E.W. Scripps' Weak Guidance Sends Shares Sharply Lower

| About: The E.W. (SSP)

E.W. Scripps Co. reported its upcoming earnings will badly miss estimates, sending shares sharply lower.ssp Looking ahead, EPS will come in between $0.39-0.43; analyst estimates had been for EPS of $0.52. Shares dropped $2.65, or 5.1%, to $49.51 on the news. Scripps is feeling the sting of a declining print news industry as sales are expected to slide 7% for its newspaper unit. In addition, profits from Scripps Interactive, a network of comparison-shopping websites such as Shopzilla and uSwitch will likely fall by as much as 35%.

• Sources: Press Release, Bloomberg, MarketWatch
• Commentary: Scripps Leaves Traditional Media Behind

• Stocks and ETFs to watch: The E.W. Scripps Company (NYSE:SSP). Competitors: Belo Corp. (NYSE:BLC), Lee Enterprises (NYSE:LEE)

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