Veloce”), a leading global sports, gaming, and digital media platform.
The acquisition, which values Veloce at approximately $61 million (£45 million), was completed through a blend of cash consideration and SEGG Media equity. The transaction is projected to contribute more than $20 million in additional annual revenue which SEGG Media will begin recognizing and report in the first quarter of this year.
This acquisition marks a significant inflection point in SEGG Media’s strategic transformation into a scaled, revenue-generating global sports, entertainment, and gaming group. Completing on the acquisition of Veloce today demonstrates the current management’s commitment to its shareholders and the wider investor public that the Company is performing on the growth strategy it recently disclosed.
Under the terms of the deal, consideration for the acquisition is a combination of cash and SEGG Media shares priced at $10 per share, highlights the shared belief by SEGG Media’s Board and Veloce’s selling shareholders that SEGG Media’s current share price is grossly undervalued. The structure of the transaction aligns all stakeholders around value creation and sustainable value creation.
Revenue Scale and Valuation Context
Based on reportable incremental revenue of more than $20 million annually from Veloce alone, SEGG Media’s pro forma revenue profile meaningfully grows. Recent market capitalization levels are far below the implied revenue multiple, which should be considered along with the value of the Company’s four domain names and other assets.
Management believes the transaction substantially improves the Company’s revenue-to-market-cap ratio, positioning SEGG Media more comparably with scaled digital media and sports entertainment platforms that trade at materially higher revenue multiples. As Veloce’s operating results are consolidated and reflected in reported financials, the Company will leverage improved scale and operating metrics to provide investors with a clearer framework for valuation assessment.
Daniel Bailey, CEO of Veloce Media Group:“I am delighted to work closely with the wider leadership team to help deliver the next phase of growth. Joining SEGG Media at this pivotal moment is an exciting step for Veloce and our global community. Together, we are building a scaled, future-focused platform with significant opportunity to accelerate growth and deliver long-term value.”
Robert Stubblefield, CFO and Interim CEO and President of SEGG Media: “Closing the Veloce acquisition on schedule is a paradigm shift for SEGG Media. This acquisition strengthens our top line revenue, expands our global footprint, and enhances our ability to drive measurable financial performance for shareholders.”
Strategic Implications for Shareholders
Veloce’s combined platform immediately positions SEGG Media with:
Immediate revenue scale and diversification
Consolidation of operating results from a global digital media asset
Expanded international audience reach
Cross-platform monetization opportunities across Sports.com, Concerts.com, and related assets
A Strengthened balance sheet with increases to assets and equity, and enhanced liquidity.
Management’s immediate focus is on integration execution, maintaining operational discipline, and leveraging revenue scale for continued strong financial performance.
Further updates on integration milestones and strategic operating priorities will be provided in the coming weeks as integration milestones are achieved.
About SEGG Media Corporation SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. The words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
For additional information, visit http://www.seggmedia.com/ or contact media relations at media@seggmediacorp.com.
Transaction Closing Date Set for Next Tuesday, February 17
FORT WORTH, Texas, Feb. 13, 2026 (GLOBE NEWSWIRE) — Sports Entertainment Gaming Global Corporation (NASDAQ: SEGG, LTRYW) (the “Company” or “SEGG Media”), the global sports, entertainment, and gaming group, today announced that it has agreed to binding terms to acquire at least a majority interest in Veloce Media Group (“Veloce”), one of the fastest-growing and market leading platforms operating at the intersection of sport, gaming and digital media.
The completion date for consummating the acquisition is set for Tuesday, February 17, 2026, which will result in SEGG Media acquiring a controlling interest of Veloce, enabling consolidation for accounting and reporting purposes and direct control. The transaction values Veloce at approximately $61 million (£45 million) and is projected to contribute in excess of $20 million in additional annual revenue which will begin to be reported in the first quarter of 2026. SEGG Media’s management views Veloce as a foundational international platform that aligns with the Company’s strategy of acquiring cash-generative, media-driven sports assets capable of scaling across sponsorship, content, and commerce.
The acquisition of Veloce will be completed through a blend of cash consideration and SEGG Media common shares priced at $10 per share. The Veloce acquisition is one that the Company has been hyper-focused on for months and completing the transaction is a paradigm shift for SEGG Media and its shareholders. The targeted acquisition of Veloce by SEGG Media signals the Company’s rapid evolution into a diversified global sports and media group.
Veloce’s recent acquisition of Quadrant, co-founded by the current Formula 1 Champion Lando Norris, is a significant and rapidly growing gaming and lifestyle company. With a portfolio of blue-chip commercial partners and direct revenue generation in apparel and product sales the Quadrant business will continue to play a key role in the revenue growth of Veloce and SEGG Media.
