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The E. W. Scripps Company
Type
Public
Traded as NYSE: SSP
S&P 600 Component
Industry Broadcast television, broadcast radio
Successor Scripps Networks (Cable television)
Founded November 2, 1878
(as the Penny Press)
Founder Edward W. Scripps
Headquarters Cincinnati, Ohio, United States
Key people
Roy W. Howard (1883–1964)
Adam Symson (President & CEO)
Revenue US$943 million (2016)
Operating income
US$127 Million (2016)
Website www.scripps.com

The E. W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis "E. W." Scripps. It was also formerly a media conglomerate. The company is headquartered inside the Scripps Center in Cincinnati, Ohio. Its corporate motto is "Give light and the people will find their own way."

The E. W. Scripps Company was incorporated on December 1, 1987, but it traces its history to November 2, 1878, when Edward Willis Scripps published the first issue of the Cleveland Penny Press.

In 1894, E. W. Scripps and his half-brother, George H. Scripps, organized their various papers into the first modern newspaper chain. In July 1895, it was named the Scripps-McRae League with the addition of Cincinnati Post general manager Milton A. McRae as a partner. On November 3, 1922, it was renamed Scripps-Howard Newspapers, to recognize Roy W. Howard.

On November 23, 1922, the company was placed in trust for E. W. Scripps' children and grandchildren. The company's shares were divided into two types: Class A Common Shares, which were traded on the New York Stock Exchange, and common voting shares, which were not publicly traded and elected a majority of the company's directors. A number of media companies, including the New York Times Company and the Washington Post Company, are governed by this system so that the descendants of the company's founders can keep control of the company.

In 1990, the company completed a new downtown Cincinnati headquarters, the Scripps Center.

On October 16, 2007, the company announced that it would separate into two publicly traded companies: The E. W. Scripps Company (newspapers, TV stations, licensing/syndication) and Scripps Networks Interactive (NYSE: SNI), (HGTV, Food Network, DIY Network, Cooking Channel (formerly known as Fine Living), Travel Channel and Great American Country). The transaction was completed on July 1, 2008.

On October 3, 2011, The E. W. Scripps Company announced it was purchasing the television arm of McGraw-Hill for $212 million. This purchase nearly doubled the number of Scripps stations to 19 with a combined reach of 13% of U.S. households. Upon the 2012 death of E. W. Scripps' grandson, Robert Scripps, the Edward W. Scripps Trust was dissolved and its stock divided among the surviving trustees.

The E. W. Scripps Company and Journal Communications announced on July 30, 2014, that the two companies would merge and spin-off their newspaper assets. The deal created a broadcast group under the E.W. Scripps Company name and retaining the Cincinnati headquarters, and a newspaper company based in Milwaukee, Wisconsin, under the Journal Media Group name. The FCC approved the deal on December 12, 2014, and it was approved by shareholders on March 11, 2015. The merger and spinoff were completed on April 1, 2015. Journal Media Group merged with the all-newspaper Gannett Company on April 8, 2016. Gannett had also shed their television and broadcast operations into a spin-off, Tegna, months after the Scripps-Journal merger.

In April 2016, Demand Media announced the sale of the humor/listicle website Cracked.com to E.W. Scripps.In June, it acquired podcast service Stitcher from Deezer

On August 1, 2017, E.W. Scripps announced the purchase of Katz Broadcasting and its three networks plus Bounce which Katz operates, for $292 million, acquiring the other 95% of the company. The purchase was completed on October 2, 2017.

In 1997, Scripps bought daily Texas newspapers in Corpus Christi, Abilene, Wichita Falls, San Angelo and Plano, plus the paper in Anderson, S.C. from Harte-Hanks Communications, along with 25 non-daily newspapers and San Antonio-based KENS-TV and KENS-AM. The purchase price was to be between $605 and $775 million, depending on a federal ruling.

The company, before the merger with Journal and subsequent spinoff, owned and operated newspapers in 13 American markets:

Scripps operated United Media (composed of the United Feature Syndicate and the Newspaper Enterprise Association). United Feature Syndicate syndicated many notable comic strips including Peanuts, Garfield, Li'l Abner, Dilbert, Nancy and Marmaduke. NEA, originally established as a secondary news service to the Scripps Howard News Service, later evolved into a general syndicate, and were best known for syndicating Alley Oop, Freckles and His Friends, The Born Loser and Frank and Ernest, in addition to an annual Christmas comic strip. The distribution rights to properties syndicated by United Media was outsourced to Universal Uclick in February 2011. While United Media effectively ceased to exist, Scripps still maintains copyrights and intellectual property rights.

Scripps also operated United Press International (United Press from its 1907 inception until a 1958 merger with Hearst's International News Service) until selling it off in 1982. It also previously owned the Scripps Howard News Service, which shut down in 2013.

