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The E.W. Scripps Company (NASDAQ: SSP) is a diversified media enterprise with significant holdings in local and national media brands. With a portfolio encompassing 33 television stations in 24 markets and 34 radio stations across eight markets, Scripps is one of the largest independent TV station owners in the United States, reaching nearly 20% of U.S. households.
Founded in 1878, the company has stayed true to its longstanding motto, “Give light and the people will find their own way.” Today, Scripps remains committed to delivering quality journalism and valuable information across various platforms including digital media, television, and radio. Its digital offerings include podcast industry leader Midroll Media, over-the-top video news service Newsy, and weather app developer Weathersphere.
Scripps also produces television shows such as The List and The Now, operates an award-winning investigative newsroom in Washington, D.C., and is the long-time steward of the Scripps National Spelling Bee, the nation’s largest and most successful educational program.
Recent achievements include a solid performance in the first quarter of 2024, delivering $561 million in revenue and a strategic focus on debt reduction and financial stability. Despite a challenging 2023, the company saw positive trends in both Local Media and Scripps Networks segments, with significant growth in connected TV revenue. The company also boasts several recent accolades, including winning multiple National Headliner Awards and Peabody Awards for its investigative journalism.
Scripps' diversified brand portfolio includes national news outlets like Scripps News and Court TV, and popular entertainment networks like ION, Bounce, Defy TV, Grit, ION Mystery, and Laff. Notably, Scripps is the nation's largest holder of broadcast spectrum, providing a robust platform for future growth in the media landscape.
In addition to its media operations, Scripps has engaged in strategic partnerships such as airing National Women’s Soccer League matches on ION and receiving significant sponsorship from State Farm. The company is also exploring a sale of its Bounce TV network due to high strategic buyer interest, suggesting potential for further growth and consolidation in its core areas of focus.
Financially, Scripps ended 2023 with $35.3 million in cash and equivalents and a total debt of $3 billion. The company is committed to deleveraging its balance sheet and maximizing the paydown of traditional bank debt, with sufficient liquidity to meet current obligations.
Scripps News (NASDAQ: SSP) is launching a new streaming programming lineup on November 18, following its exit from over-the-air broadcasting on November 15. The network will provide live weekday programming from 7 a.m. to 6 p.m., featuring shows like 'The National Report,' 'Morning Rush,' and 'On the Scene.' Under the leadership of VP Matt Simon, Scripps News has seen a 44% year-over-year growth in streaming viewership. The network will debut special programs including 'In the Shadows with Jason Bellini' and maintain distribution across major streaming platforms including Roku, Fire TV, Apple TV, and various others.
The E.W. Scripps Company (NASDAQ: SSP) has announced the promotion of Teresa Morgan to vice president and general manager for WFTS, their ABC affiliate in Tampa, effective Jan. 1. Morgan, who has been with WFTS since 2003, currently serves as station manager and senior director of sales. She has progressed through various roles at the station, including senior account executive, local sales manager, and director of sales. The company will begin searching for a new director of sales immediately.
The National Women's Soccer League's first season on ION reached 20.5 million total unique viewers, with 13.5 million unique to ION. The network broadcast 50 matches and 53 studio shows, delivering over 130 hours of content. ION achieved the highest female viewership percentage (57% of P25-54) among all networks and attracted 50% of all NWSL viewers. Matches averaged 145,000 viewers per game, peaking at 234,000. The network generated over 3.6 million viewing hours across FAST channels and secured multiple advertising partnerships, including Capital One as presenting sponsor.
The E.W. Scripps Company (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results conference call to 10 a.m. Eastern time on November 4, 2024, due to a technical outage affecting their conference line provider's systems. The company will provide a live webcast accessible through their investor relations website. Investors can join via telephone by dialing (877) 848-7030 with access code 3725517. The call will be available on a listen-only basis for the public, with a replay accessible online after approximately four hours.
E.W. Scripps reported record Q3 2024 revenue of $646 million, up 14% year-over-year, driven by strong political advertising. Income attributable to shareholders was $33 million or $0.37 per share. The company expects full-year political advertising revenue to reach at least $340 million, exceeding previous guidance of $270-$290 million. During Q3, Scripps paid down $115 million of debt, reducing leverage ratio from 6.0x to 5.1x. The Local Media segment revenue grew 26% to $446 million, while Scripps Networks revenue declined 6.4% to $202 million.
E.W. Scripps (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results release to Monday, November 4, before markets open, moving it forward from the previously scheduled date of November 8. The company will host a conference call with senior management at 9 a.m. Eastern time on the same day.
Investors can access the live webcast through the company's investor relations website, while telephone access requires the access code 739969. A replay will be available from 12:30 p.m. Eastern time November 4 until midnight December 4, with both domestic and international dial-in options.
Court TV's new series 'Interview With a Killer' premiered on October 20, 2024, achieving record-breaking viewership as the network's most-watched original series debut. The show saw a 50% increase in Persons 2+ and 60% increase in P25-54 viewers, surpassing the previous record held by 'Someone They Knew With Tamron Hall'. Hosted by award-winning investigative reporter David Scott, the series features face-to-face interviews with five convicted murderers inside high-security prisons. New episodes air Sunday nights at 8 p.m., covering cases including honor killings, catfishing murders, and teenage crimes.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Matt Simon as vice president of Scripps News. Simon, currently deputy managing editor and senior executive producer, will lead the vision and editorial direction of Scripps News' national operations. The announcement comes as Scripps plans to end over-the-air broadcasting of Scripps News on Nov. 15, while maintaining its presence on streaming and digital platforms. Simon will report to Dean Littleton, focusing on integrating local and national news teams. The service will continue to be available through the Scripps News app, ScrippsNews.com, and various streaming platforms.
The Scripps Howard Fund announced winners of the 71st Scripps Howard Journalism Awards, showcasing impactful journalism across 14 categories. The awards show, hosted by Scripps News anchor Christian Bryant, featured guest appearances from notable journalists. Winners include:
- The Boston Globe for Excellence in Audio Storytelling
- The Associated Press for Excellence in Breaking News
- The New York Times for Excellence in Business/Financial Reporting and Impact Award
- ProPublica for Excellence in National/International Investigative Reporting
The awards highlight journalism's power to change lives and shape the world, from investigations into the Supreme Court's influence to exposés on hidden dangers in medical equipment.
The E.W. Scripps Company (NASDAQ: SSP) has announced it will report its third-quarter 2024 operating results after market close on Thursday, November 7. A conference call with senior management will follow on Friday, November 8 at 9:30 a.m. Eastern time. Investors and analysts can access the call via webcast at http://ir.scripps.com/ or by phone using the access code 739969.
A replay of the call will be available from 12:30 p.m. Eastern time November 8 until midnight December 8. The replay can be accessed by phone or online. For media inquiries, contact Michael Perry at (513) 259-4718, and for investor relations, contact Carolyn Micheli at (513) 977-3732.
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