The E.W. Scripps Company

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  • Aug. 6, 2015, 5:30 PM
    | Aug. 6, 2015, 5:30 PM | 5 Comments
  • Jul. 22, 2015, 2:15 PM
    • Publisher E.W. Scripps (SSP +0.6%) has acquired podcast firm Midroll Media, home network for brands including Nerdist, WTF with Marc Maron and StartUp.
    • Midroll operates an ad network representing other podcasts, including Neil DeGrasse Tyson's Startalk and Girl on Guy with Aisha Tyler.
    | Jul. 22, 2015, 2:15 PM
  • Jul. 16, 2015, 7:45 PM
    • After the past year's detailed negotiations with affiliates to get on board CBS All Access, the streaming service has built some significant recent momentum.
    • The service is available in 124 markets -- about 75% of the country -- due to participation from about 40 affiliate groups added on to CBS-owned stations. (The live local offering is available in 59 markets reaching a little more than half the country; other markets still have 7,000 episodes on demand.)
    • Recent deals with Media General (NYSE:MEG), Scripps (NYSE:SSP), and Sinclair (NASDAQ:SBGI), among others, will bring CBS All Access to markets including Portland, Ore.; Nashville, Tenn.; and Cincinnati, among others.
    | Jul. 16, 2015, 7:45 PM
  • May 8, 2015, 5:28 PM
    • E.W. Scripps (NYSE:SSP) finished down 0.8% today after its first quarterly report as primarily a TV-station holder, following its merger/spinoff with the now-Journal Media Group.
    • The transaction reduced EPS by about $0.07; the company recorded a loss of $0.09/share.
    • Newspaper operating revenues fell 7.1%, to $91.5M, but the operation grew profit to $9.1M from $8.6M.
    • Television operating revenues were up 17% to $120M, driven by retransmission revenue that more than doubled, along with revenue from two stations acquired from Granite last year.
    • On April 30, the company had cash and equivalents of $123M against debt of $409M.
    • Beginning next quarter, the company will report in four segments: Television, radio, digital, and syndication and other.
    | May 8, 2015, 5:28 PM
  • May 8, 2015, 8:09 AM
    • E.W. Scripps (NYSE:SSP): Q1 EPS of -$0.09
    • Revenue of $214.5M (+5.3% Y/Y) in-line.
    | May 8, 2015, 8:09 AM
  • May 7, 2015, 5:30 PM
    | May 7, 2015, 5:30 PM | 7 Comments
  • Apr. 1, 2015, 7:29 PM
    • As planned, E.W. Scripps (NYSE:SSP) wrapped its merger/spinoff with Journal Communications (NYSE:JRN) today, making Scripps one of the country's biggest indie TV station owners, with more than 30 stations.
    • Scripps shareholders received a $1.0297/share cash dividend along with 0.25 shares in the new newspaper entity, Journal Media Group (Pending:JMG), for each Scripps share they held.
    • Journal Communications, meanwhile, terminates trading as its class A and B shareholders get 0.5176 Scripps A shares and 0.195 JMG shares for each JRN share they held.
    • The new JMG settled into regular-way trading today at $8.80 after trading 572K shares.
    | Apr. 1, 2015, 7:29 PM
  • Apr. 1, 2015, 12:45 PM
    | Apr. 1, 2015, 12:45 PM
  • Mar. 30, 2015, 12:03 PM
    • E.W. Scripps (NYSE:SSP) is up 2.4% after setting $60M up for the special dividend associated with its merger/spinoff with Journal Communications (JRN +2.5%).
    • As expected, the closing date for the transaction is this Wednesday, April 1.
    • When-issued trading is under way for Journal Media Group (JMG -0.4%), the resulting spinoff ticker that will hold the newspaper assets from JRN and SSP.
    | Mar. 30, 2015, 12:03 PM
  • Mar. 30, 2015, 10:17 AM
    • E.W. Scripps (NYSE:SSP) declares $1.0297/share special dividend.
    • Payable April 1; for shareholders of record March 25; ex-div March 23.
    | Mar. 30, 2015, 10:17 AM
  • Mar. 23, 2015, 9:12 AM
    • Paul Scripps is retiring from the board of E.W. Scripps (NYSE:SSP) after nearly 30 years at the end of his term in May, the company announced.
    • The company is nominating Charles Barmonde, the founder's great-great-grandson, to run for the seat.