Darryl Eales, Veloce Director and investor and formerly CEO of Lloyd’s Development Capital, commented:“I’m truly excited by the potential of the Veloce and SEGG partnership. High-quality, driven, and aligned management teams are crucial for the delivery of strong shareholder value creation. The combined leadership creates a powerful platform for significant and rapid growth, underpinned by both SEGG’s exciting brands and well-founded sports and entertainment strategy and Veloce’s multi-stream revenue platform and strong financial performance.
“Both the Veloce team and the SEGG Board have remained relentless in executing the transaction – even as SEGG completed the final stages of its turnaround – driven by a combined belief in the significant scale of the opportunity that exists post-completion. With the combined value of Veloce, SEGG, and additional pipeline acquisitions, receiving consideration in $10 SEGG stock represents significant upside for Veloce shareholders.”
Daniel Bailey, CEO of Veloce Media Group,said: “This acquisition represents a defining moment not only for Veloce, but for SEGG Media as a group. From the outset, it was clear that our businesses share a common vision for building a global, digitally led sports media platform with ambition and long-term commercial strength.
“The combination of SEGG Media’s access to public markets and strategic focus with Veloce’s brands, partnerships and proven revenue model creates a powerful foundation for accelerated expansion.”
Veloce’s ecosystem spans championship-winning esports teams, athlete-led content platforms, sustainable motorsport series, and a commercial portfolio supported by global brands including McLaren, Revolut, VISA, LEGO, Microsoft, Hilton, E.ON, and Thrustmaster.
Driving over 500 million views per month, Veloce brings with it rapidly growing and diversified revenue streams across digital content, esports, motorsport and brand partnerships, reporting $17.5 million (£12.8 million) in revenue for its latest reported financial period.
Since the start of 2026, SEGG Media’s strategy has been firmly focused on executing fundamental acquisitions designed to accelerate its growth by establishing a scalable and profitable revenue-generating platform. The integration of Veloce’s business and revenue positions SEGG Media to capitalize on accelerating global demand across sport, media, gaming and digital entertainment, with a clear focus on creating genuine value to the Company driven by consistently improving return on invested capital (ROIC) and sustaining high-quality revenue growth with higher profit margins.
Robert Stubblefield, CFO and Interim CEO and President of SEGG Media, said:“The acquisition of Veloce Media Group is a pivotal acquisition for the Company and a clear validation of the strategic direction we set at the start of 2026. Veloce delivers scale, rapidly growing revenues and high-quality commercial partnerships that materially strengthen our profile.
“This acquisition of Veloce and its subsidiary Quadrant springboards SEGG Media to immediately unlocking significant revenue for the Company, which creates long-term shareholder value especially as we integrate a best-in-class digital sports and media platform into the Company. Simply put, it’s a gamechanger!”
Closing is subject to final legal review, completion of definitive documentation, and customary closing conditions.
About SEGG Media Corporation SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group operating a portfolio of digital assets including Sports.com, Concerts.com and Lottery.com. Focused on immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.
Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble Virtual Conference. On February 4th, Heidy Chow, CFO, and Peter Lin, Senior Manager FP&A, presented at the Noble Virtual Conference to the investment community. The presentation highlighted strong engagement on its core franchise and recent releases, a busy 2026 release roadmap, and the advancement of its digital assets strategy. The full presentation is available here.
Strong ARK Engagement. The ARK franchise remains a key driver of engagement and monetization for the company, generating nearly $1 billion in revenue, more than 100 million installs, and 4.2 billion gameplay hours since its release. Management noted that the ARK franchise benefits from a highly active core audience, with 42% of players averaging 380 hours of total gameplay. Furthermore, management noted a 55% paid downloadable content (DLC) conversion rate for ARK, with new content releases driving spikes in player activity.
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Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Softer than expected revenue and adj. EBITDA. Fiscal Q2 revenue of $369.0 million was below our $402.1 million estimate and down from $394.0 million a year earlier. The largest revenue variance appeared to be attributable to the lack of arcade inventory in its gaming division due to the bankruptcy of one of its vendors. Adj. EBITDA of $18.1 million was below our $25.3 million estimate, as a result of higher than expected costs in its licensing business.
Maintains strong margin dynamics. The company maintained strong gross margins at 12.8%, a 210 basis point improvement year over year, but down from our 16.2% estimate. The gross margin was surprisingly solid when considering the significant revenue shortfall. Margins benefited from favorable product mix, structural improvement and cost discipline. In addition, adj. EBITDA margins improved year over year as well (5.0% vs 4.1%).
