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.
Court TV will premiere a new documentary titled "Rampage Killers" on October 2 at 9 p.m. ET. The documentary marks the fifth anniversary of the Las Vegas shooting massacre and aims to delve into the psyche of rampage killers to prevent future incidents. Featuring exclusive police footage and an interview with convicted shooter Jeffrey Wade Wallace, the documentary underscores the network's commitment to exploring the motivations behind such heinous acts. The network has recently seen a surge in viewership, particularly during the Depp vs. Heard trial.
The E.W. Scripps Company (NASDAQ: SSP) is merging its news resources to form a new division called Scripps News, launching on January 1. This reorganization aims to enhance national news delivery while leveraging local broadcasting strengths. Kate O'Brian will lead Scripps News, reporting to CEO Adam Symson. The division will operate from Atlanta with multiple bureaus nationwide, including in major cities like Chicago and Los Angeles. The rebranded network will continue to provide free, 24/7 national news coverage, complementing local news efforts.
Bounce is set to premiere its original series, Finding Happy, on September 24, 2022, at 8 p.m. EDT. This dramedy, centering on the Black female experience, follows protagonist Yaz Carter as she navigates her unfulfilled life, marked by family complexities and romantic challenges in Atlanta. The debut season consists of 10 episodes, showcasing Yaz's journey toward self-discovery. The show stars B. Simone and features notable actors like Kim Coles and Marketta Patrice. Executive producers include Eric C. Rhone and Cedric The Entertainer.
The E.W. Scripps Company (NASDAQ: SSP) will present its business strategies at the 30th annual Deutsche Bank Leveraged Finance Conference in Scottsdale, Arizona. Executives Jason Combs and Rebecca Riegelsberger will engage with investors on September 20-21, 2022, with a presentation scheduled for 8 a.m. Pacific Time on September 21. Live audio of the presentation will be available for listeners from 8 a.m. to 8:35 a.m. Pacific via the Scripps website. Scripps, a leading media company, operates 61 stations in 41 markets and delivers quality local journalism.
The E.W. Scripps Company and The Washington Post are launching a new political show titled 'Election 22: What Matters', premiering on Sept. 9, 2022. This 30-minute program will focus on key voter issues ahead of the November elections, airing weekly on Fridays at 8:30 p.m. and re-running on weekends. The show will feature insights on topics like the economy and healthcare, with reporters from various states collaborating for in-depth coverage. This collaboration aims to provide a comprehensive view of what matters to voters across the nation.
Bounce and Grit networks have launched on DIRECTV, providing new content options for subscribers. Bounce, focused on original series and films for Black audiences, airs on channel 82, while Grit showcases classic westerns on channel 81. Both networks are part of The E.W. Scripps Company (NASDAQ: SSP). Bounce introduces new episodes of 'Johnson' at 8 p.m. ET on Sundays, with 'Finding Happy' premiering on Sept. 24. This partnership emphasizes the growing demand for diverse programming and classic genres.
VIZIO has expanded its free streaming service, WatchFree+, by adding four new channels from The E.W. Scripps Company: ION, ION Mystery, Bounce XL, and Grit Xtra. These channels will provide users with a diverse array of content, including popular dramas and thrilling investigative shows. VIZIO aims to enhance user experience by offering a wide variety of free programming without subscriptions or login requirements. This addition follows a growing relationship with Scripps, expanding the reach of their entertainment brands to millions of households across America.
The Scripps Howard Foundation has announced a $3.8 million grant to the International Center for Journalists (ICFJ) for a project called "Disarming Disinformation". This three-year initiative aims to empower journalists and students worldwide to combat misinformation through training in fact-checking, verification, and digital security. The project will also facilitate collaboration on disinformation investigations and produce resources including case studies. The initiative responds to urgent global issues related to misinformation, with activities starting immediately and funding provided until 2025.
On August 30, 2022, The E.W. Scripps Company (NASDAQ: SSP) announced the launch of the Scripps Journalism Journey Initiative, aiming to transition print journalists into broadcast careers. Led by Jim Iovino, a seasoned journalist with over 25 years of experience, this multi-year program is financially backed by Google. The initiative seeks to enhance digital journalism skills among veteran journalists, nurturing their talents for a video-driven news landscape. Applications are currently open, with the program set to start in December and January.
The Scripps Howard Fund's seventh annual childhood literacy campaign aims to distribute its 1 millionth book during the 2022-2023 school year. Running from August 29 to September 9, the campaign encourages $5 donations to provide books to children in need. Local television stations partner with Title 1 schools to ensure access for underserved children, focusing on kindergarten to third grade. The Fund's goal is to equip each student with 10 age-appropriate books annually. Donations can be made at ifyougiveabook.com.
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