Fri, May 6, 11:46 AM
- E.W. Scripps (NYSE:SSP) is up 9.8% and touching its highest point in six weeks after Q1 earnings beat expectations and revenues from continuing operations showed strong growth.
- Retransmission revenue nearly doubled, and election-year advertising began to ramp up in key states (Ohio, Florida, Michigan, Nevada, Wisconsin). "We continue to be optimistic that the two candidates will require significant television advertising in order to educate and inform voters of their choices."
- Revenue by segment: Television, $179.9M (up 57.5%); Radio, $14.6M; digital, $12.3M (up 97.7%); syndication and other, $2.67M (up 3.7%).
- Cash and equivalents were $96M at quarter's end, and total debt a $398M.
- For Q2, the company is guiding to TV revenues up 15-18%, radio revenues down in the mid-single digits, and digital revenues up in the high 60% range (incorporating the acquisition of Cracked; which also leads it to expect digital revenue up mid-50% for the full year).
- Conference call link
- Press Release
Fri, May 6, 7:32 AM
Thu, May 5, 5:30 PM
Tue, Apr. 12, 4:18 PM
- News company E.W. Scripps (SSP +1.5%) has acquired youth-focused satire publisher Cracked from Demand Media (DMD +0.8%).
- Scripps is paying $39M in cash. It notes Cracked has a strong youth following, particularly affluent millennial males, and that 50% of its audience goes straight to the site and spends an average of eight minutes on text and video.
- Cracked turned a profit in 2015 on revenue of about $11M. For its part, Demand Media (which acquired Cracked in 2007) says the sale will let it further enhance product quality with a more focused portfolio.
- Now read 4 Radio And Television Stocks To Buy Now »
Wed, Mar. 2, 1:04 PM
- Sling TV has added Newsy -- a millennial-focused live and OTT video news service -- to its lineup.
- The service joins Sling's core $20/month "Best of Live TV" package. Subscribers have immediate access to a "constantly updated" library of on-demand content, and they'll receive Newsy's live stream "in the coming months."
- Newsy is a wholly owned subsidiary of E.W. Scripps (SSP -4.9%).
Mon, Feb. 29, 12:03 PM
- E.W. Scripps (NYSE:SSP) is off 5.1% as analysts come in with downgrades and target cuts after the company's Q4 miss Friday.
- Noble Financial and Benchmark both cut their price targets to $25, still 48% upside from the current price of $16.92. Each of those firms has the stock rated at Buy.
- Meanwhile, Wells Fargo downgraded the stock to Market Perform and cut its target to $19-$21 from a previous $22-$26. "We really like this management team and balance sheet (esp. in a rocky market/macro environment)," says analyst Marci Ryvicker, "but at the moment, we just materially lowered numbers; and we don’t see any company-specific catalysts on the horizon (yes, there is the auction and elections –- but that isn’t SSP-specific)."
- Previously: Scripps records Q4 miss despite acquisition-driven revenue growth (Feb. 26 2016)
Fri, Feb. 26, 8:39 PM
- E.W. Scripps closed down 0.7% after an earnings miss in its Q4 results despite revenues that grew 36%, mainly from acquiring TV and radio stations from Journal Media Group.
- An adjusted net profit again became a headline loss (loss from continuing operations of $21.5M) after a writedown -- in this case, a $45.7M noncash pension settlement charge. Excluding that and acquisition costs of $1M, the company logged $7.8M in profit.
- Operating revenue by segment: Television, $170.5M (up 20.5%); Radio, $19M (new); Digital, $13.2M (up 93.3%); Syndication and other, $2M (down 12.8%).
- Retransmission revenues more than doubled to $35.9M, and a new long-term agreement with Time Warner Cable should increase retrans revenues 50% Y/Y in 2016.
- For Q1, the compay expects TV revenues to grow 11-13% and digital revenue to grow about 45%, while radio revenue should be down in the mid-single digits. Retransmission revenue is forecast for $54M. In the full year, it sees TV revenues growing by about a third, digital gains of more than 40%, and flat radio revenues, and about $220M in retrans revenue (along with $150M-plus in election-year political revenue).
- Press Release
- Related: E. W. Scripps' (NYSE:SSP) CEO Rich Boehne on Q4 2015 Results - Earnings Call Transcript (Feb. 26 2016)
Fri, Feb. 26, 7:37 AM
Thu, Feb. 25, 5:30 PM
Mon, Feb. 22, 2:18 PM
- E.W. Scripps (SSP +3.8%) and Raycom Media are teaming up on programming in the latest initiative by broadcasters to push into original content.