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Adjusted EBITDA up 15% to $18.5M; Gross Margin expands 210 basis points to 12.8%
Net Income increased to $9.4M, or $0.18 per share, compared to $7.1M, or $0.14 per share, in Q2 FY25
Strengthened balance sheet, ending quarter with $74.1M in working capital
PLANTATION, Fla., Feb. 12, 2026 (GLOBE NEWSWIRE) — Alliance Entertainment Holding Corporation (Nasdaq: AENT), a premier distributor, logistics provider, and omnichannel fulfillment partner to the entertainment and pop culture collectibles industry, supplying more than 340,000 unique SKUs across music, video, video games, licensed merchandise, and exclusive collectibles to over 35,000 retail and e-commerce storefronts, reported its financial and operational results for its fiscal second quarter ended December 31, 2025.
Second Quarter FY 2026 Highlights
Sustained Profitability and Margin Execution: Net income increased year-over-year to approximately $9.4 million, or $0.18 per share, up from $7.1 million, or $0.14 per share in Q2 FY25, reflecting continued execution against the Company’s established profitability baseline. Adjusted EBITDA was approximately $18.5 million, an increase of $2.4 million year-over-year. Adjusted EBITDA margin was approximately 5%, compared to 4.1% in Q2 FY25, a 200 basis point improvement over the margin profile achieved in the trailing 12-months ended September 30, 2025. Gross margin expanded 210 basis points year-over-year to 12.8%, driven by favorable mix and higher-value products. A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this release.
Launch of Authentication and Digital Product Identity Platform: On December 31, 2025, the Company completed the acquisition of Endstate, establishing Endstate Authentic, a dedicated NFC-enabled authentication and digital product identity platform. The platform expands Alliance’s role beyond physical product distribution by enabling authenticated ownership, provenance, and verified resale across premium physical goods, supporting the full lifecycle of collectible products from initial sale through secondary markets. Designed as a scalable, enterprise-grade platform, Endstate Authentic is intended to support both Alliance’s internal initiatives and third-party brands, licensors, and ecosystem partners, adding a technology-enabled layer that enhances trust, differentiation, and long-term value creation across the collectibles and premium goods market. Subsequent to quarter end, Alliance launched Alliance Authentic™, a premium vinyl collectibles platform that represents the first commercial application of these capabilities within the Company’s portfolio.
Strength in Physical Media: Physical movie revenue increased 33% year-over-year to $114 million, benefiting from sustained demand for premium formats such as 4K Ultra HD and collectible SteelBook editions, as well as the Company’s exclusive distribution partnerships. Alliance was named the exclusive physical media distribution partner for Amazon MGM Studios in North America, effective January 1, 2026, further strengthening its leadership in premium home entertainment and collector-focused releases. Vinyl record sales increased 3% year-over-year, supported by continued consumer demand for collectible and limited-edition releases. Compact disc (CD) sales increased approximately 5% year-over-year, supported by higher unit volumes and the Company’s first full quarter as the exclusive distributor for Virgin Music Group through its AMPED Distribution division.
Collectibles Growth and Portfolio Expansion: Collectibles revenue increased 31% year-over-year, driven by higher average selling prices and a continued shift toward premium, licensed products. Results benefited from expanded sourcing activity, new vendor additions, and the continued integration of the Company’s owned brand, Handmade by Robots™.
Operational Discipline and Infrastructure Investment: Operating income increased year-over-year to $17.3 million, up from $14.8 million in Q2 FY25, reflecting continued operating leverage and disciplined cost management. Total operating expenses rose modestly, driven by targeted investments in technology, personnel, and infrastructure to support exclusive content partnerships and long-term scalability. Distribution and fulfillment costs were 3.3% of net revenue, consistent with 3.2% in Q2 FY25, supported by warehouse automation initiatives and ongoing efficiencies from prior facility consolidation.
Balance Sheet and Liquidity Strength: The Company ended the quarter with working capital of approximately $74.1 million, reflecting disciplined management of inventory and payables. During the quarter, the Company refinanced its asset-based lending agreement with a new $120 million senior secured credit facility from Bank of America, enhancing liquidity and financial flexibility, with availability at quarter end of $35 million.
“Our second quarter results reflect continued execution against the profitability baseline we established last year,” said Jeff Walker, Chief Executive Officer of Alliance Entertainment. “For the six months ended December 31, 2025, earnings per share increased to $0.28, up from $0.15 in the prior-year period, demonstrating the earnings leverage created by our structurally improved margin profile.