E. W. Scripps' television division currently owns thirty-three television stations in twenty-four markets; fifteen ABC affiliates, five NBC affiliates, five Azteca América affiliates, two MyNetworkTV affiliates, two CBS affiliates, two Fox affiliates, one CW affiliate, and one station independent of any network affiliation. As a result of its merger with Journal, the company has retained Journal's radio station group, along with maintaining the sports play-by-play radio networks for Journal's major broadcasting rights in Wisconsin; the Green Bay Packers Radio Network, and the Milwaukee Brewers Radio Network, in addition to operational control of the Packers Television Network.

Scripps also previously owned the Shop at Home Network from 2000 until 2006. Shop at Home in turn owned five television stations, all as a division of its cable network division.

In October 1995, Comcast announced the purchase of E. W. Scripps' cable provider operation.

From 1990 to 1995, Scripps was a partner in the regional sports network SportSouth, along with Turner Broadcasting and Tele-Communications, Inc.; in 1996 the network was sold to News Corporation and became Fox Sports South.

Attempts to use Shop at Home as a complementary service to Food Network and HGTV by selling products connected to personalities of those networks were middling compared to competitors QVC and HSN. On May 22, 2006, Scripps announced that it was to cease operations of the network and intended to sell each of Shop at Home's five owned and operated television stations. Jewelry Television eventually acquired Shop at Home, but Scripps still intended to sell its affiliated stations (Jewelry Television discontinued most Shop at Home operations in March 2008). On September 26, 2006, Scripps announced that it was selling its Shop at Home TV stations to New York City-based Multicultural Television for $170 million.

On October 3, 2011, Scripps announced it was purchasing all seven television stations owned by The McGraw-Hill Companies for $212 million; the sale is a result of McGraw-Hill's decision to exit the broadcasting industry to focus on its other core properties, including its publishing unit. This deal was approved by the FTC on October 31 and the FCC on November 29. The deal was completed on December 30, 2011.

On February 10, 2014, Scripps announced it has reached a deal to acquire Buffalo ABC affiliate WKBW-TV and Detroit MyNetworkTV affiliate WMYD for $110 million. The sale was approved by the FCC on May 2, 2014 and was completed on June 16, 2014. This deal has created a duopoly between WMYD and ABC affiliate WXYZ-TV.

Notes:

Other Notes:

Notes:
** indicates a station that was built and signed-on by E.W. Scripps
++ indicates a station that was owned by Scripps but operated by Belo Corporation (via a time brokerage agreement) during Scripps' ownership

Scripps also operates the national (US) spelling bee. The final competition is in Washington, DC, and it is broadcast on ESPN and ABC. Lower levels are organized by the school, then county and eventually to the final competition. E.W. Scripps will retain ownership of the property in the split of its newspaper and broadcasting businesses.

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Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-03 Future report Set alerts
Q2 2022 2022-08-05 0.45 0.45
Q1 2022 2022-05-06 0.00 0.00
Q4 2021 2022-02-25 0.00 0.00
Q3 2021 2021-11-05 0.00 0.00
Q2 2021 2021-08-06 0.42 0.42
Q1 2021 2021-05-07 0.03 0.03
Q4 2020 2021-02-26 1.35 1.35
Q3 2020 2020-11-06 0.76 0.76
Q2 2020 2020-08-07 -0.22 -0.22

