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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.
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.
The E.W. Scripps Company (NASDAQ: SSP) will announce its second-quarter 2020 operating results before the market opens on August 7, 2020. A conference call with senior management will take place at 9:30 a.m. Eastern time on the same day, which will be available via live webcast. Access details include a domestic dial-in number at (877) 226-8216 and an international number at (409) 207-6983, using access code 5646140. A replay of the call will be accessible from 12:30 p.m. Eastern on August 7 until midnight on August 21.
The E.W. Scripps Company (NASDAQ: SSP) has agreed to sell its podcast business, Stitcher, to SiriusXM for $325 million, resulting in over a 2x return on its investment over five years. The deal includes $265 million in cash upfront and potential earnouts based on 2020 and 2021 results. Stitcher's revenue grew at a CAGR of 52% from 2016 to 2019, reaching $72.5 million in 2019. This divestiture will enhance Scripps' EBITDA and aid in debt reduction, aligning with its strategy to capitalize on changing media habits.
The Society of Professional Journalists awarded two investigative pieces from The E.W. Scripps Company (NASDAQ: SSP) as 2019 Sigma Delta Chi Award winners. WKBW in Buffalo, New York, was recognized in the Investigative Reporting category for "The Malone Recordings," which unveiled cover-ups within the Catholic Diocese. Additionally, KNXV in Phoenix received the Public Service in Television Journalism award for its series "Abuse of Force," exposing misconduct in a local police department. Winners were announced on June 26, 2020, selected from nearly 1,200 submissions.
Court TV has launched its first serialized podcast series titled Murder and the Menendez Brothers: A Court TV Mystery on June 23, 2020. The podcast delves into the infamous murder case of Jose and Kitty Menendez, committed by their sons Erik and Lyle, exploring significant trial events. Hosted by Vinnie Politan, new episodes will be released every Tuesday for six weeks. Available on multiple platforms including Stitcher and Spotify, this series revives the high-profile Menendez case that shaped Court TV's early popularity.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Ramon Pineda as vice president and general manager of its operations in Corpus Christi, Texas, effective June 29, 2020. With over 30 years in broadcasting and sales, Pineda previously served as president and regional director at Univision Communications. He has held notable roles at various stations including KTVW and WXTV. Local Media President Brian Lawlor praised Pineda's skills and community commitment. Pineda aims to expand KRIS's audience and deepen connections with the Corpus Christi community.
Court TV has announced a new original news special titled Black and Blue, scheduled to air on June 22 at 8:00 p.m. ET. This hour-long program will delve into the criminal justice system's historical relationship with African Americans, examining issues such as police-targeting practices and the implications of controversial laws. The special will feature discussions with notable figures, including lawyer David Otunga and activist Marissa Alexander, alongside coverage of high-profile cases like those of George Floyd and Trayvon Martin. It's a critical exploration of ongoing racial issues in the justice system.
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