Today, 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.
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.
Aug. 11, 2014, 1:45 PM
- There's some asset re-allocation going on in the media sector with a group of newspapers stocks piling on some gains - while select TV broadcaster and digital media stocks head in the other direction.
- The flurry of merger and spinoff news within the sector has created more pure-play bets and consolidated some firms into larger players.
- Analysts have noted the extra volatility in the sector has created more buy/sell opportunities than normal on mismatched valuation.
- Gainers: McClatchy (NYSE:MNI) +3.0%, Lee Enterprises (NYSE:LEE) +3.3%, New Media Investment (NYSE:NEWM) +4.4%.
- Decliners: E.W. Scripps (NYSE:SSP) -3.6%, Media General (NYSE:MEG) -2.1%, Journal Communication (NYSE:JRN) -3.4%.
- Related ETF: PBS
Jul. 31, 2014, 12:45 PM
Jul. 31, 2014, 9:11 AM| 4 Comments
Jun. 25, 2014, 12:11 PM
- Sinclair Broadcast (SBGI +14.1%), Media General (MEG +10.4%), E.W. Scripps (SSP +7.9%), Gray Television (GTN +7.5%), Meredith (MDP +4.3%), Gannett (GCI +3.8%), and Nextar (NXST +15.6%) are taking off after the Supreme Court ruled (by a 6-3 vote) Aereo's TV streaming service is illegal.
- National broadcast network owners are generally showing more moderate gains.
May. 12, 2014, 1:20 PM
- TV broadcast stocks are outperforming for the day after the sector was tapped by M.D. Sass to soar.
- The investment firm notes there is a disconnect between the 10% of carriage fee revenue broadcasters haul in compared to the 35% of total viewing they account for across the industry. A normalization of the revenue mix is in the "early inning," according to Sass.
- A timely initiation by Wells Fargo of Media General at Outperform is also giving a boost.
- Gainers: E.W. Scripps (SSP) +7.6%, Nexstar Broadcasting (NXST) +5.7%, Media General (MEG) +4.8%, Liberty Interactive (LVNTA) +1.9%, Sinclair Broadcast Group (SBGI) +1.9%, Gray Television (GTN) +1.7%.
Mar. 21, 2014, 8:13 AM
- Broadcast media names get jiggy after Media General agrees to buy Lin Media for nearly double last night's close.
- Gray Television (GTN) +9.2% premarket, Nexstar Broadcasting (NXST) +3.2%, E.W. Scripps (SSP) +1.1%. Keep an eye on Entravision Communication (EVC) as well, along with the PowerShares Dynamic Media Portfolio (PBS).
Mar. 17, 2014, 2:22 PM
- A dour warning from Wells Fargo on broadcaster stocks is wreaking havoc in the sector.
- The group is giving up much of the M&A premiums it had built up over the last few months.
- Decliners: Gray Television (GTN) -12.5%, Nexstar Broadcasting (NXST) -9.1%, inclair Broadcast Group (SBGI) -7.4%, E.W. Scripps (SSP) -5.4%, Entravision Communication (EVC) -2.7%, Media General (MEG) -5.0%.
- The PowerShares Dynamic Media ETF (PBS) is under-performing a bit today due to its exposure to the group.
Mar. 4, 2014, 1:08 PM| Comment!
Sep. 17, 2013, 5:36 PM
Aug. 5, 2013, 12:45 PM
Feb. 26, 2013, 12:45 PM
Dec. 5, 2011, 1:47 PMGannett (GCI +11.6%) soars after Lazard upgrades shares to Buy from Neutral, and Citigroup calls attention to an improving outlook from the National Association of Newspapers on the sector that includes a forecast of a 4.8% drop in advertising revenue for Q4 - compared to a 9% decline in Q3. Other newspapers stocks are rallying as well: NYT +3.6%, MNI +4.8%, SSP +2.8%. | Comment!
SSP vs. ETF Alternatives
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.
Other News & PR