Ratings

2016-06-08 Reiterated Rating Noble Financial Buy $25.00
2016-05-11 Reiterated Rating Jefferies Group Hold $18.00
2016-04-13 Reiterated Rating Noble Financial Positive $25.00
2016-02-29 Lower Price Target Benchmark Co. Buy $29.00 to $25.00
2016-02-29 Lower Price Target Noble Financial Buy $29.00 to $25.00
2016-02-29 Downgrade Wells Fargo Outperform to Market Perform
2016-02-29 Downgrade Wells Fargo & Co. Outperform to Market Perform
2015-11-18 Initiated Coverage Stephens Equal Weight $22.00
2015-10-06 Upgrade Evercore ISI Hold to Buy $25.00 to $24.00
2015-08-10 Lower Price Target Jefferies Group Hold $25.00 to $23.00
2015-08-10 Boost Price Target Benchmark Co. Buy $28.00 to $29.00
2015-06-29 Initiated Coverage Jefferies Group Hold $25.00
2015-06-22 Initiated Coverage Evercore ISI Hold $25.00
2015-06-15 Boost Price Target Benchmark Co. Buy $25.00 to $28.00
2015-06-11 Initiated Coverage Wells Fargo & Co. Outperform
2015-06-11 Initiated Coverage Wells Fargo Outperform
2015-05-28 Initiated Coverage Sidoti Buy
2014-05-12 Reiterated Rating JPMorgan Chase & Co. Neutral $18.00 to $19.00
2013-11-15 Boost Price Target Benchmark Co. Buy $18.00 to $22.00
2013-09-04 Reiterated The Benchmark Company Buy $13 to $18
2012-11-13 Reiterated The Benchmark Company Buy $11 to $13
2011-10-05 Reiterated The Benchmark Company Hold $9 to $8
2010-04-28 Upgrade JP Morgan Neutral to Overweight $13
2008-07-16 Downgrade Lehman Brothers Overweight to Underweight
2007-12-07 Initiated Jefferies & Co Hold
2007-06-28 Upgrade JP Morgan Neutral to Overweight
2016-06-08 Reiterated Rating Noble Financial Buy $25.00
2016-05-11 Reiterated Rating Jefferies Group Hold $18.00
2016-04-13 Reiterated Rating Noble Financial Positive $25.00
2016-02-29 Lower Price Target Benchmark Co. Buy $29.00 to $25.00
2016-02-29 Lower Price Target Noble Financial Buy $29.00 to $25.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
SCRIPPS CHARLES E 1.73%  (766954) SNI / SSP /
Scripps Kathy 1.21%  (534666) SSP /
Scripps Jimmy R. 1.21%  (534664) SNI / SSP /
Scripps William H. 1.11%  (489904) SNI / SSP /
Peirce Mary 0.80%  (353728) SNI / SSP /
Scripps Eaton M 0.76%  (334624) SNI / SSP /
Estate of Robert P. Scripps, Jr. 0.75%  (330104) SNI / SSP /
Scripps Cynthia J 0.74%  (326735) SNI / SSP /
Wade Marilyn 0.70%  (311510) SNI / SSP /
Scripps J. Sebastian 0.65%  (289819) SNI / SSP /
Attal Eva Scripps 0.62%  (273826) SNI / SSP /
Logan Elizabeth A 0.60%  (267331) SNI / SSP /
Heidt Julia Scripps 0.60%  (267330) SNI / SSP /
Sanchez Mary Ann S. 0.60%  (267133) SNI / SSP /
Granado Corina S. 0.60%  (266833) SNI / SSP /
STAUTBERG TIMOTHY E Senior VP/Newspapers 0.50%  (223065) SSP /
BOEHNE RICHARD A President & CEO 0.48%  (214639) SSP /
Williams Kim 0.32%  (142803) SSP / WY / XEL /
Appleton William SVP and General Counsel 0.25%  (110909) SSP /
Lawlor Brian G. Sr. VP/Television 0.25%  (109565) SSP /
OGDEN ROGER 0.24%  (105223) CHYR / SSP /
Scripps Gerald J. 0.21%  (91985) SNI / SSP /
Wesolowski Timothy M SVP, CFO and Treasurer 0.17%  (75107) SSP /
HAYDEN JOHN W 0.15%  (65042) SSP /
QUIN J MARVIN 0.13%  (58783) SSP /
Sripps John P 0.13%  (57931) SNI / SSP /
Carson Robert A VP & Chief Information Officer 0.11%  (50224) SSP /
Holcomb Monica 0.09%  (41128) SNI / SSP /
Koors Mark L VP/Audit and Compliance 0.09%  (39689) SSP /
Kaheny Ellen M. Scripps 0.08%  (35412) SNI / SSP /
SCRIPPS EDWARD W 0.07%  (31177) SNI / SSP /
Knutson Lisa A Senior VP/Chief Admin. Officer 0.07%  (30820) SSP / WSBC /
Lyons Douglas F Vice President and Controller 0.05%  (23600) SSP /
La Dow Anne 0.05%  (21119) SSP /
Symson Adam SVP/Digital 0.04%  (18014) SSP /
CONLIN KELLY P 0.04%  (17935) SSP /
Barmonde Charles L. 0.03%  (15194) SNI / SSP /
Evans Douglas A. 0.03%  (11546) SNI / SSP /
Scripps William A. 0.02%  (9546) SNI / SSP /
Dubuc Cody 0.02%  (7000) SNI / SSP /
SCRIPPS PAUL K 0.02%  (6934) SNI / SSP /
SCAGLIOTTI NACKEY E 0.01%  (5463) SNI / SSP /
Tomlin Laura SVP, National Media 0.01%  (4979) SSP /
Scripps (Klenzing) Margaret E. 0.01%  (4855) SNI / SSP /
Vasquez Virginia S. 0.01%  (4842) SNI / SSP /
Brickner Rebecca Scripps 0.01%  (4825) SNI / SSP /
Scagliotti R. Michael 0.01%  (3298) SNI / SSP /
Thompson Pete 0.01%  (3298) SIGM / SSP /
Cardin Careen 0.01%  (3000) SNI / SSP /