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Overview
The E.W. Scripps Company (SSP) is a diversified media enterprise with a rich heritage dating back to 1878. Known for its commitment to objective local journalism and innovative digital storytelling, Scripps serves communities across the United States with a powerful blend of television, radio, and digital media assets. With a core focus on quality content and extensive local market penetration, the company provides trusted news and information that enable citizens to stay informed through both traditional and modern platforms.
Business Segments and Revenue Streams
Scripps operates through several key segments:
- Local Media: This segment comprises a broad network of local television stations and digital operations. These stations are affiliated with major networks including ABC, NBC, CBS, and FOX, enabling dynamic local advertising opportunities, retransmission fees and political advertising revenues. The wide reach in minute local markets is instrumental in delivering community news and real-time information.
- Scripps Networks: Under this umbrella, the company manages national news outlets and entertainment channels such as Scripps News, Court TV, ION, Bounce, and others. These networks maximize revenue primarily through advertising while maintaining a broad distribution that touches nearly every U.S. household.
- Digital and Sports Platforms: Recognizing the digital transformation, Scripps has expanded its scope into digital journalism and multimedia content. This includes owning innovative platforms in podcasting, over-the-top (OTT) video services, and dedicated sports broadcasting via Scripps Sports. Strategic partnerships with major sports leagues and teams have further diversified its content offerings and audience engagement on platforms such as ION and mobile streaming applications.
Content, Innovation, and Investigative Journalism
Scripps is not only a major broadcaster but also a content innovator. It underpins an award-winning investigative newsroom in Washington, D.C., known for its incisive reporting and its commitment to uncovering critical public interest stories. The company's production of educational and entertaining content, including long-standing institutions like the Scripps National Spelling Bee, showcases its versatility and deep-rooted trust within the media landscape.
Market Position and Industry Impact
As one of America’s largest independent TV station owners and the nation’s most extensive holder of broadcast spectrum, Scripps has a significant market presence. It operates in a competitive environment that demands high standards in local journalism, digital innovation, and sports broadcasting. Its ability to adapt to technological changes and shifts in content consumption underlines its resilience. By integrating traditional broadcast strengths with emerging digital trends, Scripps continues to set benchmarks in quality journalism and diversified media content.
Commitment to Excellence and Trustworthiness
Reflecting its long-time motto, "Give light and the people will find their own way," Scripps emphasizes credibility and authority in its operations. The company maintains rigorous journalistic standards and focuses on providing well-researched, fact-based reporting—a principle that has built a loyal audience and solidified its reputation among media professionals and investors alike.
Strategic Partnerships and Future-Proof Operations
Scripps has established multiple strategic partnerships to expand its reach and enhance its content offerings. Through collaborations with major sports leagues, digital partners, and content distribution platforms, Scripps has effectively diversified its audience base and revenue sources without compromising its commitment to quality journalism. These initiatives ensure that the company remains a pivotal player in both local and national media ecosystems.
National News Literacy Week will be held from Jan. 23-27, 2023, aiming to combat misinformation and build trust in news. According to the Edelman Trust Barometer, only 39% of American adults trust media, down from 45% in 2021. Events will include discussions led by newsroom leaders from top outlets, focusing on transparency and media accountability. Co-presented by the News Literacy Project and Scripps, the initiative seeks to enhance news literacy in the U.S.
The E.W. Scripps Company (NASDAQ: SSP) announced a major restructuring to enhance agility in its operations and drive growth across various media platforms. Lisa Knutson has been appointed Chief Operating Officer to spearhead this initiative, focusing on improving operational performance, realizing synergies, and facilitating employee mobility. The restructuring aims to capitalize on opportunities in news, sports, and emerging distribution platforms. Future updates will be provided during the February earnings call.
The 70th Scripps Howard Awards is now accepting entries for exceptional journalism produced in 2022, running from Jan. 3 to Feb. 5, 2023. The awards feature $170,000 in total prize money across 15 categories, including Business/Financial Reporting and Investigative Reporting. Winners will be announced in October during a broadcast on Scripps News. This event honors various media outlets for their impactful work, with previous winners highlighting significant investigations such as the Pandora Papers.
The E.W. Scripps Company (Nasdaq: SSP) has announced the launch of a new Scripps Sports division aimed at enhancing partnerships with sports leagues, conferences, and teams. Brian Lawlor, previously leading the Local Media division, will serve as president of the new division. The company’s acquisition of ION Media provides significant national reach through various broadcasting platforms, enabling localized and national programming. Scripps has a history of acquiring sports rights, including the NFL and NHL, positioning it well in a fragmented sports marketplace.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Corrie Loeffler, a three-time national competitor of the Scripps National Spelling Bee, as the executive director of the program, effective January 3. Loeffler has 16 years of experience with the Bee, most recently as director of editorial programs and national partnerships. The 95th Scripps National Spelling Bee will take place from May 30 to June 1, 2023. The competition, which started in 1925, is the longest-running educational contest in the U.S., witnessing viewership of over 7 million during last year’s finals.
Bounce has announced a partnership with MGM to create a new original comedy series titled "Act Your Age", set to premiere in spring 2023. The show portrays the lives of three successful women in their 50s navigating personal challenges in Washington D.C./Northern Virginia. Starring Kym Whitley, Tisha Campbell, and Yvette Nicole Brown, the series aims to celebrate Black women's stories. With 16 episodes in production in Los Angeles, this initiative marks a significant step for Bounce's original programming, according to David Hudson of Scripps Networks.
The E.W. Scripps Company (NASDAQ: SSP) reported Q3 2022 revenue of $612 million, a 10% increase year-over-year, with a segment profit of $145 million, up 13%. Political ad revenue reached $208 million for the 2022 midterms, surpassing 2018 records. Scripps Networks saw a 57% growth in Connected TV (CTV) revenue and aims for a $100 million annual run rate. Adjusted free cash flow is projected at $320 million for 2022. However, local media core advertising decreased by 12%, and the company anticipates Scripps Networks revenue to decline in Q4.
The E.W. Scripps Company (NASDAQ: SSP) will announce its third-quarter 2022 operating results before the market opens on Nov. 8. A conference call with senior management is scheduled for 9 a.m. Eastern time, which will be available via live webcast. Investors can access the call by dialing (844) 291-6362 (U.S.) or (234) 720-6995 (international) using access code 6276117. A replay of the call will be available from noon on Nov. 8 until midnight on Dec. 8, with numbers provided for both domestic and international access.
Scripps Networks announced five new original holiday movies set to premiere on ION and Bounce, enhancing its holiday programming. Beginning Nov. 20, the movies feature notable actors like Billy Baldwin and Vivica A. Fox. A total of nearly 200 hours of holiday content will be aired throughout the season. Highlights include titles such as 'The Case of the Christmas Diamond' and 'Dognapped: Hound for the Holidays'. This initiative aims to engage viewers with entertaining holiday stories across various platforms.
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