    • SSP holds its annual meeting May 4.
    | Mar. 23, 2015, 9:12 AM
  • Mar. 13, 2015, 4:41 PM
    • With their merger and business spinoffs approved by shareholders, E.W. Scripps (SSP +2.4%) and Journal Communications (JRN +2.1%) have set related record dates around the transaction.
    • Shareholder in both companies of record as of the close of March 25 will receive shares in the new entity, Journal Media Group (Pending:JMG), which will hold the two companies' newspaper assets from here. The share transfer is effective with the closing of the transactions, expected April 1.
    • As for a special $60M cash dividend for Scripps (about $1/share), it will go to Scripps shareholders of record as of the close of March 25.
    • When-issued trading for JMG starts March 23, and Scripps A shares will trade from that date on an "ex-distribution" and "when-issued" basis.
    • Previously: After merger vote, Scripps gets credit upgrade from S&P (Mar. 11 2015)
    • Previously: Scripps, Journal Communications shareholders OK merger/spinoff (Mar. 11 2015)
    | Mar. 13, 2015, 4:41 PM
  • Mar. 11, 2015, 6:47 PM
    • Following shareholder approval of its merger with Journal Communications (NYSE:JRN), E.W. Scripps (NYSE:SSP) has been upgraded by credit rater S&P -- though its credit still isn't great.
    • The ratings agency changed Scripps' business risk profile to "fair," an upgrade from "weak," due to improvements in scale and operating profitability from taking on Journal's 15 TV stations and 35 radio stations.
    • The move means Scripps exits S&P's CreditWatch list.
    • The agency also raised SSP's corporate credit rating to BB from BB-, and its senior secured debt rating to BBB- from BB+.
    • Today: SSP flat; JRN +0.2%.
    • Previously: Scripps, Journal Communications shareholders OK merger/spinoff (Mar. 11 2015)
    | Mar. 11, 2015, 6:47 PM
  • Mar. 11, 2015, 11:57 AM
    • Shareholders of E.W. Scripps (SSP +0.2%) and Journal Communications (JRN 0.4%) have signed off on the two companies' merger/spinoff plans.
    • With no remaining regulatory or shareholder approvals, the deal is setting up for an early Q2 close.
    • The two will combine their broadcast and digital media assets under a company retaining the E.W. Scripps name, and put their newspapers and community publications and related digital products into a firm to be called Journal Media Group.
    • The two will trade on NYSE under the symbols SSP (for Scripps) and JMG (for Journal Media Group).
    • Scripps shareholders will also get a $60M special dividend from the deal, with details to come Friday.
    • Previously: Newspapers provide headwind for Scripps' Q4 earnings (Mar. 04 2015)
    • Previously: Gabelli expects Journal-Scripps combo despite his opposition (Feb. 19 2015)
    | Mar. 11, 2015, 11:57 AM
  • Mar. 4, 2015, 8:58 AM
    • E.W. Scripps (NYSE:SSP) posted lackluster earnings for Q4 as TV results boosted by midterm political ads couldn't shake the drag from newspapers.
    • The company missed on top and bottom lines. Income from operations before taxes of $18.1M, up from $7.1M. EPS of $0.27 was impacted by acquisition-integration costs and write-offs totaling about $0.11/share.
    • Revenue breakouts: Television, $147M (up 28%); Newspapers, $95M (down 7.9%); Shared services/corporate (includes investment in digital ops), $15.1M (up 2%).
    • Cash and equivalents at year's end of $158M vs. total debt of $198M.
    • Along with shareholders of Journal Communications (NYSE:JRN), the company is set for a March 11 vote to merge and combine their broadcast operations in one company (to be called E.W. Scripps) and newspaper ops in the other (to be called Journal Media Group).
    • The company isn't providing guidance (and hasn't been repurchasing shares) due to the Journal transaction.
    • Conference call at 9 a.m. ET.
    | Mar. 4, 2015, 8:58 AM
  • Mar. 4, 2015, 7:32 AM
    • E.W. Scripps (NYSE:SSP): Q4 EPS of $0.27 misses by $0.13.
    • EPS of $0.38 excluding acquisition-integration costs and investment write-offs.
    • Revenue of $245.73M (+11.3% Y/Y) misses by $3.03M.
    | Mar. 4, 2015, 7:32 AM
Company Description
The E W Scripps Co is a media enterprise with interests in television stations, newspapers, and local and national digital media sites. It operates in three segments namely television, newspaper and syndication.