The E.W. Scripps CompanyNYSE
Wed, Nov. 9, 10:59 AM
- E.W. Scripps (SSP +0.4%) has set up succession, as CEO Rick Boehne is retiring as CEO in the second half of next year with Chief Digital Officer Adam Symson set to eventually rise to the helm.
- Symson is being named to the new role of chief operating officer currently, and will take over as CEO for Boehne on his retirement.
- Boehne has been president and CEO since 2008, and chairman of the board since 2013; Symson joined Scripps' TV division in 2002 and took over digital operations in 2011.
Tue, Nov. 8, 6:53 PM
- E.W. Scripps (SSP +3.7%) has authorized a new repurchase program for up to $100M of its class A common shares.
- The company's last authorized buyback program expires Dec. 31. The new authorization runs from Jan. 1, 2017, to Dec. 31, 2018.
- The company can buy back shares from time to time in the open market or through trading plans or private block transactions.
Fri, Nov. 4, 5:05 PM
- E.W. Scripps (NYSE:SSP) joined a market slide and closed down 3.2% after it missed expectations with Q3 earnings despite swinging to a gain from continuing operations.
- Revenues grew 23%, mainly due to gains in retransmission revenue, political advertising and growth in its digital businesses.
- Revenue by segment: Television, $197M (up 25%); Radio, $19.3M (down 5.4%); Digital, $15.8M (up 45%).
- In TV, retrans revenue was up $16.8M. Advertising revenues: Local, $77.9M (flat on same-station basis); National, $35.5M (up 2.2% on same-station basis); Political, $26.9M vs. year-ago $4.3M.
- In Q4 expectations: TV revenue is seen up in the mid-30% range; radio revenue down in low single digits; and digital revenue up in the low-40% range.
- Press Release
Fri, Nov. 4, 7:31 AM
Thu, Nov. 3, 5:30 PM
Fri, Oct. 14, 4:24 PM
- Newsy, the over-the-top news network bought by E.W. Scripps (SSP -3.5%), has launched on Hulu.
- The service had previously launched through Web video clips. It's now going to provide 30 news stories a day to Hulu viewers, along with longer-form content including original series. And it recently launched its first cable channel through a carriage deal with Cincinnati Bell.
- Newsy content is available to all Hulu plans (ad-free or ad-supported).
- Aside from Hulu, Newsy content can be streamed on Sling TV, Roku, Watchable (Comcast) and Apple TV.
Fri, Sep. 30, 7:04 PM
- E.W. Scripps (SSP +2.2%) defended its station WCPO today amid an FCC complaint regarding political advertising.
- The company says the complaint, filed with the agency by nonprofits represented by the Georgetown Law Institute for Public Representation, mischaracterizes the station's handling of its political ad file.
- The complaint alleges that Cincinnati-based WCPO violated regulations regarding how stations disclose information about the purchase of political ads.
- It's a case of misreading the information, the company says: Ad scheduling and other required information is "listed in the file and associated with the correct advertisements."
- Scripps did say the complaint identified some areas where the filings could be more descriptive, and it's amended the file accordingly.
Thu, Sep. 29, 6:33 PM
- Cracked, the humor brand/channel bought by E.W. Scripps (SSP -1%) from Demand Media for $39M, has gone over-the-top by setting up its own channel on Roku.
- The channel will feature daily videos as well as longer-running series, and will even feature content launching exclusively in a Roku time window, Cracked says, starting with a Halloween-focused video series.
- The brand has 1.2M subscribers to its YouTube channel, and had previously ventured into smaller platforms Pluto TV and Xumo.
Mon, Sep. 19, 5:23 PM
- Newsy, the bite-size streaming news network acquired by E.W. Scripps (SSP +0.8%), is making its first move to TV, thanks to Cincinnati Bell (CBB -0.5%).
- Newsy is headed to channel 508 on Cincinnati Bell's Fioptics TV service, sitting among local broadcast affiliates on the Fioptics "dial."
- "Cable is still the most powerful television viewing platform in the world," says Newsy GM Blake Sabatinelli.
- Newsy Live, a regularly updated feed of news headlines, will populate the new channel.
Fri, Sep. 9, 2:54 PM
- The List, an original TV show from E.W. Scripps (SSP -2.8%) that has become a syndication success, has gotten an expansion to reach viewers in more than 25% of the country.
- The half-hour newsmagazine is in its fifth season and is available in 44 markets (eight top-20 markets). It's showing in a variety of dayparts across affiliates from all four major broadcast networks.
- It's gotten a new look, website and mobile app as well, the company says. The show ranked No. 11 among syndicated programs in May.
- Producer Cater Lee, who had launched The List during a previous stint with the company, rejoined Scripps last fall as head of programming with a mandate to pursue more original successes.
Fri, Aug. 5, 1:47 PM
- E.W. Scripps (NYSE:SSP) is trading 4.1% lower after Q2 revenues missed expectations despite 15% growth paced by solid TV growth.
- The company swung to a gain on net income. Retransmission revenues rose 46% to $53.4M.
- Political TV advertising was $8.4M in Q2 and the company notes spending is focused on key states for Scripps (Ohio, Florida, Colorado, Nevada, Wisconsin).
- Revenues by segment: Television, $191.7M (up 14.5%); Radio, $18.2M (down 6.3%); Digital, $15.2M (up 76.8%); Syndication and other, $2.7M (down 1.6%).
- Earnings by segment: Television, $53.3M (up 19.5%); Radio, $3.9M (down 20.5%); Digital, -$4.7M (improved from loss of $4.92M); Syndication and other, -$1.05M (improved from loss of $1.06M).
- For Q3, Scripps sees TV revenues up between 35% and 45%, with expenses up in the mid-teens; radio revenue down in mid-single digits, with expenses up mid-single digits; and digital revenue up about 50% (with expenses rising by the same ratio).
- Press Release
Fri, Aug. 5, 7:33 AM
Thu, Aug. 4, 5:30 PM
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
Fri, May 6, 7:32 AM
- E.W. Scripps (NYSE:SSP): Q1 EPS of $0.06 beats by $0.06.
- Revenue of $209.5M (+70.3% Y/Y) beats by $2.51M.
Thu, May 5, 5:30 PM