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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.
Bounce is set to premiere the sixth and final season of its acclaimed series Saints & Sinners on April 3, 2022, airing Sunday nights at 8 p.m. ET/PT. The show, which has garnered a loyal audience, focuses on themes of power, corruption, and deception within a southern church backdrop. Viewers can catch up on previous seasons through Brown Sugar, the network's subscription service. The series is produced by Swirl Films and features an ensemble cast including Vanessa Bell Calloway and Clifton Powell.
Green Bay's television stations, including WBAY-TV, WFRV-TV, WLUK-TV, WGBA-TV, and WCWF, have launched NextGen TV, leveraging ATSC 3.0 technology. This upgrade enhances broadcast quality with stunning visuals and improved audio features, such as Voice+ dialogue enhancement. The service, already live in over 40 cities, provides better emergency alerts and integrates internet content for real-time updates during live events. Viewers can continue using existing DTV formats or rescan their devices for uninterrupted service.
The third annual National News Literacy Week kicks off on January 24, 2022, with a focus on combating misinformation. This initiative, supported by over 30 news organizations, emphasizes the importance of news literacy in making informed decisions. The week includes public announcements and resources aimed at educators and the public to strengthen skills in discerning credible information. The E.W. Scripps Company (NASDAQ: SSP) is a presenting sponsor, urging communities to engage with news responsibly and understand the standards of journalism.
Newsy announces the relaunch of its primetime program "The Why," airing on Jan. 10 at 10 p.m. ET. Hosted by Tatevik Aprikyan, the hour-long show will focus on in-depth discussions of social, cultural, and political topics. Aprikyan, an award-winning journalist from Seattle, aims to provide insightful information to viewers. The program will be executive produced by Hank Mendheim, an experienced television executive. Viewers can watch Newsy through various platforms, including streaming devices, enhancing the network's reach.
Marcus Riley has been promoted to senior director of content strategy and inclusive journalism at The E.W. Scripps Company (NASDAQ: SSP). This role aims to enhance connections between Scripps television stations and their audiences by focusing on inclusive journalism. Riley previously served as senior director of content strategy for the northern region since 2019. Scripps is undertaking field research to improve inclusivity in news coverage, and Riley will implement these findings across local news teams, aligning with the company's commitment to representation.
On January 4, 2022, The E.W. Scripps Company (NASDAQ: SSP) announced that CEO Adam Symson, CFO Jason Combs, and SVP Carolyn Micheli will present at the 24th Annual Needham Growth Conference on January 13. They will discuss the company's business strategies and engage in one-on-one meetings with investors. Symson's conversation with Laura Martin will be broadcast live from 10-10:40 a.m. Eastern. Scripps operates 61 TV stations across 41 markets, providing a wide range of news and entertainment programming.
LeVar Burton, a celebrated actor and literacy advocate, will host the 94th Scripps National Spelling Bee semifinals on June 1, 2022, and finals on June 2, 2022, in Washington, D.C. Burton's involvement reflects the Bee's mission to promote children's literacy. He has received multiple Emmy and Grammy awards and is renowned for his role in 'Reading Rainbow' and 'Roots.' The 2022 competition will be broadcasted widely, ensuring accessibility. The E.W. Scripps Company (NASDAQ: SSP) oversees the event, which has been running since 1925, emphasizing students' spelling and vocabulary development.
Keisha Taylor Starr has been appointed as the new chief marketing officer for Scripps Networks, effective January 3, 2022. With over 20 years of media experience, she previously served as senior vice president of marketing and public relations for The Recount. Starr will lead marketing strategies across Scripps' nine national networks, reporting to president Lisa Knutson. Scripps Networks, part of The E.W. Scripps Company (NASDAQ: SSP), includes prominent brands like Court TV and ION, reaching nearly every American household.
Cheryle Harrison has been appointed as the head of Bounce, a leading network serving African Americans. With over 30 years of experience in broadcasting, Harrison aims to enhance Bounce's strategic vision, which includes marketing, programming, and digital community relations. Known for her contributions since the network's inception in 2011, she is expected to guide Bounce into a new era of growth and cultural significance. Bounce is available to 98% of the U.S. and has recently launched BounceXL, a free ad-supported streaming channel.
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