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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.
The Scripps Howard Fund's ninth annual 'If You Give a Child a Book …' campaign is set to invest a record-breaking $1.5 million in childhood literacy. This year's initiative will provide over 260,000 new books to children at low-income schools across the United States. The campaign focuses on reaching underserved children living in poverty, particularly those in kindergarten through third grade.
Supported by The E.W. Scripps Company (NASDAQ: SSP), its employees, communities, and Scripps family members, the campaign also received a 25,000-book donation from Scholastic. Through a partnership with Scholastic, Scripps' local stations and national networks distribute free books during book fairs, allowing children to choose books to take home. The Fund aims to provide 10 books annually to every student in partner Title I schools.
With this year's contributions, the total number of books distributed since 2016 will surpass 1.5 million. The Scripps Howard Fund invested more than $8.7 million in charitable gifts in 2023 for journalism education, childhood literacy, and community giving.
Court TV announces a new original series, 'Interview With a Killer', premiering Sunday, Oct. 20 at 8 pm ET. Veteran journalist David Scott conducts face-to-face interviews with five convicted murderers, four of whom have not spoken publicly about their convictions. The series, executive produced by Ethan Nelson and Zach Toombs, will air on Sunday nights.
The five-episode series covers various high-profile cases, including:
- 'A Double Life' (Oct. 20): Brian Steven Smith's secret life as a serial killer
- 'Honor Killings' (Oct. 27): Yaser Said's first interview since conviction
- 'Catfishing for Murder' (Nov. 3): Denali Brehmer's exclusive interview
- 'The Blackout Killer' (Nov. 10): Bo Pete Jeffrey's new story
- 'Teenage Rage' (Nov. 17): Tyler Hadley's chilling confession
This series is part of Court TV's fall primetime lineup, which also includes 'VPI: Vinnie Politan Investigates' and the second season of 'Victim to Verdict with Ted Rowlands'.
Scripps News has won a national news Emmy Award for its investigation "Poisoned Water," which examined the Flint, Michigan, water crisis. The award was announced during the 45th News and Documentary Emmy Awards. Scripps News won in the Outstanding Investigative News Coverage: Short Form category, competing against CNN, CBS, NBC, and The New York Times.
President of News at Scripps, Kate O'Brian, praised the team's work. The team included Carrie Cochran, Mark Greenblatt, Amy Fan, Colin McIntyre, Rosie Cima, Max McClellan, Linda Pattillo, and Steve Turnham. The investigation revealed that many Flint residents were still exposed to lead-contaminated water due to unreplaced corroded pipes.
Additionally, Scripps News' "In Real Life" series received a nomination for its documentary "Voices of Nature," and another investigation, "Fentanyl: The Silent Toll," was nominated for Outstanding Research.
The Florida Panthers, ViewLift, and Scripps Sports have launched 'Panthers Plus,' a new streaming platform for Panthers games and content. Available in the Florida broadcast territory, the service offers access to 70 live, locally-produced Panthers games for $69.99 per season. The platform is accessible on various devices, including web browsers, iOS, Android, AppleTV, Roku, and Amazon Fire TV.
Four preseason games will be available for free starting September 27. The service aims to enhance fan engagement by providing multiple viewing options, including on-demand video and original Panthers programs. It's designed as an alternative for cord-cutters and streaming enthusiasts. Scripps Sports will distribute games over the air and by cable from Key West to the Treasure Coast and in Ft Myers.
The E.W. Scripps Company (NASDAQ: SSP) will participate in the 32nd annual Deutsche Bank Leveraged Finance Conference in Scottsdale, Arizona, on September 24, 2024. Jason Combs, chief financial officer, and Rebecca Riegelsberger, treasurer and senior vice president of tax, will represent the company, meeting with investors and delivering a presentation.
The presentation is scheduled for 1:35 p.m. Pacific time (4:35 p.m. Eastern time) on Tuesday. Live audio will be available on the Scripps website under the "investor information" section. A replay will be accessible for approximately 90 days under "audio/video links."
The conference is held at The Phoenician, and registration is required. For investor inquiries, contact Carolyn Micheli at 513-977-3732 or carolyn.micheli@scripps.com.
The WNBA on ION, part of The E.W. Scripps Company (NASDAQ: SSP), saw a significant increase in viewership during the 2024 season. Average viewership doubled with a 133% increase from 2023, reaching 670,000 viewers per game. The network attracted 23.37 million unique viewers across games and wrap shows, up from 12.3 million last year. Notably, the male audience (ages 25-54) grew by 181%.
ION broadcast a WNBA-high 43 regular-season games and 67 hours of content, including a new studio show. Seven telecasts exceeded an average of 1 million viewers. The network also delivered the largest percentage of female audience among networks airing WNBA games, with 50% of the 18-49 audience and 45% of the total audience being female.
The Scripps Howard Fund has announced finalists for the 71st Scripps Howard Journalism Awards, set to honor excellence in American journalism on October 20, 2024. The prestigious competition received 775 entries across 14 categories, with winners to be revealed during a special program on Scripps News. The awards will distribute $170,000 in prize money to winning news organizations and journalists.
Categories include Excellence in Audio Storytelling, Breaking News, Business/Financial Reporting, Environmental Reporting, and Investigative Reporting, among others. The coveted Impact Award will be chosen from finalists across all categories, honoring journalism with the greatest impact. Additionally, two journalism education awards were announced in partnership with the Association for Education in Journalism and Mass Communication.
The E.W. Scripps Company (NASDAQ: SSP) has promoted Sean Franklin to vice president and general manager for WLEX, their NBC affiliate in Lexington, Kentucky, effective Sept. 16, 2024. Franklin, who has been the station's director of engineering since 2019, brings extensive experience in local media leadership. His career at WLEX spans various roles, including production manager and operations manager. Prior to joining Scripps, Franklin served as vice president of engineering for Cordillera Communications, overseeing a 12-station engineering group. This promotion aligns with Scripps' commitment to fostering employee growth and development within the company.
Court TV has unveiled its fall primetime lineup, featuring new and returning original series. The network's newest show, 'Vinnie Politan Investigates', will air weeknights at 9 p.m. ET, exploring high-profile cases. The second season of 'Victim to Verdict with Ted Rowlands' debuts on September 8 at 8 p.m. ET, covering major moments from recent high-profile cases.
The lineup includes episodes on the Johnny Depp v. Amber Heard civil case, the murder of Ahmaud Arbery, the trial of Kyle Rittenhouse, and the Alec Baldwin 'Rust' case. Court TV will also cover upcoming trials, including those of Sarah Boone and Donna Adelson in Florida, and Richard Allen, the alleged Delphi murderer, in Indiana.
The Scripps Howard Fund is doubling its impact for National Literacy Month on Sept. 4, 2024, by matching the first $175,000 donated to the "If You Give a Child a Book ..." campaign. For every $12 donated, two books are given to a child in need. The campaign, supported by The E.W. Scripps Company (NASDAQ: SSP), focuses on distributing free books to underserved children in kindergarten through third grade.
The Fund brings Scholastic Book Fairs to Title 1 schools, allowing students to choose their own books. In 2023, the campaign raised a record-breaking $1.2 million and has distributed over 1.25 million books since its 2016 launch. The Scripps Howard Fund aims to provide 10 books annually to each student in partnering low-income schools, emphasizing the critical importance of literacy by third grade.
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