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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.
Harini Logan, a 14-year-old from San Antonio, Texas, won the 2022 Scripps National Spelling Bee in its first-ever spell-off by correctly spelling 'moorhen.' The competition featured 229 spellers, with Logan spelling 22 out of 26 words correctly. The event, held at the Gaylord National Hotel in Maryland, was overseen by Dr. J. Michael Durnil and concluded with a trophy presentation by Scripps CEO Adam Symson. Logan receives a $50,000 cash prize and other rewards totaling over $52,000, further solidifying the Bee's status in American culture.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Dave German as the new vice president and general manager for KXXV and KHRD, Scripps ABC affiliates in the Waco/Temple/Bryan, Texas market, effective June 20, 2022. German, who has over 30 years of experience in broadcasting, previously served as general manager at KMTV in Omaha, Nebraska. His leadership is expected to enhance revenue growth and improve local news coverage. He takes over from Andrés Chapparo, who moved to a position in Miami.
The Scripps Howard Foundation announces the finalists for the 69th Scripps Howard Awards, showcasing impactful journalism across 15 categories. Over 800 entries were evaluated by a panel of veteran journalists. A total of $170,000 in prizes will be awarded to the winners, with the ceremony taking place on June 12, 2022, at 8 p.m. ET, airing on Newsy. The awards highlight excellent reporting on crucial issues such as breaking news, business, environmental, and investigative journalism, emphasizing the importance of accountability and truth in media.
The E.W. Scripps Company (NASDAQ: SSP) announces the premiere of "Road to the Bee," a one-hour special airing on ION and Bounce on May 26 at 8 p.m. ET. This show provides an inside look at the preparation for the Scripps National Spelling Bee, featuring insights from competitors and supporters. The semifinals will be held on June 1, and the finals on June 2, both broadcast live on ION and Bounce. This event marks the first time the competition will be aired on these networks, as part of Scripps' strategy to enhance the Bee's visibility.
The E.W. Scripps Company (NASDAQ: SSP) announced a multi-year partnership with Google on May 17, 2022, to launch the Scripps Journalism Journey Initiative. This initiative aims to transition experienced print journalists into broadcast news roles through dedicated training and support. Google has financially committed to this initiative, which will enable full-time career positions in Scripps’ local and national newsrooms. Applications for the program are anticipated to open in early summer, with positions including reporters, editors, and producers.
The E.W. Scripps Company (NASDAQ: SSP) announced a strong financial performance for Q1 2022, achieving $566 million in total revenue, a 4.6% increase year-over-year, and segment profit of $115 million. The company is on track to generate free cash flow between $400-$450 million for the year, bolstered by projected $270 million in political advertising revenue. Highlights include a 3.4% rise in core advertising revenue and an 8.5% increase in combined revenue from Scripps Networks.
On May 5, 2022, Bounce announced its original programming schedule featuring the new series Finding Happy, premiering in Fall 2022. This dramedy portrays the life of Yaz Carter, exploring themes of unfulfilled dreams and self-discovery, with a cast led by B. Simone. The lineup also includes the return of Johnson on July 10 and the holiday movie Faith Heist 2. Special events like the Scripps National Spelling Bee and the 30th Bounce Trumpet Awards will further enrich Bounce's offerings in June.
The Scripps National Spelling Bee will host 234 spellers from May 31 to June 2, 2022, at National Harbor, Maryland, marking its first fully in-person event since 2019. The competitors, aged 7 to 15, qualified through local and regional bees. Semifinals will air live on ION and Bounce on June 1, while the finals will follow on June 2. Participants will engage in activities like STEM workshops and creative arts. The champion will receive a $50,000 cash prize. This year's Bee aims to inspire future generations through broadcasting in over 120 million households.
On May 3, 2022, shareholders of The E.W. Scripps Company (NASDAQ: SSP) elected two new members, Burton Jablin and Leigh Radford, to the board of directors. Jablin, a seasoned programming executive, previously led Scripps Networks Interactive before its acquisition by Discovery Communications. Radford, a retired senior VP from Procter & Gamble, has considerable experience in consumer brand marketing. Their appointments aim to strengthen Scripps' media industry expertise as the company navigates ongoing evolution.
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