Scripps nominates two new board members

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) has nominated Raymundo H. Granado and Monica O. Holcomb for election to its board of directors.

Granado, a private investor and philanthropist, has been involved in social impact initiatives, while Holcomb has directed the Scripps Family Impact Fund since its inception. They will replace Anne La Dow and Michael Scagliotti, who are stepping down after several years on the board.

The election will take place at the Scripps shareholder annual meeting on May 1. The board's size is expected to remain at 11 members.

Positive

• Granado and Holcomb bring fresh perspectives and experience in social impact and philanthropy.
• Their appointment is expected to strengthen the company's commitment to community investment.

Negative

• The departure of La Dow and Scagliotti may create continuity concerns due to their long tenure.

CINCINNATI, Feb. 20, 2023 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has nominated Raymundo H. Granado and Monica O. Holcomb, two members of the Scripps family, for election to its board of directors.

A private investor and philanthropist, Granado, 43, has spent his career working with companies, nonprofits and foundations invested in social impact and volunteerism. He has been a board member of RightGift – a benefit corporation and technology platform that serves nonprofits – since 2020 and has served as a trustee of the Scripps Howard Fund since 2019. Granado has also been a director of the Scripps Family Impact Fund and board secretary since the organization's inception in 2018 and a charter member of the charitable advisory board to the Adam R. Scripps Foundation.

Holcomb, 48, is founding director of the Scripps Family Impact Fund and a charter member of the charitable advisory board to the Adam R. Scripps Foundation. She has served as director of Miramar Services Inc., since 2019, and is chair of its vision statement committee.

Granado and Holcomb will replace Anne La Dow and Michael Scagliotti, who have informed the company that they will step down from the board when their terms expire in May. All four are great-great grandchildren of the company's founder, E.W. Scripps.

La Dow has served on the Scripps board of directors since 2012. Scagliotti retires from the board after six years of service.

At the May 1 Scripps shareholder annual meeting, Granado and Holcomb will stand for election by Scripps family members as holders of the common voting shares. The number of directors is expected to remain at 11.

Investor contact: Carolyn Micheli, (513) 977-3732, Carolyn.micheli@scripps.com

Media contact: Michael Perry, (513) 259-4718, michael.perry@scripps.com

About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through national news outlets Court TV and Scripps News and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation's largest holder of broadcast spectrum. 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

Who are the newly nominated board members of Scripps?

Raymundo H. Granado and Monica O. Holcomb have been nominated for election.

When will the new board members be elected for SSP?

The election will take place at the Scripps shareholder annual meeting on May 1.

What positions are Granado and Holcomb replacing at Scripps?

They will replace Anne La Dow and Michael Scagliotti, who are stepping down.

What is the significance of the board member nominations for Scripps?

The nominations reflect a strategic decision to enhance community engagement and social impact.