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Overview
The E.W. Scripps Company (SSP) is a diversified media enterprise with a rich heritage dating back to 1878. Known for its commitment to objective local journalism and innovative digital storytelling, Scripps serves communities across the United States with a powerful blend of television, radio, and digital media assets. With a core focus on quality content and extensive local market penetration, the company provides trusted news and information that enable citizens to stay informed through both traditional and modern platforms.
Business Segments and Revenue Streams
Scripps operates through several key segments:
- Local Media: This segment comprises a broad network of local television stations and digital operations. These stations are affiliated with major networks including ABC, NBC, CBS, and FOX, enabling dynamic local advertising opportunities, retransmission fees and political advertising revenues. The wide reach in minute local markets is instrumental in delivering community news and real-time information.
- Scripps Networks: Under this umbrella, the company manages national news outlets and entertainment channels such as Scripps News, Court TV, ION, Bounce, and others. These networks maximize revenue primarily through advertising while maintaining a broad distribution that touches nearly every U.S. household.
- Digital and Sports Platforms: Recognizing the digital transformation, Scripps has expanded its scope into digital journalism and multimedia content. This includes owning innovative platforms in podcasting, over-the-top (OTT) video services, and dedicated sports broadcasting via Scripps Sports. Strategic partnerships with major sports leagues and teams have further diversified its content offerings and audience engagement on platforms such as ION and mobile streaming applications.
Content, Innovation, and Investigative Journalism
Scripps is not only a major broadcaster but also a content innovator. It underpins an award-winning investigative newsroom in Washington, D.C., known for its incisive reporting and its commitment to uncovering critical public interest stories. The company's production of educational and entertaining content, including long-standing institutions like the Scripps National Spelling Bee, showcases its versatility and deep-rooted trust within the media landscape.
Market Position and Industry Impact
As one of America’s largest independent TV station owners and the nation’s most extensive holder of broadcast spectrum, Scripps has a significant market presence. It operates in a competitive environment that demands high standards in local journalism, digital innovation, and sports broadcasting. Its ability to adapt to technological changes and shifts in content consumption underlines its resilience. By integrating traditional broadcast strengths with emerging digital trends, Scripps continues to set benchmarks in quality journalism and diversified media content.
Commitment to Excellence and Trustworthiness
Reflecting its long-time motto, "Give light and the people will find their own way," Scripps emphasizes credibility and authority in its operations. The company maintains rigorous journalistic standards and focuses on providing well-researched, fact-based reporting—a principle that has built a loyal audience and solidified its reputation among media professionals and investors alike.
Strategic Partnerships and Future-Proof Operations
Scripps has established multiple strategic partnerships to expand its reach and enhance its content offerings. Through collaborations with major sports leagues, digital partners, and content distribution platforms, Scripps has effectively diversified its audience base and revenue sources without compromising its commitment to quality journalism. These initiatives ensure that the company remains a pivotal player in both local and national media ecosystems.
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.
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.
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