Brian Lawlor, president of Scripps Sports, predicted Ion would agree to a long-term broadcast rights extension with the WNBA – even if the upstart league increases its fees after a mega-deal with other broadcasters.

Ion, which is owned by Scripps, has acquired the rights to the WNBA in 2023 on a discounted three-year deal; the league’s viewership has exploded recently, even more so after welcoming a popular 2024 draft class headlined by Caitlin Clark and Angel Reese. That, coupled with the fact that women’s basketball is getting even more attention since the U.S. team reached Sunday’s gold medal game at the Paris Olympics, is a welcome development for a company that has struggled elsewhere of late.

Shares of EW Scripps Company fell more than 15% in the first four hours of trading Friday after second-quarter financial results released Thursday missed analyst estimates and reported a 1.6% decline in revenue from the same quarter last year. The company, which hopes to generate record revenue from political advertising, ended the quarter with cash and cash equivalents of $26.7 million and total debt of $2.9 billion.

Under his current contract, Scripps pays the WNBA $13 million annually, with Ion expected to play in up to 25 games annually through 2025.

“I think we’re a really important partner for the WNBA and the visibility of the league,” Lawlor said in a video call on Friday. “Based on every conversation we’ve had (with the WNBA), they really value the Friday night franchise, the studio shows, our talent and the way we tell stories.

“So we believe we’re really valuable. The reality is that the rights are only more expensive because people are interested in the games, which means we’ve been able to monetize them on the side. We fully expect to be partners… for a long time.”

In a statement accompanying this week’s otherwise disappointing second-quarter operating results, Scripps called Ion’s broadcast rights packages for women’s sports (the company also airs NWSL games) a “differentiator” in advertising sales.

Ion is available for free on traditional television and streaming. Because it doesn’t charge cable providers retransmission fees to broadcast games, its business model relies heavily on reaching as many fans as possible to offset costs through advertising revenue. So Ion is desperate for advertisers to pay more to reflect the growth of women’s sport.

The WNBA’s next big national TV deal, negotiated by NBA leadership to the dismay of the WNBPA, is a clear sign of its growth. The agreement with NBC, ESPN and Amazon will bring the professional basketball league 500 percent more revenue than before.

Scripps continues to have separate talks about its own package to broadcast some games after 2025 that NBC, ESPN and Amazon do not show.

The positive economic climate for women’s sports will likely force Scripps to increase its spending to expand Ion’s relationship with the WNBA.

In a sign of intent that underscores Lawlor’s optimism about a contract extension, Scripps Sports will open a new studio in Atlanta on August 16 as part of preparations for the WNBA’s final stretch in 2024.

“The interest in the playoffs, the second half of our season, is going to be great,” Lawlor said. “That sets the tone for continued growth next season. … If you increase your ratings by 100%, that means you can significantly increase your revenue.”