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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 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.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Ethan Nelson as head of program development and Christina Hartman as head of news standards, effective immediately. Nelson will lead the expansion of Newsy's programming lineup ahead of its 24/7 launch on October 1, while Hartman will ensure high editorial standards for Newsy and Court TV. Both will report to Kate O'Brian, strengthening Scripps' commitment to fact-based reporting. With significant experience in television production, their leadership aims to enhance Scripps' news offerings across multiple platforms.
Kansas City’s leading television stations, including KMBC-TV, KCTV, and KSHB-TV, have launched NEXTGEN TV, a groundbreaking digital broadcast technology based on ATSC 3.0. This upgrade offers enhanced features like improved emergency alerts, superior video quality, and better audio clarity. The launch follows extensive planning and development and marks a significant step for local broadcasters. The technology will enable viewers to enjoy live events and real-time content more effectively. The service is already operational in over 30 cities nationwide.
Court TV will air two significant trials: Wisconsin v. Kyle Rittenhouse and Georgia v. Ahmaud Arbery. The network aims to provide comprehensive coverage and analysis, working closely with court officials for transparency. In addition, Ashley Willcott, a former judge, joins as the fifth anchor, hosting live coverage weekdays from 3 to 6 p.m. ET. Following the Derek Chauvin trial, Court TV experienced a surge in ratings, with a 330% increase in trial coverage viewership compared to prior averages. The network continues to expand its reach through various streaming platforms.
The E.W. Scripps Company (NASDAQ: SSP) announced the appointment of Adam Chase as vice president and general manager for WTKR, its CBS affiliate in Norfolk, Virginia, effective September 6, 2021. Chase previously managed KXXV and KRHD in Texas, achieving significant ratings success and expanding local news coverage. His leadership is expected to enhance WTKR's market position. Scripps, the fourth-largest local TV broadcaster in the U.S., focuses on quality journalism across its 61 stations.
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