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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.
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.
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.
The Women's National Basketball Association (WNBA) and The E.W. Scripps Company (NASDAQ: SSP) have entered a multi-year partnership to broadcast WNBA games on ION every Friday night during the regular season. This initiative, named 'WNBA Friday Night Spotlight on ION,' will run from May 26 to September 8, 2023, across 15 weeks.
This collaboration marks the WNBA as the first sports property featured on ION, allowing broader access for fans via over-the-air, pay TV, and connected TV services. Scripps plans to enhance visibility for women's basketball through robust promotional efforts across its various networks and local stations. WNBA Commissioner Cathy Engelbert emphasized the growing demand for game access, while Scripps CEO Adam Symson highlighted a commitment to elevating women's sports visibility.
Bounce, the entertainment network targeting African Americans, announced that its hit series "Act Your Age" will return on June 3, 2023, with two new episodes at 8 p.m. ET. This marks the continuation of its first season, consisting of 16 episodes. The show premiered in March, attracting 2.14 million viewers, making it Bounce's most-watched half-hour series debut. The sitcom features three women in their 50s navigating personal crossroads and stars notable actors like Kym Whitley and Tisha Campbell. Bounce will air double features of the first seven episodes starting April 29 and a marathon on May 27. The series is produced by MGM Television, aiming to capture a diverse audience with engaging content.
The E.W. Scripps Company (NASDAQ: SSP) will report its first-quarter 2023 operating results before market open on May 5, 2023. The earnings conference call will occur on the same day at 9:30 a.m. Eastern Time.
Investors can join the call via webcast or call (844) 867-6169 (U.S.) or (409) 207-6975 (international) with the access code 4229660. A replay will be available from 1:30 p.m. Eastern Time on May 5 until midnight June 5 via (866) 207-1041 (U.S.) and (402) 970-0847 (international) using the access code 8752910.
The company emphasizes its commitment to quality local journalism and operates a diverse portfolio of 61 stations across 41 markets, making it a significant player in the media landscape.
CINCINNATI, April 4, 2023 – The Scripps Howard Fund celebrated its 1 millionth book donation in the "If You Give a Child a Book ..." campaign by distributing 25,000 copies of "Dog Man: Twenty Thousand Fleas Under the Sea" to at-risk children. The Fund raised $1 million this year, providing 200,000 books nationwide, and surpassing 1 million books distributed since 2016. This initiative focuses on supporting literacy among children in Title 1 schools, emphasizing the importance of 10 age-appropriate books per child annually.
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