Nov. 5, 2015, 5:30 PM
Oct. 29, 2015, 7:21 PM
- Maintaining a push to keep up with industry moves toward original material, E.W. Scripps (NYSE:SSP) has named Mark Binda senior director of programming for its station group.
- He'll work with the company's station managers to build up original programming and syndication deals. In particular, Binda and programming VP Cater Lee will seek daytime material to add to its shows The List, The Now and RightThisMinute.
- Binda joined Nashville affiliate WTVF in 1985 and he will also continue to serve as program and research director there.
Oct. 27, 2015, 3:31 PM
- Newsy, the over-the-top video news offering owned by E.W. Scripps (SSP -1.4%), is joining the Xumo smart-TV platform as its news content partner.
- Xumo's connected-TV platform will offer Newsy through a channel on the service, Newsy Live, which will offer a continually updated feed of top stories and hourly updates from the newsroom as well as on-demand viewing.
- The move means that Newsy is available now on Xumo as well as Comcast's Watchable, Pluto TV, Roku, and Amazon's Fire TV.
Oct. 7, 2015, 6:51 PM
- E.W. Scripps (NYSE:SSP) picked up 6.1% and rose to its highest point since mid-August as Evercore upgrades the stock to Buy, from Hold.
- The firm made the move after meeting with Scripps management. It's reduced its price target, though, on a "sum-of-the-parts" analysis.
- The new target is $24, down from $25. Scripps closed today at $19.42, implying 23.6% more upside even after today's move up. Evercore praised its "strong and flexible" balance sheet.
- Updated 8 p.m.: Scripps says it expects its spinoff of newspaper ops into Journal Media Group to remain tax-free even with Gannett's planned acquisition of JMG. It's received a tax counsel opinion to that effect.
- Shares are down 13.1% YTD, but up 17.7% over the past month.
Oct. 7, 2015, 5:35 PM
- Journal Media Group (JMG +5.5%) is up 8.4% after hours on a Wall Street Journal report that Gannett (NYSE:GCI) is close to a deal to buy it out.
- A deal that could reach $300M (at a premium of 50% or more) could be announced as soon as tomorrow.
- Journal Media Group was established just this spring in a merger/spinoff between E.W. Scripps (NYSE:SSP) and Journal Communications; JMG took on the newspaper operations of both companies while handing off broadcast and digital media to Scripps.
- With Gannett (which recently underwent its own broadcast/print spinoff with Tegna) ready to buy into the pure-play print company, the move could kick off a long-awaited round of newspaper industry consolidation.
- Gannett is flat in after-hours trading.
- Previously: Scripps, Journal wrap broadcast/print merger, spinoff (Apr. 01 2015)
Sep. 10, 2015, 10:57 AM
- Cater Lee, formerly a key executive in TV program development at E.W. Scripps (NYSE:SSP), is returning to the company to lead programming as a vice president.
- The move is effective Monday. Lee helped launch multiple programs for Scripps stations in her stint from 2011 to 2014, including syndicated success The List.
- After its merger/spinoff with Journal Communications, Scripps re-focused as primarily a broadcaster and one of the country's largest independent station owners, with 33 stations in 24 markets (and 34 radio stations in eight markets).
Aug. 24, 2015, 2:24 PM
- E.W. Scripps (SSP -1.8%) will take a charge of up to $60M in Q4 as it offers about 4,300 former employees with vested deferred pension benefits an option of getting those benefits as a lump sum or an immediate annuity.
- Employees were notified over the weekend, and have until Oct. 13 to choose. Lump sums will be paid out in November.
- The precise noncash settlement charge will depend on the rate of acceptance. Scripps expects the plan's funded status (80% ratio at 2014's end) to be materially unchanged.
Aug. 10, 2015, 12:59 PM
- E.W. Scripps (NYSE:SSP) is off 4.1% after dueling price target actions today in the wake of posting a Q2 loss Friday.
- Jefferies Group has lowered its target on the shares to $23, from $25. It maintains a Hold rating on the stock.
- Scripps closed Friday at $20.25 and is now trading at $19.42.
- Meanwhile, Benchmark has raised its target on Scripps to $29, from $28, implying a 49% upside from today's price.
- The stock picked up 3% on Friday after it posted a loss due to restructuring costs. It was the first quarter reporting under reorganized categories following a merger/spinoff with Journal Media Group.
- Previously: Scripps up 3.7% as TV results boosted by retransmission revenues (Aug. 07 2015)
Aug. 7, 2015, 11:31 AM
- E.W. Scripps (NYSE:SSP) is up 3.7% after posting a wider Q2 loss (driven by restructuring costs) in its first quarter reporting under new categories, following the April 1 merger/spinoff with Journal Media Group that placed broadcast properties with Scripps.
- Pre-spinoff newspaper results are now reported as discontinued operations.
- Revenues by segment: Television, $167.4M (up 50.3%); Radio, $19.4M (new); Digital, $8.6M (up 58%); Syndication and Other, $2.7M (down 6.1%). In P&L, the company lost $4.9M in Digital and $1M in Syndication and Other, but drew a $4.9M profit from Radio and a $44.6M profit in TV.
- Results in TV were boosted by retransmission revenues that rose $13.5M to $36M, offsetting a decline in political advertising (down $4.7M to $2.2M).
- For Q3, management says it expects TV revenue down mid single digits (prior year had $21M political revenue) and expenses up high single digits; radio revenue flat to down low single digits, and expenses to rise low single digits; and digital revenue (boosted by its Midroll acquisition) to be up more than 40% and expenses up mid-20s.
Aug. 7, 2015, 7:34 AM
- E.W. Scripps (NYSE:SSP): Q2 EPS of -$0.15
- Revenue of $198.1M (+65.5% Y/Y)
Aug. 6, 2015, 5:30 PM
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. 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.
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, 8:09 AM
- E.W. Scripps (NYSE:SSP): Q1 EPS of -$0.09
- Revenue of $214.5M (+5.3% Y/Y) in-line.
May 7, 2015, 5:30 PM
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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