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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 E.W. Scripps Company (NASDAQ: SSP) reported minimal impact from a global IT outage that occurred overnight. Despite the incident, the majority of Scripps' 40+ local news operations maintained uninterrupted broadcasts, with none going completely off-air. Scripps News experienced only a brief 10-minute interruption. By 8 a.m. EDT, most stations resumed local news broadcasts, and all were operational by noon.
The company's swift recovery and the overnight timing of the outage resulted in no significant effect on advertising revenue. This demonstrates Scripps' resilience and effective crisis management in maintaining its broadcasting operations and protecting its revenue streams during unexpected technical challenges.
The E.W. Scripps Company (NASDAQ: SSP) announced it will report its second-quarter 2024 operating results after the market closes on Thursday, Aug. 8. A conference call with senior management is scheduled for 9:30 a.m. Eastern time on Friday, Aug. 9, with a live webcast available on the company's investor relations website. The call can be accessed via phone with specific access codes provided. A replay of the call will be available both by phone and online from Aug. 9 to Sept. 9. Contact details for media and investor inquiries were also provided.
On July 11, 2024, the Society of Professional Journalists awarded KNXV-ABC15, owned by The E.W. Scripps Company (NASDAQ: SSP), the 2023 Sigma Delta Chi Award for excellence in journalism. Chief Investigative Reporter Dave Biscobing and the ABC15 Investigators won in the television investigative reporting (large market) category for their series 'Too Unwell to Testify.' The series uncovered evidence mishandling by Phoenix homicide detective Jennifer DiPonzio, who falsely claimed illness to avoid accountability.
The investigation revealed DiPonzio's ability to work other jobs and travel while claiming to be too sick to testify. ABC15's reporting led to significant actions, including the Department of Justice's involvement, the Arizona Peace Officer Standards and Training Board's investigation, and DiPonzio's loss of police certification. The series also impacted court rulings and post-conviction appeals.
This recognition marks the second consecutive year that ABC15 and Biscobing have received a Sigma Delta Chi Award. The 2022 series 'The Secrets They Keep' won in the public service category.
Court TV is gearing up for extensive coverage of Alec Baldwin's trial, starting on July 9, 2024, in Santa Fe, New Mexico. The trial, involving charges of involuntary manslaughter in the death of 'Rust' cinematographer Halyna Hutchins, will be broadcast live by Court TV. The network will serve as the pool feed provider, ensuring broad media access. Coverage will be led by anchors Vinnie Politan and Ted Rowlands, along with correspondents Matt Johnson and Kelly Krapf. A key feature includes an exclusive documentary, 'The Case Against Alec Baldwin,' which delves into the incident and the ensuing legal battles. Court TV aims to offer in-depth analysis and expert commentary from seasoned legal professionals, investigators, and forensic experts throughout the trial.
The Florida Panthers and Scripps Sports have signed a multi-year agreement to broadcast the team's games. This deal covers the Miami/Fort Lauderdale, West Palm Beach, and Fort Myers regions. The games will air on WSFL-TV (channel 39) in Miami/Fort Lauderdale and WHDT-TV (channel 9) in West Palm Beach, with Fort Myers' channel to be announced. The agreement includes broadcasting preseason, regular-season, and round one postseason games via cable, satellite, and over-the-air television.
A new direct-to-consumer application will be launched before the 2024-2025 season for live streaming, with more details forthcoming. Scripps Sports will also produce pregame, in-game, and postgame shows, and a weekly Panthers program. Financial terms are undisclosed, but the deal has NHL approval. The partnership aims to make Panthers hockey more accessible and grow the sport in South Florida.
The new Bounce TV original series 'Mind Your Business' made a record-breaking debut, reaching over 2 million households during its premiere weekend on June 1-2, 2024. This makes it the most-watched original series premiere in Bounce TV history. The 10-episode first season airs on Saturday nights throughout the summer. 'Mind Your Business' follows the story of the Williams family, who manage an event space in Chicago. The cast includes Columbus Short, Drew Sidora, Rolonda Watts, and Bebe Winans. The series is produced by Harvest Studios and executive produced by Bentley Kyle Evans.
WorkingNation and Scripps News are collaborating to release a special titled “Breaking Barriers: Embracing Age in the Workforce,” airing on June 21 at 9 p.m. ET. This is the second installment of WorkingNation's Emmy-nominated series, aiming to address ageism in the workplace. The initiative is part of a week-long program called “Age in America.”
Key figures like Dianne Primavera, Carly Roszkowski, Diana Caba, and Taylor McLemore will participate in roundtable discussions. The special highlights the critical issue of ageism, emphasizing the contributions of workers over 55, who bring key skills and stability to the workplace. Despite their value, many older workers face stereotypes and are underrepresented in workforce development programs.
The program is funded by the Ares Charitable Foundation and represents the first of many collaborations between WorkingNation and Scripps News to explore future work solutions and address job skills gaps.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Charlie Grisham as the new vice president and general manager of WRTV, an ABC affiliate in Indianapolis, effective June 10, 2024.
Grisham brings a wealth of experience from his previous role as vice president and general manager of WSIL-TV in Carterville, Illinois, where he led the station to achieve record revenue and ratings growth. His extensive background includes roles in sales management and content development at KSDK-TV, KUSI-TV, and Bitcentral, as well as on-air roles and a military career as a meteorologist in the U.S. Air Force.
Grisham holds an MBA from the University of Phoenix and a Bachelor of Science in atmospheric sciences from Creighton University. He has also been active in community initiatives, notably co-founding Give SI, which has raised nearly $1 million for local nonprofits since 2020.
On May 30, 2024, Bruhat Soma, a 12-year-old from Tampa, Florida, emerged as the champion of the 2024 Scripps National Spelling Bee. Soma set a new spell-off record by correctly spelling 29 out of 30 words. His winning word was 'abseil,' a mountaineering term.
Adam Symson, CEO of The E.W. Scripps Company (NASDAQ: SSP), awarded Soma the championship trophy. The champion also received a total of $54,250 in cash prizes and other awards from Scripps, Merriam-Webster, Encyclopædia Britannica, SugarBee Apple, and Scholastic.
Soma's competitors, Faizan Zaki and Shrey Parikh, placed second and third, respectively, with Zaki receiving $25,000 and Parikh $12,500. The event was held at the Gaylord National Resort & Convention Center in Maryland and featured 245 participants.
The new Bounce TV original series 'Mind Your Business' premieres this Saturday, June 1, at 8 p.m. ET with back-to-back episodes. The show centers on the Williams family, who run an event and party space in Chicago. The business, initially hard-hit by the pandemic, is revived by Lucille Williams' brother, Henry, and his fraternal twins, Aaliyah and Alfonso, who bring their creative and business minds together. The cast includes Columbus Short, Drew Sidora, Rolonda Watts, and Bebe Winans. The 10-episode season will air throughout summer, concluding before the return of the hit series 'Johnson' on August 3.
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