“Physical media continues to perform as a collectible category, supported by exclusive partnerships and strong consumer demand for premium formats,” Walker added. “With the launch of Alliance Authentic™, we’re extending that strategy into premium vinyl collectibles by introducing The Ultimate Vinyl Collectible™, enabling fans and collectors to Own a Piece of Vinyl History™ through authentic, certified, and individually numbered releases sourced directly from rights holders. This initiative builds on our strengths in physical media and reinforces our focus on high-value, enthusiast-driven products. With a structurally stronger margin profile and a growing pipeline of exclusive content, we believe Alliance is well positioned to deliver durable profitability and long-term value for our shareholders.”
Amanda Gnecco, Chief Financial Officer of Alliance Entertainment, said, “Net income in the second quarter increased 33% year-over-year to $9.4 million, and adjusted EBITDA margin improved 92 basis points year-over-year to 5.0%, reflecting the durability of our cost structure and the benefits of our improving product mix.
“During the quarter, we strengthened our balance sheet by refinancing our credit facility with Bank of America, reducing borrowing costs by up to 250 basis points and extending the maturity to five years. We ended the quarter with just over $74 million in working capital and enhanced liquidity, providing greater financial flexibility to support premium inventory, exclusive partnerships, and strategic initiatives while maintaining disciplined capital management,” continued Gnecco.
“As we look ahead, we’re building on a much stronger foundation,” Walker continued. “The acquisition of Endstate and the launch of Endstate Authentic mark an important step in expanding Alliance beyond distribution into authenticated collectibles, digital product identity, and recurring platform-driven revenue. This technology allows us to extend the value of physical products across their entire lifecycle-from initial sale through authenticated resale-while strengthening trust, provenance, and margins across our ecosystem. With the launch of Alliance Authentic™, we are also creating new opportunities in the collectible vinyl market by applying authentication, scarcity, and provenance to products we already source and distribute at scale.
“Separately, our new exclusive partnership with Amazon MGM Studios strengthens our leadership in premium physical home entertainment,” Walker added. “By combining our scale, operational execution, and exclusive studio relationships, we continue to elevate physical movies as collectible formats for fans and enthusiasts. Together, these initiatives reflect a disciplined approach to growth that leverages our scale, exclusivity, and financial flexibility to create long-term shareholder value.”
Second Quarter FY 2026 Financial Results
Net revenues for the fiscal second quarter ended December 31, 2025, were $369 million, compared to $394 million in the same period of fiscal 2025.
Gross profit for the fiscal second quarter ended December 31, 2025, was $47.1 million, compared to $42.3 million in the same period of fiscal 2025.
Gross margin for the fiscal second quarter ended December 31, 2025, was 12.8%, up 210 basis points from 10.7% in the same period of fiscal 2025.
Net income for the fiscal second quarter ended December 31, 2025, was $9.4 million, or $0.18 per diluted share, compared to net income of $7.1 million, or $0.14 per diluted share for the same period of fiscal 2025.
Adjusted EBITDA for the fiscal second quarter ended December 31, 2025, was $18.5 million, compared to Adjusted EBITDA of $16.1 million for the same period of fiscal 2025.
Six-Months FY 2026 Financial Results
Net revenues for the six months ended December 31, 2025, were $623 million, compared to $623 million in the same period of fiscal 2025.
Gross profit for the six months ended December 31, 2025, was $84.3 million, compared to $67.8 million in the same period of fiscal 2025.
Gross margin for the six months ended December 31, 2025, was 13.5%, up 260 basis points from 10.9% in the same period of fiscal 2025.
Net income for the six months ended December 31, 2025, was $14.3 million, or $0.28 per diluted share, compared to net income of $7.5 million, or $0.15 per diluted share for the same period of fiscal 2025.
Adjusted EBITDA for the six months ended December 31, 2025, was $30.7 million, compared to Adjusted EBITDA of $19.5 million for the same period of fiscal 2025.
Conference Call
Alliance Entertainment Chief Executive Officer Jeff Walker, Chief Financial Officer Amanda Gnecco, and Executive Chairman Bruce Ogilvie will host the conference call, which will be followed by a question-and-answer session. A presentation will accompany the call and can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.
To access the call, please use the following information:
Date:
Thursday, February 12, 2026
Time:
4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time
Toll-free dial-in number:
1-877-407-0784
International dial-in number:
1-201-689-8560
Conference ID:
13758224
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact RedChip Companies at 1-407-644-4256.
