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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 National Women's Soccer League's first season on ION reached 20.5 million total unique viewers, with 13.5 million unique to ION. The network broadcast 50 matches and 53 studio shows, delivering over 130 hours of content. ION achieved the highest female viewership percentage (57% of P25-54) among all networks and attracted 50% of all NWSL viewers. Matches averaged 145,000 viewers per game, peaking at 234,000. The network generated over 3.6 million viewing hours across FAST channels and secured multiple advertising partnerships, including Capital One as presenting sponsor.

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The E.W. Scripps Company (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results conference call to 10 a.m. Eastern time on November 4, 2024, due to a technical outage affecting their conference line provider's systems. The company will provide a live webcast accessible through their investor relations website. Investors can join via telephone by dialing (877) 848-7030 with access code 3725517. The call will be available on a listen-only basis for the public, with a replay accessible online after approximately four hours.

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E.W. Scripps reported record Q3 2024 revenue of $646 million, up 14% year-over-year, driven by strong political advertising. Income attributable to shareholders was $33 million or $0.37 per share. The company expects full-year political advertising revenue to reach at least $340 million, exceeding previous guidance of $270-$290 million. During Q3, Scripps paid down $115 million of debt, reducing leverage ratio from 6.0x to 5.1x. The Local Media segment revenue grew 26% to $446 million, while Scripps Networks revenue declined 6.4% to $202 million.

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E.W. Scripps (NASDAQ: SSP) has rescheduled its third-quarter 2024 operating results release to Monday, November 4, before markets open, moving it forward from the previously scheduled date of November 8. The company will host a conference call with senior management at 9 a.m. Eastern time on the same day.

Investors can access the live webcast through the company's investor relations website, while telephone access requires the access code 739969. A replay will be available from 12:30 p.m. Eastern time November 4 until midnight December 4, with both domestic and international dial-in options.

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Court TV's new series 'Interview With a Killer' premiered on October 20, 2024, achieving record-breaking viewership as the network's most-watched original series debut. The show saw a 50% increase in Persons 2+ and 60% increase in P25-54 viewers, surpassing the previous record held by 'Someone They Knew With Tamron Hall'. Hosted by award-winning investigative reporter David Scott, the series features face-to-face interviews with five convicted murderers inside high-security prisons. New episodes air Sunday nights at 8 p.m., covering cases including honor killings, catfishing murders, and teenage crimes.

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The E.W. Scripps Company (NASDAQ: SSP) has appointed Matt Simon as vice president of Scripps News. Simon, currently deputy managing editor and senior executive producer, will lead the vision and editorial direction of Scripps News' national operations. The announcement comes as Scripps plans to end over-the-air broadcasting of Scripps News on Nov. 15, while maintaining its presence on streaming and digital platforms. Simon will report to Dean Littleton, focusing on integrating local and national news teams. The service will continue to be available through the Scripps News app, ScrippsNews.com, and various streaming platforms.

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The Scripps Howard Fund announced winners of the 71st Scripps Howard Journalism Awards, showcasing impactful journalism across 14 categories. The awards show, hosted by Scripps News anchor Christian Bryant, featured guest appearances from notable journalists. Winners include:

- The Boston Globe for Excellence in Audio Storytelling
- The Associated Press for Excellence in Breaking News
- The New York Times for Excellence in Business/Financial Reporting and Impact Award
- ProPublica for Excellence in National/International Investigative Reporting

The awards highlight journalism's power to change lives and shape the world, from investigations into the Supreme Court's influence to exposés on hidden dangers in medical equipment.

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The E.W. Scripps Company (NASDAQ: SSP) has announced it will report its third-quarter 2024 operating results after market close on Thursday, November 7. A conference call with senior management will follow on Friday, November 8 at 9:30 a.m. Eastern time. Investors and analysts can access the call via webcast at http://ir.scripps.com/ or by phone using the access code 739969.

A replay of the call will be available from 12:30 p.m. Eastern time November 8 until midnight December 8. The replay can be accessed by phone or online. For media inquiries, contact Michael Perry at (513) 259-4718, and for investor relations, contact Carolyn Micheli at (513) 977-3732.

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The Scripps Howard Fund's ninth annual 'If You Give a Child a Book …' campaign is set to invest a record-breaking $1.5 million in childhood literacy. This year's initiative will provide over 260,000 new books to children at low-income schools across the United States. The campaign focuses on reaching underserved children living in poverty, particularly those in kindergarten through third grade.

Supported by The E.W. Scripps Company (NASDAQ: SSP), its employees, communities, and Scripps family members, the campaign also received a 25,000-book donation from Scholastic. Through a partnership with Scholastic, Scripps' local stations and national networks distribute free books during book fairs, allowing children to choose books to take home. The Fund aims to provide 10 books annually to every student in partner Title I schools.

With this year's contributions, the total number of books distributed since 2016 will surpass 1.5 million. The Scripps Howard Fund invested more than $8.7 million in charitable gifts in 2023 for journalism education, childhood literacy, and community giving.

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Court TV announces a new original series, 'Interview With a Killer', premiering Sunday, Oct. 20 at 8 pm ET. Veteran journalist David Scott conducts face-to-face interviews with five convicted murderers, four of whom have not spoken publicly about their convictions. The series, executive produced by Ethan Nelson and Zach Toombs, will air on Sunday nights.

The five-episode series covers various high-profile cases, including:

  • 'A Double Life' (Oct. 20): Brian Steven Smith's secret life as a serial killer
  • 'Honor Killings' (Oct. 27): Yaser Said's first interview since conviction
  • 'Catfishing for Murder' (Nov. 3): Denali Brehmer's exclusive interview
  • 'The Blackout Killer' (Nov. 10): Bo Pete Jeffrey's new story
  • 'Teenage Rage' (Nov. 17): Tyler Hadley's chilling confession

This series is part of Court TV's fall primetime lineup, which also includes 'VPI: Vinnie Politan Investigates' and the second season of 'Victim to Verdict with Ted Rowlands'.

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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 $2.34 as of November 8, 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 192.6M.

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

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