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The E.W. Scripps Company - SSP STOCK NEWS

Welcome to our dedicated page for The E.W. Scripps Company news (Ticker: SSP), a resource for investors and traders seeking the latest updates and insights on The E.W. Scripps Company stock.

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.

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The Vegas Golden Knights and Scripps Sports have signed a multi-year agreement to bring all locally broadcast Golden Knights games for free to residents of Nevada and surrounding states. The deal allows Scripps to televise non-nationally exclusive Golden Knights games with full distribution on cable, satellite, and over-the-air television. Financial terms were not disclosed.
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The E.W. Scripps Company (NASDAQ: SSP) has appointed Brian Joyce as the new vice president and general manager for KMGH, the ABC affiliate in Denver, effective May 8, 2023. Joyce brings over 25 years of broadcasting experience and previously served as vice president and general manager at KPAX in Missoula, Montana. His leadership is recognized for fostering collaboration and community engagement. Joyce is expected to enhance the Denver station's connection with the audience and advertisers. He replaces Dean Littleton, who transitioned to oversee Scripps' local stations. Joyce holds a bachelor's degree in broadcast journalism from Oklahoma State University and has completed executive leadership training at The Wharton School of Business.

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Court TV reported record viewership highs from the recent high-profile trials of Alex Murdaugh and Gwyneth Paltrow. Following this surge, a new docuseries titled "Accomplice to Murder with Vinnie Politan" is set to premiere on May 7, 2023, at 8 p.m. The series will explore the roles of accomplices in murder cases, featuring stories from individuals connected to infamous trials over the past three decades. The first episodes will cover cases from Florida and Mississippi, highlighting complex narratives involving familial violence and wrongful accusations. Politan, a seasoned legal journalist, hosts the series, aiming to present a broader view of murder cases beyond just the main suspects.

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FAQ

What is the current stock price of The E.W. Scripps Company (SSP)?

The current stock price of The E.W. Scripps Company (SSP) is $1.87 as of December 23, 2024.

What is the market cap of The E.W. Scripps Company (SSP)?

The market cap of The E.W. Scripps Company (SSP) is approximately 161.1M.

What does The E.W. Scripps Company do?

The E.W. Scripps Company is a media enterprise focused on delivering quality journalism and information through a diverse portfolio of television, radio, and digital media brands.

How many television and radio stations does Scripps own?

Scripps owns 33 television stations in 24 markets and 34 radio stations in eight markets across the United States.

What are some of Scripps' notable digital media properties?

Scripps' digital media properties include Midroll Media, Newsy, and Weathersphere.

What recent achievements has Scripps accomplished?

In the first quarter of 2024, Scripps delivered $561 million in revenue and saw significant growth in connected TV revenue. The company also received multiple National Headliner Awards and Peabody Awards for its investigative journalism.

What is Scripps' historical motto?

Scripps' historical motto is 'Give light and the people will find their own way'.

What major educational program does Scripps steward?

Scripps is the long-time steward of the Scripps National Spelling Bee, the nation's largest and most successful educational program.

Who are some of Scripps' strategic partners?

Scripps has partnered with State Farm for sponsorships and airs National Women’s Soccer League matches on ION.

What is the financial condition of Scripps as of the end of 2023?

As of the end of 2023, Scripps had $35.3 million in cash and equivalents and a total debt of $3 billion.

What are some of the key entertainment networks owned by Scripps?

Scripps owns entertainment networks such as ION, Bounce, Defy TV, Grit, ION Mystery, and Laff.

What are some recent financial strategies employed by Scripps?

Scripps is focused on reducing debt levels and exploring the sale of strategic assets like the Bounce TV network to further stabilize and grow the company.

The E.W. Scripps Company

Nasdaq:SSP

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161.07M
61.36M
17.42%
78.35%
3.4%
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