Welcome to our dedicated page for The E.W. Scripps Company news (Ticker: SSP), a resource for investors and traders seeking the latest updates and insights on The E.W. Scripps Company stock.
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.
Robin Davis has been appointed senior vice president and chief distribution officer for The E.W. Scripps Company (NASDAQ: SSP), effective immediately. Davis, who joined Scripps in 2005, has held various strategic and financial leadership positions. Most recently, she was the senior vice president for strategy, planning, and development, where she spearheaded growth strategies and corporate development, including significant acquisitions like Newsy, Journal Communications, Katz Networks, and ION.
Her leadership has expanded Scripps' portfolio from 10 local TV stations in 2010 to over 60 stations today. As the new chief distribution officer, Davis will manage distribution across multiple platforms, including cable, satellite, and virtual carriers. Adam Symson, Scripps CEO, expressed confidence in her ability to maximize the value of Scripps' distribution platforms.
Davis holds a bachelor's degree in business administration from Saint Louis University and is a certified public accountant.
Scripps News has won two national journalism awards for its investigation titled "Scripps News Investigates: Ukraine's Stolen Orphans." This report, led by international correspondent Jason Bellini, highlights the plight of Ukrainian orphans abducted and transported to Russia during the ongoing war. The investigation received a Deadline Club Award for National TV Series or Investigative Reporting and a New York Press Club Journalism Award for national continuing coverage in television. The report has also sparked a sense of urgency to rescue Denys, one of the central figures, with Bellini exclusively covering his story over two years. The awards were announced at events in May and June 2024.
The E.W. Scripps Company (NASDAQ: SSP) has promoted Jeff Kiernan to vice president of local news, effective June 10. Kiernan will collaborate with Kate O'Brian, Scripps' president of news, on local news content strategy. He has been the VP and GM of Scripps' Las Vegas stations KTNV and KMCC since 2022. Kiernan's extensive experience includes roles at WXYZ, WMYD, WTMJ, WBBM-TV, WBZ-TV, and WCCO-TV. This promotion aligns with Scripps' strategy to unify local and national news under one structure, led by O'Brian. Anita Helt will serve as interim GM for KTNV and KMCC.
WTVF Nashville's investigation into Tennessee mayoral candidate wins prestigious Peabody Award. The investigation exposed mayoral candidate Gabrielle Hanson's white supremacist ties and other background questions. WTVF's investigative team uncovered inconsistencies and revelations about Hanson during the 2023 elections. Peabody judges highlighted the trail of hypocrisy and deceit in Hanson's campaign. The Peabody Awards recognize stories reflecting social issues and emerging voices. Phil Williams received his fourth Peabody Award for this investigation. Williams' reporting is commended for its impact on the local community.
The E.W. Scripps Company (NASDAQ: SSP) reported $561 million in revenue for Q1 2024. Loss attributable to shareholders was $12.8 million. Scripps expects political advertising revenue for 2024 to be $240-$270 million. The company is exploring a sale of Bounce TV network. Operating performance was boosted by political advertising and expense management. Scripps Networks showcased women's sports programming and journalism. NWSL season kickoff on ION attracted new viewers. Scripps aims to reduce debt levels and leverage, benefit from political advertising, and sale of assets.
The 2024 Scripps National Spelling Bee will host 245 spellers at the Gaylord National Resort & Convention Center in Maryland from May 28-30. The field includes former finalists and national participants, with competitors ranging from 8 to 15 years old. The event will feature spellers from all 50 states, with Texas having the largest representation. The Bee will be broadcast on ION and other Scripps Networks, continuing its success in viewership. Special recognitions will be awarded to outstanding individuals in education and volunteering.
In the second season of broadcasting WNBA games on ION, Scripps Sports introduces weekly studio shows to complement the State Farm® WNBA Friday Night Spotlight. ION will air 43 regular-season games, the largest among broadcast partners, including eight Indiana Fever games featuring 2024 No. 1 draft pick Caitlin Clark. Additionally, a variety of top WNBA teams and players will be showcased throughout the season. The studio shows will include pre-game, halftime, and wrap-up/preview segments, with the regular season commencing on May 14. The studio show will typically start at 7 p.m. ET.
Meredith Delaney has been appointed as the new president and CEO of the Scripps Howard Fund, the philanthropic arm of The E.W. Scripps Company (NASDAQ: SSP). Delaney has a successful track record of increasing donors and fundraising efforts, leading impactful programs such as the childhood literacy campaign. The Fund has seen significant growth under her leadership, with a focus on serving communities and supporting journalism and philanthropic causes.
Scripps News, owned by The E.W. Scripps Company (NASDAQ: SSP), won three National Headliner Awards, including a first-place award for its U.S.-Mexico border patrols documentary. The awards recognize outstanding journalism in various categories like investigative reporting and news video. Judges praised the in-depth coverage and varied perspectives presented in the winning documentaries.
The E.W. Scripps Company (NASDAQ: SSP) has appointed Seth Walters as head of CTV sales, bringing over a decade of streaming TV experience to drive revenue growth. Walters' background includes leadership roles in advanced advertising and partnerships with major studios and networks, positioning him to lead Scripps' go-to-market strategy and enhance revenue across premium brands.
FAQ
What is the current stock price of The E.W. Scripps Company (SSP)?
What is the market cap of The E.W. Scripps Company (SSP)?
What does The E.W. Scripps Company do?
How many television and radio stations does Scripps own?
What are some of Scripps' notable digital media properties?
What recent achievements has Scripps accomplished?
What is Scripps' historical motto?
What major educational program does Scripps steward?
Who are some of Scripps' strategic partners?
What is the financial condition of Scripps as of the end of 2023?
What are some of the key entertainment networks owned by Scripps?
What are some recent financial strategies employed by Scripps?