A telephone replay of the call will be available approximately three hours after the call concludes and can be accessed through March 12, 2026, using the following information:
Toll-free replay number:
1-844-512-2921
International replay number:
1-412-317-6671
Replay ID:
13758224
About Alliance Entertainment
Alliance Entertainment (NASDAQ: AENT) is a premier distributor and fulfillment partner for the entertainment and pop culture collectibles industry. With more than 340,000 unique in-stock SKUs – including over 57,300 exclusive titles across compact discs, vinyl LPs, DVDs, Blu-rays, and video games – Alliance offers the largest selection of physical media in the market. Our vast catalog also includes licensed merchandise, toys, retro gaming products, and collectibles, serving over 35,000 retail locations and powering e-commerce fulfillment for leading retailers. Alliance also owns and operates proprietary collectibles brands, including Handmade by Robots™, a stylized vinyl figure line featuring licensed characters from leading entertainment franchises, and Alliance Authentic™, a premium platform for authentic, certified, and individually numbered entertainment collectibles. In addition, Alliance operates Endstate Authentic, a dedicated NFC-enabled authentication and digital product identity platform supporting authenticated collectibles, resale, and brand protection. Leveraging decades of operational expertise, exclusive sourcing relationships, and a capital-light, scalable infrastructure, Alliance connects fans and collectors to the products, franchises, and experiences they value across formats and generations. For more information, visit www.aent.com.
Forward Looking Statements
Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether identified in this Press Release, and on the current expectations of Alliance’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance. These forward-looking statements are subject to a number of risks and uncertainties, including risks relating to the anticipated growth rates and market opportunities; changes in applicable laws or regulations; the ability of Alliance to execute its business model, including market acceptance of its systems and related services; Alliance’s reliance on a concentration of suppliers for its products and services; increases in Alliance’s costs, disruption of supply, or shortage of products and materials; Alliance’s dependence on a concentration of customers, and failure to add new customers or expand sales to Alliance’s existing customers; increased Alliance inventory and risk of obsolescence; Alliance’s significant amount of indebtedness; our ability to refinance our existing indebtedness; our ability to continue as a going concern absent access to sources of liquidity; risks that a breach of the revolving credit facility could result in the lender declaring a default and that the full outstanding amount under the revolving credit facility could be immediately due in full, which would have severe adverse consequences for the Company; known or future litigation and regulatory enforcement risks, including the diversion of time and attention and the additional costs and demands on Alliance’s resources; Alliance’s business being adversely affected by increased inflation, uncertainty regarding tariffs, higher interest rates and other adverse economic, business, and/or competitive factors; geopolitical risk and changes in applicable laws or regulations; as well as our financial condition and results of operations; substantial regulations, which are evolving, and unfavorable changes or failure by Alliance to comply with these regulations; product liability claims, which could harm Alliance’s financial condition and liquidity if Alliance is not able to successfully defend or insure against such claims; availability of additional capital to support business growth; and the inability of Alliance to develop and maintain effective internal controls.
For investor inquiries, please contact:
Dave Gentry RedChip Companies, Inc. 1-800-REDCHIP (733-2447) 1-407-644-4256 AENT@redchip.com
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation’s largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Transformation plan announced. E.W. Scripps launched an enterprise-wide restructuring targeting $125 million to $150 million of incremental annualized EBITDA by 2028, driven by structural cost actions and revenue yield initiatives leveraging AI, automation, and operational realignment. Management emphasized a shift toward a leaner, startup-like operating model while reaffirming investment in journalism and sales capabilities, setting the framework for detailed execution priorities discussed below.
Execution framework. The company identified major cost buckets across administrative functions, technology consolidation, and process redesign, with modeling work underway to refine savings cadence. Management expects months of operational review before final staffing decisions, maintaining a baseline EBITDA framework near $450 million even under softer demand conditions. Beyond expense controls, leadership highlighted opportunities to improve monetization, which informs the evolving growth strategy outlined next.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble Virtual Conference. On February 4th, Bill Wilson, CEO, Stu Rosenstein, co-founder and CFO, and Claire Yenicay, EVP of IR, participated in a fireside chat at the Noble Virtual Conference. The discussion focused on the company’s successful evolution into a digital-first local media powerhouse, sustainable financial model and improving revenue trends. A replay of the presentation can be found here.
Favorable Digital Advertising Outlook. Digital advertising trends are stabilizing, with management noting sequential page view growth from December to January, which is expected to continue in February. While remnant inventory remains a near-term headwind, underlying growth in owned-and-operated sales and core programmatic activity remains strong. Management expects digital advertising to return to mid-single-digit growth in 2026, with a high-single-digit CAGR anticipated over the next five years.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
