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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 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.
The new Bounce original series "Act Your Age" premiered on March 4, 2023, and drew in 2.14 million viewers, making it the most-watched half-hour series launch in Bounce history. The series features a storyline about three successful women in their 50s navigating life changes together. Starring Kym Whitley, Tisha Campbell, and Yvette Nicole Brown, the show airs weekly on Saturdays at 8 PM ET and will consist of 16 episodes, split into two parts. Its initial success is significant for Bounce's programming strategy and audience engagement.
The E.W. Scripps Company (NASDAQ: SSP) reported fourth-quarter 2022 revenue of $681 million, up 9.4% year-over-year, and segment profit of $204 million, a 21% increase. Growth was driven by political advertising and distribution revenues. Scripps plans a reorganization expected to save at least $40 million annually. Key developments included the launch of Scripps Sports and the incorporation of the Scripps News unit. Local Media revenues rose to $433 million, boosted by a record $106 million in political revenue. However, Scripps Networks revenue fell 9.2% due to macroeconomic challenges. Looking ahead, Local Media revenue is projected to decline in early 2023.
The E.W. Scripps Company (NASDAQ: SSP) has nominated Raymundo H. Granado and Monica O. Holcomb for election to its board of directors.
Granado, a private investor and philanthropist, has been involved in social impact initiatives, while Holcomb has directed the Scripps Family Impact Fund since its inception. They will replace Anne La Dow and Michael Scagliotti, who are stepping down after several years on the board.
The election will take place at the Scripps shareholder annual meeting on May 1. The board's size is expected to remain at 11 members.
Court TV has announced the return of its popular true-crime series, "Someone They Knew With Tamron Hall", for a second season starting February 19 at 9 PM ET. The series will feature 24 new episodes exploring compelling murder cases from the perspectives of those involved, including family and law enforcement. Notable cases include "Burning Jealousy" and "Mommy Dearest". Tamron Hall, a Daytime Emmy Award-winning host, emphasizes the series’ focus on the emotional impact of crime. The show is part of Court TV's extensive legal programming, which is available in 97% of U.S. homes.
The E.W. Scripps Company (NASDAQ: SSP) will announce its fourth-quarter 2022 operating results before the market opens on February 24, 2023.
A conference call with senior management will follow at 9:30 a.m. Eastern time on the same day, accessible via webcast or by phone at (844) 867-6169 (U.S.) and (409) 207-6975 (international) with access code 4229660.
A replay will be available from 1:30 p.m. Eastern time on February 24 until midnight on March 24, with replay numbers (866) 207-1041 (domestic) and (402) 970-0847 (international) using access code 3388176.
Bounce has announced the premiere of its new original series, Act Your Age, in partnership with MGM. The show will debut on March 4, 2023, at 8 p.m. ET, featuring back-to-back episodes. This multi-camera comedy showcases three women in their 50s navigating personal crossroads in life. Starring Kym Whitley and Tisha Campbell, with Yvette Nicole Brown as a guest star, the series blends humor with relatable themes. It will consist of two parts across 16 episodes, with the first half airing weekly in spring and the latter in summer. Episodes will also be available on Brown Sugar, Bounce's streaming service, following their TV premieres.
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