Fri, Aug. 7, 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.
- Press Release
Fri, Aug. 7, 7:34 AM
Thu, Aug. 6, 5:30 PM
Fri, May 8, 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.
- Press Release
Fri, May 8, 8:09 AM
Thu, May 7, 5:30 PM
Wed, Mar. 4, 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.
- Press release
Wed, Mar. 4, 7:32 AM
Tue, Mar. 3, 5:30 PM
Tue, Feb. 3, 10:17 AM
- The New York Times Co. (NYSE:NYT) is up 5.9% on news of its Q4 earnings beat.
- Digital ad growth of 19% is seen as encouraging as the company wrestles with slipping print advertising revenue.
- News peers are also trading higher today: (GCI +2.8%), (SSP +2.9%), (LEE +3.4%), (AHC +2.5%).
- The NYT conference call comes up at 11 a.m.
Nov. 7, 2014, 7:39 AM
Nov. 6, 2014, 5:30 PM
Aug. 8, 2014, 7:51 AM
Aug. 8, 2014, 7:38 AM
May 9, 2014, 7:36 AM
Mar. 4, 2014, 7:33 AM
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The E W Scripps Cois 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.
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