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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.
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.
The E.W. Scripps Company (NASDAQ: SSP) reported a 23% increase in consolidated revenue for Q2 2021, attributed to strong advertising market recovery and sales execution. Local Media core advertising surged 48%, including a remarkable 623% rise in travel and leisure spending. The company's free cash flow guidance for 2021 was raised to $240-$260 million. Despite a loss of $11.4 million for continuing operations, Scripps showed robust performance in both Local Media and Scripps Networks. Total revenue for the quarter reached $565 million, reflecting a 57% year-over-year increase.
The E.W. Scripps Company (NASDAQ: SSP) appointed Eric Ludgood as the head of Newsy, effective August 16, 2021. Ludgood will oversee the editorial leadership and programming for Newsy, which aims to launch as a national news network by October 1, 2021. He brings extensive experience from CNN International, where he played key roles in major global events. Newsy, already available on major platforms, will soon reach over 90% of U.S. television homes, marking a significant expansion in its distribution.
Court TV will broadcast live coverage of real estate heir Robert Durst's testimony in his murder trial, where he is accused of killing Susan Berman in 2000. Durst pleaded not guilty and is expected to testify following expert witness Dr. Elizabeth Loftus. The trial is significant due to Durst's connection to the HBO documentary The Jinx, which renewed interest in the case. Durst was previously acquitted of another murder charge in Texas.
The E.W. Scripps Company (NASDAQ: SSP) has received recognition at the 2021 Top Women in Media Awards by Cynopsis Media for its commitment to equity and inclusion. Scripps was named a "Distinguished Company" for promoting equal opportunities and women's leadership. Two leaders, Lisa Knutson and Danyelle S.T. Wright, received individual honors in the "Corporate Visionaries" and "Innovators and Disruptors" categories, respectively. This acknowledgment follows Scripps' $2.65 billion acquisition of ION Media in January 2021, showcasing its leadership in the media industry.
The E.W. Scripps Company (NASDAQ: SSP) will announce its second-quarter 2021 operating results before Nasdaq trading on August 6, 2021. A conference call with senior management is scheduled for 9:30 a.m. Eastern time the same day. Investors can access the call via telephone or through a live webcast available on Scripps' investor relations page. A replay will be offered from 1:30 p.m. on August 6 until midnight August 20. Scripps is a leading media company operating 61 stations across 41 markets, known for quality journalism and entertainment.
On July 8, 2021, Zaila Avant-garde, a 14-year-old speller from New Orleans, won the 2021 Scripps National Spelling Bee, becoming the first Black American champion. She triumphed in round 18 by spelling 'Murraya.' The event, held at ESPN Wide World of Sports near Orlando, Florida, was attended virtually with health protocols in place due to COVID-19. Zaila received a $50,000 cash prize along with additional educational resources. The competition featured 209 qualifiers, with Chaitra Thummala and Bhavana Madini taking second and third place, respectively.
Defy TV and TrueReal launched on July 1, 2021, expanding The E.W. Scripps Company's network portfolio to nine channels, covering 92% of U.S. households. Defy TV targets men aged 25-54 with popular unscripted shows like 'Swamp People' and 'Pawn Stars', while TrueReal focuses on women with series like 'Hoarders' and 'Married at First Sight'. Both networks will be available for free on various platforms, including ION stations and select Scripps local stations. This strategic move aims to enhance viewership and ad revenue while catering to specific demographic preferences.
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