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.
The Scripps Howard Awards will accept entries from Dec. 1, 2021 to Feb. 6, 2022 for outstanding journalism produced during 2021. A total of $170,000 in prize money will be awarded across 15 categories, with the ceremony taking place in June on Newsy. The awards emphasize impactful reporting that drives change. Last year, winners included The New York Times and The Washington Post, recognizing the importance of journalism in democracy and social change.
Joseph Naylor has been appointed as vice president of emerging products for The E.W. Scripps Company's Local Media division. His role focuses on digital thought leadership and the development of non-linear opportunities across Scripps' 61 TV stations in 41 markets. Naylor brings over 18 years of experience from Cox Media Group, where he was involved in product management and digital media strategies. Scripps aims to leverage his expertise to enhance content delivery and audience engagement through innovative technologies.
The E.W. Scripps Company (NASDAQ: SSP) reported Q3 2021 revenue of $555 million, up 13% year-over-year, driven by strong local and national ad sales. Local Media advertising exceeded 2019 levels, fueled by demand for connected TV and sports betting. Scripps Networks achieved 18% revenue growth, with adjusted profit margins expected at 40% for the year. The company paid down $500 million in debt and increased free cash flow guidance to $255-$265 million. Despite political ad revenue decline, the integration of ION and expansion in CTV bolstered financial performance.
Daytime EMMY Award-winning host Tamron Hall will lead a new true-crime series on Court TV titled "Someone They Knew…With Tamron Hall", debuting January 9, 2022, at 9 p.m. ET. The show investigates murder cases with prior connections between the victim and the perpetrator, featuring firsthand accounts from those impacted by the cases. Tamron, an experienced journalist and author, aims to deliver engaging and unbiased storytelling. Court TV, part of E.W. Scripps Company (NASDAQ: SSP), provides extensive live and on-demand legal content.
Andrés Chaparro is appointed vice president and general manager for KXXV and KRHD, Scripps' ABC affiliates in Texas, effective October 25. Previously, he was president of KDEN in Denver, where he expanded news operations and won 'Station of the Year' in 2018. Chaparro is recognized for community engagement, especially with the Hispanic community, and has a background in marketing. He aims to strengthen local relationships and enhance community service at KXXV and KRHD. The E.W. Scripps Company operates 61 stations and emphasizes quality journalism.
The Scripps Howard Foundation's "If You Give a Child a Book …" campaign aims to distribute over 200,000 books to low-income children this school year. The campaign raised $840,657, enabling the purchase of 168,131 books for nonprofits and Title I schools. Kellogg's partnered to donate an additional 35,000 books through its "Feeding Reading" program. Since its launch in 2016, the initiative has donated over 500,000 books, with this year's total surpassing 700,000.
The E.W. Scripps Company (NASDAQ: SSP) will release its third-quarter 2021 operating results before trading begins on Friday, Nov. 5. A conference call with senior management is scheduled for 9:30 a.m. Eastern time on the same day. Investors can access the live webcast via Scripps Investor Relations. For those wishing to join by phone, the U.S. number is (844) 867-6169 and the international number is (409) 207-6975, requiring access code 3859521. A replay will be available from 1:30 p.m. Eastern time Nov. 5 until midnight Nov. 19.
FAQ
What is the current stock price of The E.W. Scripps Company (SSP)?
What is the market cap of The E.W. Scripps Company (SSP)?
What does The E.W. Scripps Company do?
How many television and radio stations does Scripps own?
What are some of Scripps' notable digital media properties?
What recent achievements has Scripps accomplished?
What is Scripps' historical motto?
What major educational program does Scripps steward?
Who are some of Scripps' strategic partners?
What is the financial condition of Scripps as of the end of 2023?
What are some of the key entertainment networks owned by Scripps?
What are some recent financial strategies employed by Scripps?
