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.
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.
The Scripps National Spelling Bee will air live on ION and Bounce in 2022, expanding its audience reach significantly. This primetime debut on June 2, 2022, marks a historic moment for the competition, which has been a staple of American culture since 1925. With ION and Bounce available in nearly 120 million households, the Bee aims to connect with younger audiences. Scripps President Adam Symson emphasized the importance of making the event more accessible. The deadline for schools to enroll in the program is December 31, 2021, with regional bees running from February 1 to March 31, 2022.
Dave German has been appointed as Vice President and General Manager of KMTV, The E.W. Scripps Company's CBS affiliate in Omaha, Nebraska, effective October 18. With over 36 years of broadcasting experience, including management roles in Odessa, Texas, and Anchorage, Alaska, German aims to enhance local business partnerships and drive the station's success. Scripps operates 61 stations and is the fourth-largest local TV broadcaster in the U.S., focusing on quality journalism and community engagement.
Newsy has launched as the nation's first free 24/7 broadcast news network, reaching over 90% of U.S. homes via over-the-air services. Staffed by seasoned journalists, it will provide 17 hours of daily news coverage from 14 bureaus nationally. Available on multiple platforms, Newsy aims to deliver objective journalism without bias, allowing viewers to interpret news freely. The network's programming is accessible via major OTT platforms and digital antennas, complemented by a new logo symbolizing its commitment to fact-based reporting.
Bounce has announced the renewal of its hit original series Johnson for a second season in 2022 after its successful debut, which attracted over two million viewers in August 2021, setting a Bounce record for a half-hour series. The first season finale is set to air on Oct. 3, 2021, at 8 p.m. ET. Johnson focuses on the lives and challenges of lifelong friends, highlighting the Black male experience. The series is produced by A Bird & A Bear Entertainment and showcases Atlanta's culture. The show's creators express gratitude for the support received and look forward to further character development in season two.
Cincinnati's leading television stations, namely WCPO-TV, WKRC-TV, WLWT, WXIX-TV, and WSTR-TV, have launched NEXTGEN TV, an innovative broadcasting technology. This system enhances viewer experience through superior video quality and features like advanced emergency alerts and Voice+ dialogue enhancement. The upgrade follows a decade of development and enables seamless integration with internet content for real-time viewing. WSTR-TV will handle both its own programming and that of other stations in the NEXTGEN format while maintaining existing DTV broadcasts.
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