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Overview of The E.W. Scripps Company (NASDAQ: SSP)
The E.W. Scripps Company is a leading diversified media organization that operates across multiple platforms, including broadcast television, digital media, and national entertainment networks. Founded in 1878, Scripps has a long-standing commitment to delivering high-quality journalism and entertainment to audiences nationwide. The company’s motto, "Give light and the people will find their own way," reflects its dedication to informing and empowering communities.
Core Business Segments
Scripps operates through two primary segments:
- Local Media: This segment encompasses more than 60 local television stations across 40+ markets in the United States. These stations include affiliates of major networks such as ABC, NBC, CBS, and FOX, as well as independent and low-power stations. Local Media generates revenue through advertising sales, retransmission fees, and digital operations, serving as a trusted source of news, weather, and community information.
- Scripps Networks: This segment includes national news outlets such as Scripps News and Court TV, alongside entertainment brands like ION, Bounce, Grit, ION Mystery, and Laff. These networks reach nearly every U.S. household through over-the-air broadcasts, cable, satellite, and digital platforms. Revenue is primarily derived from advertising sales and content distribution agreements.
Key Offerings and Partnerships
Scripps is known for its innovative approach to content delivery and strategic partnerships:
- Sports Programming: Through its Scripps Sports division, the company partners with professional leagues like the NHL, WNBA, and NWSL to broadcast games and related content. Recent agreements include deals with the Florida Panthers and Vegas Golden Knights, enhancing its portfolio of live sports programming.
- National Programming: Scripps produces and distributes popular shows such as "The List" and "The Now," and operates award-winning investigative journalism teams.
- Educational Initiatives: The company is the long-time steward of the Scripps National Spelling Bee, the nation’s largest and most successful educational program.
Market Position and Competitive Landscape
Scripps is one of the largest independent owners of local TV stations in the U.S., reaching nearly 20% of American households. It competes with other media conglomerates by emphasizing local journalism, free over-the-air broadcasting, and digital innovation. Its commitment to objective reporting and community engagement sets it apart in a crowded media landscape.
Revenue Streams and Business Model
The company’s revenue is driven by:
- Advertising: Local and national advertisers leverage Scripps’ platforms to reach targeted audiences.
- Retransmission Fees: Payments from cable and satellite providers for carrying Scripps’ local stations.
- Content Licensing: Distribution agreements for its national networks and digital platforms.
Commitment to Journalism and Public Service
Scripps has a deep-rooted commitment to journalism, as evidenced by its award-winning investigative reporting and initiatives like National News Literacy Week. The company also prioritizes public service through its local news coverage, emergency weather alerts, and community programming.
Conclusion
As a pioneer in the media industry, The E.W. Scripps Company continues to adapt to changing audience preferences while maintaining its focus on quality journalism and innovative content delivery. Its diverse portfolio, strategic partnerships, and commitment to public service make it a significant player in the U.S. media landscape.
The E.W. Scripps Company (NASDAQ: SSP) has launched its annual "If You Give a Child a Book ..." campaign, raising funds to provide books to children from low-income households. Over four years, the Scripps Howard Foundation has donated over 352,000 books. This year, donations from local markets will be matched up to $5,000 by Scripps family members, and the first $50,000 from national brands will be matched by The Kroger Co. Foundation. The campaign runs until September 11, 2020, with a mission to enhance childhood literacy and support community education.
Bounce, an entertainment network for African Americans, announced a partnership with the NAACP to live stream the 2020 Virtual March on Washington on August 27-28, commemorating the anniversary of Dr. Martin Luther King Jr.'s historic speech. This event will feature prominent speakers like Rev. William Barber II and performances by artists such as H.E.R. and Macy Gray. The initiative emphasizes the need for policy changes to combat police brutality and racial discrimination, while promoting voter engagement through the 'Your Vote, Your Voice' campaign.
Court TV announced the premiere of a new true-crime series, Judgment With Ashleigh Banfield, debuting Sept. 13, 2020, which will explore high-profile trials with exclusive interviews. Michael Ayala returns as an anchor on Aug. 24, joining the team of experienced anchors. The network will also air a special marathon of the OJ25 docuseries, commemorating the 25th anniversary of O.J. Simpson's trial, on Oct. 3-4. Court TV, part of Katz Networks and the E.W. Scripps Company (NASDAQ: SSP), offers extensive legal coverage across multiple platforms.
Court TV has announced its coverage of significant upcoming trials, including the cases of George Floyd, Ahmaud Arbery, Robert Durst, and R. Kelly. These cases reflect critical issues in modern society, such as race relations and criminal justice. Court TV promises unparalleled access and expert insights, led by a team of experienced legal professionals. The network is accessible through multiple platforms, including live streaming on CourtTV.com and popular streaming devices, ensuring widespread viewership.
Bounce, the first broadcast network for African Americans, has unveiled its 2020-21 original programming slate, featuring new comedies, movies, and a true crime docuseries. Highlights include two new comedy series by Cedric The Entertainer, the U.S. premiere of Killing Michael Jackson on Sept. 7, and the renewal of Saints & Sinners for a fifth season in Spring 2021. Other notable content includes inspiring original movies like A Chance in the World and the documentary Dying To Be Famous. Bounce is part of The E.W. Scripps Company (NASDAQ: SSP).
The E.W. Scripps Company (NASDAQ: SSP) has announced a cash dividend for Q3 2020, set at 5 cents per share. Shareholders on record by Sept. 15, 2020, will receive this dividend, payable on Sept. 25, 2020. The payment will come out of the company’s surplus funds. Operating as the fourth-largest independent TV station owner in the U.S., Scripps serves audiences through multiple platforms including Newsy and various broadcast networks.
The E.W. Scripps Company (NASDAQ: SSP) announced its Q2 2020 results, reporting a revenue increase to $359 million, up 12% from the previous year. However, the company faced a loss from continuing operations of $17.5 million, contrasting with a profit of $5.8 million in Q2 2019. Key developments included the sale of its podcast business, Stitcher, for $325 million, and a 39% decline in core advertising revenue amid COVID-19 impacts. Political ad revenue reached $13.4 million, surpassing expectations, while the company dealt with a distributor blackout with Dish Network.
The E.W. Scripps Company (NASDAQ: SSP) announced that its local television stations in 42 markets are now unavailable to DISH subscribers. This situation arises as Scripps seeks to negotiate a new contract that includes fair terms for both parties, following five months of discussions. President Brian Lawlor emphasized the importance of their programming during critical times, including a global pandemic and severe weather warnings. Scripps, which has never had a blackout with any pay TV distributor since 1947, remains hopeful for a resolution.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Sean Trcalek as the new vice president and general manager of KATC, its ABC affiliate in Lafayette, Louisiana. With over 30 years of experience in broadcasting and sales, Trcalek returns to KATC, where he began his career in 1989. His extensive background includes roles at KADN, KLAF, and major companies like Warner Brothers. Trcalek aims to align KATC's mission with local community needs and enhance its service to Acadiana.
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