CINCINNATI, Sept. 5, 2024 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has promoted Sean Franklin to vice president and general manager for WLEX, the Scripps-owned NBC affiliate in Lexington, Kentucky, effective Sept. 16. Franklin has served as the station's director of engineering since 2019, overseeing the engineering and production departments and serving on the station's leadership team. The E.W. Scripps Company has promoted Sean Franklin to vice president and general manager for WLEX, the Scr ...

CINCINNATI, Sept. 4, 2024 /PRNewswire/ -- The Scripps Howard Fund is doubling its impact for one day, in celebration of National Literacy Month. Today, Sept. 4, the Fund will match the first $175,000 donated to the "If You Give a Child a Book ..." childhood literacy campaign. For every $12 donated, the Fund gives two books to a child in need. Donations can be made at ifyougiveabook.com. Donate today: Make a difference and double your impact. The "If You Give a Child a Book …" campaign is supported by The E. ...

Financial Data and Key Metrics Changes - For Q2 2024, the company reported a loss attributable to shareholders of $13 million or $0.15 per share, with preferred stock dividends negatively impacting EPS by $0.17 [11] - Local Media division revenue increased nearly 4% year-over-year, driven by a record $28 million in political advertising revenue, while local core advertising revenue decreased by about 7% [5][6] - Scripps Networks revenue was $209 million, down 9.7% from the previous year, with expenses flat at $171 million [8][9] Business Line Data and Key Metrics Changes - Local Media segment profit rose to $88 million, a 9% increase from Q2 2023, with expectations for Q3 revenue to increase by about 20% [6][7] - Scripps Networks division expects Q3 revenue to decline in the mid-single-digit range, with expenses anticipated to decrease in the low single-digit range [10] - The Other segment reported a loss of $9 million, with shared services and corporate expenses for Q2 at $21.7 million [10] Market Data and Key Metrics Changes - Political advertising revenue guidance for the full year was raised to between $270 million and $290 million, reflecting strong spending in key Senate races [7] - Connected TV revenue was up 11% in Q2, but overall expectations for CTV revenue were lowered from a previous guidance of 30% growth to about 10% [9] Company Strategy and Development Direction - The company is focused on debt reduction and capturing efficiencies to enhance sustainability, with a strong emphasis on political advertising and live sports as growth drivers [13][21] - Scripps aims to leverage its broadcast strength and partnerships in live sports to drive audience engagement and advertising revenue [16][19] - The strategy includes maintaining a balance between sports and general entertainment to attract diverse audiences [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the political advertising landscape, noting unprecedented spending levels and a favorable competitive environment [14][24] - The company is optimistic about the impact of the upcoming Presidential election and ongoing Senate races on advertising revenue [15][24] - Management acknowledged challenges in the CTV space due to increased inventory from competitors but expects rates to rise as the market stabilizes [9][10] Other Important Information - The company is pursuing asset sales, including the Bounce TV network and real estate holdings, as part of its debt reduction strategy [11][12] - Cash and cash equivalents totaled $27 million, with net debt at $2.9 billion [11] Q&A Session Questions and Answers Question: Can you discuss core trends and the impact of political advertising? - Management indicated that core advertising revenue was down about 7%, with displacement due to strong political revenue and tough comparisons from last year [23][25] Question: What is the outlook for the Networks portfolio and potential growth? - Management highlighted that the upfront results validated their sports strategy, with expectations for low single-digit increases in volume driven by sports and CTV [27][29] Question: How is the company managing its debt and asset sales? - Management confirmed that the process for selling Bounce TV is competitive and progressing well, with expectations to generate significant cash proceeds from real estate divestitures [34]

E.W. Scripps (SSP) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of $0.02. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -850%. A quarter ago, it was expected that this television and radio company would post a loss of $0.06 per share when it actually produced a loss of $0.10, delivering a surprise of -66.67%. Over the last four quarters, the company has ...

CINCINNATI, Aug. 8, 2024 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) delivered $574 million in revenue for the second quarter of 2024. Loss attributable to the shareholders of Scripps was $13 million or 15 cents per share. Business notes: Scripps now believes its 2024 Local Media election-year political advertising revenue will reach record levels, with even the low end of the new range, $270-$290 million, above any previous year. Previously, the company had given a range of $240-$270 million. Th ...

ATLANTA, Aug. 1, 2024 /PRNewswire/ -- "Johnson," Bounce TV's popular dramedy focusing on four best friends who share life along with the same last name, returns for an all-new season Saturday nights at 8 p.m. ET/7 p.m. CT starting Aug. 3 with two new back-to-back episodes. Season four preview here. "Johnson" is a journey of love, self-discovery, and brotherhood, touching on hot-button topics including race, mental health, classism and the ever-evolving relationship dynamics between men and women -- themes t ...

All Credit Union Branches Accepting Book Donations for San Diego Elementary School Students SAN DIEGO, Aug. 1, 2024 /PRNewswire/ -- North Island Credit Union has launched a book drive to help ensure children in low-income households have access to books outside the classroom. In the third year of the partnership, the book drive is being conducted with the Scripps Howard Fund and ABC 10News as part of its "If You Give a Child a Book . . ." childhood literacy campaign. Through August 31st, North Island Credit ...

Contact: Carolyn Micheli, The E.W. Scripps Company, 513-977-3732, [email protected] The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a betterinformed world. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment bran ...

CINCINNATI, July 12, 2024 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) will report second-quarter 2024 operating results after the markets close on Thursday, Aug. 8. The call with the company's senior management team will take place at 9:30 a.m. Eastern time on Friday, Aug. 9. To access the conference call by telephone, dial (877) 336-4440 (U.S.) or (409) 207-6984 (international) and give the access code 1958030 approximately five minutes before the start of the call. Investors and analysts will n ...

Chief Investigative Reporter Dave Biscobing and the ABC15 Investigators were recognized in the television investigative reporting (large market) category for "Too Unwell to Testify." The series exposed how a top Phoenix homicide detective, who's married to an assistant chief, repeatedly mishandled evidence and then claimed to be too sick to answer for the mistakes. "After beginning with a basic story exploring DiPonzio's mysterious unavailability in March 2023, our investigation quickly expanded as we unrav ...