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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.
KGTV ABC 10News, owned by The E.W. Scripps Company (NASDAQ: SSP), has been awarded the National Press Foundation's 2024 AARP Award for Excellence in Journalism on Aging for their series 'Cost of Care'. The yearlong investigation focused on the financial and emotional impact of dementia care in the U.S. The reporting has prompted lawmakers at state and federal levels to call for significant changes in support of caregivers. The series, led by Executive Reporter Adam Racusin, was praised by NPF judges for its deep, trustworthy interviews and comprehensive coverage. The reporting team will be honored in Washington, D.C., in February.
The E.W. Scripps Company (NASDAQ: SSP) announced that CFO Jason Combs will participate in a fireside chat at the Noble Emerging Growth Equity Conference (NobleCon20). The session, scheduled for December 3 at 11 a.m. Eastern time, will be held at Florida Atlantic University in Boca Raton, Florida, where Combs will discuss company business strategies with Noble Director of Research Michael Kupinski. While there won't be a live webcast, a replay will be available under the investor information section at www.scripps.com by December 4.
Scripps News (NASDAQ: SSP) is launching a new streaming programming lineup on November 18, following its exit from over-the-air broadcasting on November 15. The network will provide live weekday programming from 7 a.m. to 6 p.m., featuring shows like 'The National Report,' 'Morning Rush,' and 'On the Scene.' Under the leadership of VP Matt Simon, Scripps News has seen a 44% year-over-year growth in streaming viewership. The network will debut special programs including 'In the Shadows with Jason Bellini' and maintain distribution across major streaming platforms including Roku, Fire TV, Apple TV, and various others.
The E.W. Scripps Company (NASDAQ: SSP) has announced the promotion of Teresa Morgan to vice president and general manager for WFTS, their ABC affiliate in Tampa, effective Jan. 1. Morgan, who has been with WFTS since 2003, currently serves as station manager and senior director of sales. She has progressed through various roles at the station, including senior account executive, local sales manager, and director of sales. The company will begin searching for a new director of sales immediately.
The National Women's Soccer League's first season on ION reached 20.5 million total unique viewers, with 13.5 million unique to ION. The network broadcast 50 matches and 53 studio shows, delivering over 130 hours of content. ION achieved the highest female viewership percentage (57% of P25-54) among all networks and attracted 50% of all NWSL viewers. Matches averaged 145,000 viewers per game, peaking at 234,000. The network generated over 3.6 million viewing hours across FAST channels and secured multiple advertising partnerships, including Capital One as presenting sponsor.
The E.W. Scripps Company (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results conference call to 10 a.m. Eastern time on November 4, 2024, due to a technical outage affecting their conference line provider's systems. The company will provide a live webcast accessible through their investor relations website. Investors can join via telephone by dialing (877) 848-7030 with access code 3725517. The call will be available on a listen-only basis for the public, with a replay accessible online after approximately four hours.
E.W. Scripps reported record Q3 2024 revenue of $646 million, up 14% year-over-year, driven by strong political advertising. Income attributable to shareholders was $33 million or $0.37 per share. The company expects full-year political advertising revenue to reach at least $340 million, exceeding previous guidance of $270-$290 million. During Q3, Scripps paid down $115 million of debt, reducing leverage ratio from 6.0x to 5.1x. The Local Media segment revenue grew 26% to $446 million, while Scripps Networks revenue declined 6.4% to $202 million.
E.W. Scripps (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results release to Monday, November 4, before markets open, moving it forward from the previously scheduled date of November 8. The company will host a conference call with senior management at 9 a.m. Eastern time on the same day.
Investors can access the live webcast through the company's investor relations website, while telephone access requires the access code 739969. A replay will be available from 12:30 p.m. Eastern time November 4 until midnight December 4, with both domestic and international dial-in options.
Court TV's new series 'Interview With a Killer' premiered on October 20, 2024, achieving record-breaking viewership as the network's most-watched original series debut. The show saw a 50% increase in Persons 2+ and 60% increase in P25-54 viewers, surpassing the previous record held by 'Someone They Knew With Tamron Hall'. Hosted by award-winning investigative reporter David Scott, the series features face-to-face interviews with five convicted murderers inside high-security prisons. New episodes air Sunday nights at 8 p.m., covering cases including honor killings, catfishing murders, and teenage crimes.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Matt Simon as vice president of Scripps News. Simon, currently deputy managing editor and senior executive producer, will lead the vision and editorial direction of Scripps News' national operations. The announcement comes as Scripps plans to end over-the-air broadcasting of Scripps News on Nov. 15, while maintaining its presence on streaming and digital platforms. Simon will report to Dean Littleton, focusing on integrating local and national news teams. The service will continue to be available through the Scripps News app, ScrippsNews.com, and various streaming platforms.
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