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The E.W. Scripps Company - SSP STOCK NEWS

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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The E.W. Scripps Company (NASDAQ: SSP) will report first-quarter 2024 operating results on May 9. The call with the senior management team is scheduled for May 10 at 9:30 a.m. Eastern time. Investors can access the live webcast of the conference call on http://ir.scripps.com/. The conference call can also be accessed by telephone. A replay of the call will be available until June 11. Media and investor contacts are provided for further information.
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State Farm signs a new multiyear agreement to sponsor WNBA and NWSL games on ION, aiming to promote women's sports and increase visibility. The sponsorship has significantly boosted the viewership of WNBA games on ION, attracting millions of viewers and female audiences.
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E.W. Scripps Company (NASDAQ: SSP) nominates Nishat Mehta, a seasoned executive, to its board of directors. Mehta brings extensive experience in consumer research, marketing services, and financial acumen from leading companies. His appointment aims to strengthen Scripps' expansion into new television platforms and technologies.
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Scripps Sports to Launch Weekly NWSL on ION Studio Shows Featuring First-Ever Dedicated Studio Shows for NWSL Matches, Led by Veteran Producers and Analysts. Season Starts on March 16 with Pre-Match, Halftime, Post-Match Shows. Viewers Can Access ION via Streaming Platforms. Scripps Sports to Air 50 of 118 NWSL Matches on National TV. Talent Includes Lisa Carlin, Darian Jenkins, Jessica McDonald, Nicole Denne, JP Dellacamera, Jill Loyden, Maura Sheridan, Jordan Angeli, and More.
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FAQ

What is the current stock price of The E.W. Scripps Company (SSP)?

The current stock price of The E.W. Scripps Company (SSP) is $1.76 as of November 15, 2024.

What is the market cap of The E.W. Scripps Company (SSP)?

The market cap of The E.W. Scripps Company (SSP) is approximately 153.3M.

What does The E.W. Scripps Company do?

The E.W. Scripps Company is a media enterprise focused on delivering quality journalism and information through a diverse portfolio of television, radio, and digital media brands.

How many television and radio stations does Scripps own?

Scripps owns 33 television stations in 24 markets and 34 radio stations in eight markets across the United States.

What are some of Scripps' notable digital media properties?

Scripps' digital media properties include Midroll Media, Newsy, and Weathersphere.

What recent achievements has Scripps accomplished?

In the first quarter of 2024, Scripps delivered $561 million in revenue and saw significant growth in connected TV revenue. The company also received multiple National Headliner Awards and Peabody Awards for its investigative journalism.

What is Scripps' historical motto?

Scripps' historical motto is 'Give light and the people will find their own way'.

What major educational program does Scripps steward?

Scripps is the long-time steward of the Scripps National Spelling Bee, the nation's largest and most successful educational program.

Who are some of Scripps' strategic partners?

Scripps has partnered with State Farm for sponsorships and airs National Women’s Soccer League matches on ION.

What is the financial condition of Scripps as of the end of 2023?

As of the end of 2023, Scripps had $35.3 million in cash and equivalents and a total debt of $3 billion.

What are some of the key entertainment networks owned by Scripps?

Scripps owns entertainment networks such as ION, Bounce, Defy TV, Grit, ION Mystery, and Laff.

What are some recent financial strategies employed by Scripps?

Scripps is focused on reducing debt levels and exploring the sale of strategic assets like the Bounce TV network to further stabilize and grow the company.

The E.W. Scripps Company

Nasdaq:SSP

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153.29M
74.43M
17.39%
80.7%
3.45%
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