- The companies -- two of the country's biggest broadcasters -- will work to generate programming for their daytime and early evening dayparts, in an environment ripe for new daytime blood and amid ever-rising programming costs. Only one new talk show from a major studio is coming this fall: an NBCUniversal project with Harry Connick Jr.
- The two can reach about 30% of the U.S. together, and hope to distribute the programming wider or add other broadcasters to their project to aim for more of the country.
Mon, Feb. 1, 5:24 PM
- In an increasingly rare drama-free re-signing, Scripps (NYSE:SSP) has struck a multi-year retransmission agreement with Time Warner Cable (NYSE:TWC).
- The deal also covers some Bright House Networks systems for which TWC handles negotiations. It covers stations representing some 3M households in 14 markets.
Thu, Jan. 28, 2:26 PM
- Newsy -- E.W. Scripps' (SSP -1.7%) over-the-top video news offering targeted at millennials -- has set up a bureau in Washington, D.C., one of a number of moves over the past several months to establish its offering heading into a key election year.
- Zach Toombs will lead the D.C. team as Newsy puts a new emphasis on political reporting. It's concurrently launching an interactive "Buying Democracy" video experience to explore the links between donors and candidates.
- The unit has set up teams in Chicago, New York and Cincinnati in addition to its Columbia, Mo., HQ. Newsy is available on seven streaming platforms.
Dec. 16, 2015, 5:52 PM
- As some reports anticipated, a rider has been attached to an omnibus federal spending bill that's set to weaken a 2014 FCC rule covering broadcast ownership restrictions, in a win for local broadcasters like Sinclair (SBGI +3.4%) and Nexstar (NXST +6.8%), as well as Gray Television (GTN +4.3%) and Scripps (SSP +4.7%).
- The FCC had moved on March 31, 2014 to fight market power gathering by companies controlling two stations in a market, particularly by banning "joint sales agreements" that FCC Chairman Tom Wheeler called de facto control.
- The rider would grandfather in JSAs that existed before the 2014 rule change, for a period of 10 years. Among braodcast chains, Sinclair Broadcast Group and Nexstar have been among the more aggressive users of JSAs in growth.
- The National Association of Broadcasters applauded the move: "This provision would allow TV stations to better serve our viewers in smaller markets, and ensure that constituents in those communities continue to have access to numerous free, local programming options.”
- Previously: Report: Congress to ease pending local broadcast ownership restrictions (Dec. 14 2015)
Nov. 20, 2015, 11:12 AM
- E.W. Scripps' (NYSE:SSP) chairman/CEO Richard Boehne has adopted a stock trading plan under rule 10b5-1.
- The pre-arranged plan will provide for selling up to 466,500 shares underlying options beginning Dec. 21 and completed by Feb. 12. The options were granted in February 2008.
- The intent of the sales is to facilitate charitable giving, the company says; as with other 10b5-1s, Boehne won't have any discretion over the sales.
Nov. 6, 2015, 11:19 AM
- E.W. Scripps (NYSE:SSP) has slid today, -6.6%, after a Q3 earnings report where an adjusted break-even result became a $24.4M loss after an impairment charge to its digital business.
- The company says that since it acquired its digital product Newsy, it's seen slow revenue growth despite recent momentum with Apple TV and Comcast's Watchable. Investing in it as an over-the-top platform led Scripps to record an impairment to goodwill.
- Operating revenue by segment: Television, $157.4M (up 35.2%); Radio, $20.4M (new); Digital, $10.9M (up 102.8%); Syndication and other, $972K (down 27.8%).
- For Q4, management sees TV revenue dropping in the low to mid-teens (political revenue expected of $4M vs. $43.9M last year); radio revenue down mid-single digits; and digital revenue up in the mid-30% range.
Nov. 6, 2015, 7:33 AM
- E.W. Scripps (NYSE:SSP): Q3 EPS of $0.02 beats by $0.05.
- Revenue of $189.69M (+54.1% Y/Y) beats by $3.06M.
The E.W. Scripps Co. is a diversified media company, which engages in television and newspaper publishing. Its media businesses provide content and advertising services via Internet. It operates through the following segments: Television, Newspaper, and Syndication and Other. The Television... More
Industry: Publishing - Newspapers
Country: United States
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