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.
The Scripps Howard Foundation's "If You Give a Child a Book..." campaign aims to distribute over 165,000 books to low-income children nationwide during the 2020 school year, following a successful fundraiser that raised $825,369. Starting in January 2021, Scripps TV stations will collaborate with local schools and nonprofits to ensure book distribution. Since 2016, the campaign has donated more than 352,000 books, with the total expected to exceed 500,000 this year. This initiative underscores Scripps’ commitment to childhood literacy and community support.
The E.W. Scripps Company (NASDAQ: SSP) is set to enhance its local news presence in Michigan by launching original newscasts at WSYM, its Fox affiliate in Lansing, starting early next year. This initiative expands Scripps' reach, covering approximately 81% of TV households in Michigan. WSYM aims to build a local newsgathering team, utilizing Scripps' existing Michigan stations and national content desk. This move aligns with Scripps' commitment to impactful journalism and strengthens its position as one of the largest independent TV station owners in the U.S.
The E.W. Scripps Company (NASDAQ: SSP) is launching an extensive initiative to assist voters during the pandemic-affected voting process. This includes local digital voter guides and national coverage across 42 markets, aimed at ensuring voters have necessary resources. Scripps is also partnering with ProPublica on election security issues. They are focusing on increasing voter engagement through multiplatform promotions and targeted initiatives for Latino and African American communities. The company aims to combat misinformation and provide vital information to aid voter participation in the unusual 2020 election cycle.
Bounce has announced the addition of two popular series, Greenleaf and Everybody Hates Chris. Greenleaf will air on Sundays at 8:00 p.m. starting October 4, while Everybody Hates Chris will debut on weeknights at 7:00 p.m. beginning October 5. The network has licensed all five seasons of Greenleaf, which has won multiple NAACP Image Awards. Additionally, actor Gregory Alan Williams joins the cast of Saints & Sinners for its fifth season slated for 2021. Bounce is part of The E.W. Scripps Company (NASDAQ: SSP).
The E.W. Scripps Company (NASDAQ: SSP) announced its acquisition of ION Media for $2.65 billion, aimed at forming a robust national television networks business. The deal is expected to generate $500 million in synergies over six years, with ION reaching over 100 million homes and boasting significant revenue growth. Berkshire Hathaway will invest $600 million in preferred equity to finance the transaction. This strategic move positions Scripps to enhance advertising reach and capitalize on evolving media consumption trends.
The Scripps Howard Foundation is investing up to $1.5 million to establish the Roy W. Howard Fellowships, aimed at aspiring investigative journalists from the Howard Centers for Investigative Journalism at Arizona State University and the University of Maryland. Commencing in January 2021, the program will support up to 30 fellows over three years, with each fellow working for a nonprofit news organization. The fellowships will include salary support, relocation stipends, and training funding, reflecting the Foundation’s commitment to enhancing journalism education and professional development.
Court TV has launched in the United Kingdom on Sky Television Channel 179, expanding its reach from the U.S. The channel offers live coverage of high-profile U.S. criminal trials, airing daytime proceedings during U.K. primetime. Notable upcoming trials include the cases of George Floyd, Ahmaud Arbery, and R. Kelly. The launch coincides with the 25th anniversary of the O.J. Simpson verdict, featuring a marathon of the series 'OJ25'. This strategic move aims to capitalize on the growing global interest in true-crime content, as stated by CEO Jonathan Katz.
Stitcher has launched More Sauce, a podcast network aimed at empowering Black voices and promoting authenticity in storytelling. The network debuts with new shows including The Salon and Porsha4Real, following successful programs like Imani State of Mind. Executive Producer T. Square emphasizes the importance of showcasing diverse experiences in podcasting. More Sauce will also collaborate with Issa Rae's Raedio to enhance content with curated music and sound design, and aims to provide a platform for discussions on lifestyle, love, and culture.
FAQ
What is the current stock price of The E.W. Scripps Company (SSP)?
What is the market cap of The E.W. Scripps Company (SSP)?
What does The E.W. Scripps Company do?
How many television and radio stations does Scripps own?
What are some of Scripps' notable digital media properties?
What recent achievements has Scripps accomplished?
What is Scripps' historical motto?
What major educational program does Scripps steward?
Who are some of Scripps' strategic partners?
What is the financial condition of Scripps as of the end of 2023?
What are some of the key entertainment networks owned by Scripps?
What are some recent financial strategies employed by Scripps?
