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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 Howard Fund has announced finalists for the 71st Scripps Howard Journalism Awards, set to honor excellence in American journalism on October 20, 2024. The prestigious competition received 775 entries across 14 categories, with winners to be revealed during a special program on Scripps News. The awards will distribute $170,000 in prize money to winning news organizations and journalists.
Categories include Excellence in Audio Storytelling, Breaking News, Business/Financial Reporting, Environmental Reporting, and Investigative Reporting, among others. The coveted Impact Award will be chosen from finalists across all categories, honoring journalism with the greatest impact. Additionally, two journalism education awards were announced in partnership with the Association for Education in Journalism and Mass Communication.
The E.W. Scripps Company (NASDAQ: SSP) has promoted Sean Franklin to vice president and general manager for WLEX, their NBC affiliate in Lexington, Kentucky, effective Sept. 16, 2024. Franklin, who has been the station's director of engineering since 2019, brings extensive experience in local media leadership. His career at WLEX spans various roles, including production manager and operations manager. Prior to joining Scripps, Franklin served as vice president of engineering for Cordillera Communications, overseeing a 12-station engineering group. This promotion aligns with Scripps' commitment to fostering employee growth and development within the company.
Court TV has unveiled its fall primetime lineup, featuring new and returning original series. The network's newest show, 'Vinnie Politan Investigates', will air weeknights at 9 p.m. ET, exploring high-profile cases. The second season of 'Victim to Verdict with Ted Rowlands' debuts on September 8 at 8 p.m. ET, covering major moments from recent high-profile cases.
The lineup includes episodes on the Johnny Depp v. Amber Heard civil case, the murder of Ahmaud Arbery, the trial of Kyle Rittenhouse, and the Alec Baldwin 'Rust' case. Court TV will also cover upcoming trials, including those of Sarah Boone and Donna Adelson in Florida, and Richard Allen, the alleged Delphi murderer, in Indiana.
The Scripps Howard Fund is doubling its impact for National Literacy Month on Sept. 4, 2024, by matching the first $175,000 donated to the "If You Give a Child a Book ..." campaign. For every $12 donated, two books are given to a child in need. The campaign, supported by The E.W. Scripps Company (NASDAQ: SSP), focuses on distributing free books to underserved children in kindergarten through third grade.
The Fund brings Scholastic Book Fairs to Title 1 schools, allowing students to choose their own books. In 2023, the campaign raised a record-breaking $1.2 million and has distributed over 1.25 million books since its 2016 launch. The Scripps Howard Fund aims to provide 10 books annually to each student in partnering low-income schools, emphasizing the critical importance of literacy by third grade.
The E.W. Scripps Company (NASDAQ: SSP) has been awarded three prestigious 2024 National Edward R. Murrow Awards for outstanding journalism. Scripps News received two awards in the television network category: one for 'continuing coverage' with 'In Real Life: Injected,' an investigation into ketamine use by paramedics, and another for 'excellence in innovation' with 'Russia's Ghost Fleet,' uncovering covert Russian operations in Ukraine. WTVR in Richmond, Virginia, won in the small-market television category for 'news documentary' with 'Reopen the case: Center Street,' investigating unsolved deaths in Lunenburg, Virginia.
These awards highlight Scripps' commitment to impactful journalism across national and local newsrooms. The winners will be celebrated at the Edward R. Murrow Awards Gala in New York City on October 14, 2024.
The Florida Panthers, reigning NHL Stanley Cup Champions, have partnered with ViewLift to launch a new direct-to-consumer streaming service. This multi-year alliance will allow fans to stream all locally-available games live on major devices, including web, mobile, and connected TV platforms. In collaboration with Scripps Sports, games will also be distributed via local broadcast stations.
The new service aims to enhance fan engagement by offering multiple viewing options, including live game content, on-demand video, and original programs. ViewLift, already working with other NHL teams, will create Panthers-branded properties across multiple platforms. The streaming service will launch for the upcoming season, with more features to be announced later.
The E.W. Scripps Company (NASDAQ: SSP) reported Q2 2024 financial results with $574 million in revenue, down 1.6% year-over-year. The company posted a loss of $13 million or $0.15 per share. Scripps raised its 2024 Local Media election-year political advertising revenue outlook to $270-$290 million, driven by U.S. Senate races and ballot issues. The Scripps Networks' national advertising upfront sales saw low single-digit percent volume increases. Local Media revenue grew 3.6% to $365 million, while Scripps Networks revenue declined 9.7% to $209 million. The company's total debt stood at $2.9 billion as of June 30, 2024.
The E.W. Scripps Company (NASDAQ: SSP) has promoted John Cook to vice president and general manager for KTNV, the Scripps-owned ABC affiliate in Las Vegas, effective Sept. 3, 2024. Cook, previously serving as senior director of sales for WXYZ and WMYD in Detroit, will lead the Las Vegas station, bringing extensive experience in local media and sales leadership.
Cook's background includes roles at Graham Media Group's WDIV in Detroit and experience in direct mail and print advertising sales. He has been recognized for his ability to navigate the changing media landscape and deliver strong revenue results. Cook is also actively involved in industry leadership, serving on the ABC Sales Advisory Board and as a board member of the Better Business Bureau Serving Eastern Michigan.
Bounce TV's hit dramedy 'Johnson' returns for its fourth season on August 3, 2024, airing Saturday nights at 8 p.m. ET/7 p.m. CT. The show, focusing on four best friends sharing the same last name, explores themes of love, self-discovery, and brotherhood, tackling issues like race, mental health, and relationship dynamics.
Produced by A Bird & A Bear Entertainment and Midnight Train Productions, 'Johnson' features an ensemble cast led by Thomas Q. Jones, Deji LaRay, Philip Smithey, and Derrex Brady, with D.L. Hughley. Viewers can catch up on previous seasons through Brown Sugar, Bounce's subscription video-on-demand service.
North Island Credit Union launched a book drive to promote childhood literacy among students in Title 1 schools in San Diego. Partnering with the Scripps Howard Fund and ABC 10News, the drive runs through August 31st and encourages community members to donate new books suitable for kindergarten through elementary school students at any North Island Credit Union branch in San Diego County.
All collected books will benefit students in low-income households, aiming to bridge the literacy gap. The initiative is part of the 'If You Give a Child a Book...' campaign, which has distributed over 1,000,000 books since 2016. Participants can also make monetary donations to purchase books for students.
Additionally, the Credit Union and ABC 10News hold monthly 'mini' book fairs in partnership with the San Diego Council on Literacy, providing free books to students. More information and donation options are available on the Credit Union’s website.
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