Scripps finalizes third major retransmission contract of 2020 with Dish Network renewal

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) announced the completion of a retransmission consent agreement with Dish Network, finalizing its three major cable and satellite distribution contracts for 2020. These agreements cover 42% of Scripps' pay TV households, effectively restoring service after a six-week blackout period. The company's strategy of expanding its TV station footprint through acquiring 27 local stations last year has proven successful, according to CEO Adam Symson. This move reinforces Scripps' financial resilience and growth in the media sector.

Positive

• Successful completion of 3 major retransmission contracts in 2020.
• The agreements cover 42% of Scripps' pay TV households.
• Restoration of service to Dish subscribers enhances customer satisfaction.
• Expansion of TV station footprint with the acquisition of 27 local stations supports long-term growth.

Negative

• None.

CINCINNATI, Sept. 8, 2020 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has signed a new retransmission consent agreement with The Dish Network and has now successfully concluded its three major cable and satellite distribution contracts of 2020.

The three contracts cover 42% of Scripps' pay TV households.

"The successful completion of these deals is an affirmation of the effectiveness of Scripps' strategy to create a more economically durable portfolio with the doubling of our TV station footprint last year through the acquisition of 27 local stations," said Adam Symson, Scripps' president and CEO.

After a six-week blackout period, Scripps concluded its negotiation with Dish on Sept. 6, with service restored that day to Dish subscribers in the 42 markets where Scripps operates television stations.

About Scripps

The E.W. Scripps Company (NASDAQ: SSP) advances understanding of the world through journalism. As the nation's fourth-largest independent TV station owner, Scripps operates 60 television stations in 42 markets. Scripps empowers the next generation of news consumers with its multiplatform news network Newsy and reaches growing audiences through broadcast networks including Bounce and Court TV. Shaping the future of storytelling through digital audio, Scripps owns top podcast company Stitcher and Triton, the global leader in technology and measurement services. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."

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SOURCE The E.W. Scripps Company

FAQ

What recent agreement did E.W. Scripps Company sign with Dish Network?

E.W. Scripps Company signed a retransmission consent agreement with Dish Network, finalizing their major distribution contracts for 2020.

What percentage of pay TV households does Scripps' agreement cover?

The retransmission consent agreements cover 42% of Scripps' pay TV households.

When was the blackout period for Dish subscribers resolved?

The blackout period for Dish subscribers was resolved on September 6, 2020.

How many major distribution contracts has Scripps concluded in 2020?

Scripps has concluded three major distribution contracts in 2020.

What is the impact of Scripps' agreements on its business strategy?

The agreements affirm Scripps' effective strategy to strengthen its economically durable portfolio and expand its market presence.