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Scripps announces a series of transactions to refinance its revolver and 2026, 2028 term loans
Prnewswire· 2025-03-11 20:15
Core Viewpoint - The E.W. Scripps Company has entered into a transaction support agreement with lenders to restructure its debt, providing liquidity and support for its strategic initiatives [1][4]. Group 1: Transaction Details - The transactions involve the repayment or extension of up to $1.3 billion of existing term loans [2]. - Initial consenting lenders will exchange existing B-2 term loans for new B-2 term loans due June 2028 and existing B-3 term loans for a combination of new B-2 and B-3 term loans due November 2029 [2]. - A new $450 million accounts receivable securitization facility will be established, with proceeds used to partially repay existing B-2 term loans [2]. - A new $208 million revolving credit facility due July 2027 will be created to support ongoing liquidity [2]. Group 2: Impact on Debt Structure - Following the transactions, no existing B-2 term loans will remain outstanding, and remaining B-3 term loans will be subordinated to the new loans and credit facilities [3]. - The company expects to complete these transactions by April [3]. Group 3: Management Commentary - The CFO emphasized that the agreement aims to transform Scripps' balance sheet and enhance its ability to implement strategic initiatives [4]. - The company expresses gratitude for the support from existing and new investors, which contributed to the refinancing [4].
Scripps Sports builds upon successful first year of NWSL on ION, announces game plans, new studio team for 2025 season
Prnewswire· 2025-03-04 16:18
Core Insights - Scripps Sports announced its production plans and new studio team for the 2025 season of the National Women's Soccer League (NWSL) on ION, starting March 15, 2025, following a successful inaugural season that reached over 20 million unique viewers [1][13]. Company Overview - Scripps Sports is part of The E.W. Scripps Company, which operates a diverse portfolio of media brands and is a significant player in local TV broadcasting [10][11]. - The NWSL is recognized as the premier women's professional soccer league globally, featuring clubs with national team players from various countries [12]. Broadcast Details - The NWSL on ION will feature 50 matches over 25 weeks, with Saturday night doubleheaders beginning March 15, 2025 [7]. - The network is available in 123 million homes and is one of the most-watched networks on television, providing coverage through pay TV, connected TV, and free ad-supported streaming platforms [2][10]. Studio Team - Seb Salazar and Kylen Mills will co-host the NWSL on ION studio shows, which are the first weekly studio shows dedicated to the NWSL by any broadcast network [3][4]. - Salazar has a strong background with ESPN, while Mills is an Emmy-nominated sportscaster with experience across major sports networks [4][5]. Audience Engagement - In its first season, ION attracted a significant female audience, with 57% of the P25-54 demographic and 55% of the P2+ audience being female [13]. - The NWSL on ION achieved an average audience of 145,000 P2+ per game, with a peak of 234,000 viewers for a specific match [13].
Scripps to report fourth-quarter 2024 operating results on March 11, new earnings call date and time March 12
Prnewswire· 2025-02-27 14:16
Core Viewpoint - The E.W. Scripps Company is delaying the release of its fourth-quarter 2024 operating results due to ongoing negotiations for refinancing its term loan and revolving credit facility, with a new release date set for March 11, 2025 [2]. Group 1: Company Operations - The company will report its fourth-quarter 2024 operating results after market close on March 11, 2025, with a conference call scheduled for March 12, 2025, at 9 a.m. Eastern time [1]. - The delay in the earnings release is attributed to active negotiations for refinancing transactions with existing lenders and potential new debt capital providers [2]. - The company plans to provide updates on the refinancing transaction and the results of negotiations during the rescheduled conference call [2]. Group 2: Earnings Call Protocol - A new protocol for joining earnings calls has been established, with a replay of the conference call available online approximately four hours after the call [3]. - Participants can access the live webcast by registering on the company's investor relations website [5]. - Analysts wishing to ask questions must use a specific registration link to receive a unique dial-in and PIN for identification during the call [5]. Group 3: Company Background - The E.W. Scripps Company is a diversified media company and one of the largest local TV broadcasters in the U.S., operating over 60 stations in more than 40 markets [4]. - The company is committed to quality local journalism and operates national news outlets such as Scripps News and Court TV, along with entertainment brands like ION and Bounce [4].
Scripps Howard Fund and Scripps Howard Foundation gave $9.8 million in charitable gifts in 2024
Prnewswire· 2025-02-17 18:51
Core Insights - The Scripps Howard Fund and Scripps Howard Foundation awarded $9.8 million to community and journalism programs in 2024, marking a nearly 10% increase from 2023 [1] Group 1: Funding Overview - The Fund's 2024 contributions included $2.5 million for community support, $1.6 million for journalism education, and $1.5 million for childhood literacy [4][5][6] - The Foundation's 2024 giving included $4.2 million for journalism education, with a significant initiative being the establishment of the Roy Howard Community Journalism Center at the University of Southern Mississippi, receiving $1 million annually for three years [7] Group 2: Community Engagement and Impact - Scripps-owned local television stations and Scripps Networks conducted 77 fundraising campaigns in 2024, garnering nearly 6,500 donations, and supported over 110 charities [8] - The Fund raised $289,000 for 29 local nonprofits in response to hurricanes Helene and Milton [8] - The Fund awarded $170,000 during the 71st Scripps Howard Journalism Awards to recognize outstanding journalism [8] Group 3: Educational Initiatives - The Fund partnered with the University of Southern California to teach open-source investigative journalism and provided a grant to the University of Memphis for a similar program [8] - The "If You Give a Child a Book …" campaign invested a record-breaking $1.5 million in childhood literacy, distributing 255,000 new books to 34,000 children in low-income schools [8] - Clay County, Kentucky, became the first school district to have all elementary schools supported by the literacy campaign, providing nearly 14,850 books to students [8]
Court TV's new original series 'Trial & Error: Why Did O.J. Win?' premieres Sunday Feb. 16 at 8pm ET/PT
Prnewswire· 2025-02-13 17:01
Core Viewpoint - Court TV is launching a new seven-part limited series titled "Trial & Error: Why Did O.J. Win?" which will explore the O.J. Simpson double murder trial and its implications on the legal system and public perception of justice [1][2]. Group 1: Series Overview - The series will utilize Court TV's extensive library to analyze the defense and prosecution strategies that contributed to the controversial verdict [2]. - It will feature interviews with key participants, including attorneys, legal experts, and family members of the victims, providing multiple perspectives on the trial [2]. Group 2: Programming Schedule - The series will premiere on February 16, 2025, with episodes airing weekly, each focusing on different aspects of the trial [4]. - Key episodes include: - "Murders in Brentwood" discussing the initial charges against O.J. Simpson [4]. - "The 'Racist' Cop" featuring LAPD detective Mark Fuhrman's account of the trial [5]. - "Domestic Violence" highlighting O.J. Simpson's history of abuse [6]. - "Racial Tension" examining how racial dynamics influenced the trial [7]. - "Attack the Timeline" analyzing the timeline of events surrounding the murders [8]. - "The Bloody Gloves" focusing on the pivotal courtroom moment involving the bloody glove [9]. - "Inside the Jury Room" revealing juror insights and reactions to the verdict [10]. Group 3: Production Team - The series is hosted by Michael Ayala, an attorney and Emmy-award winning journalist, with Ted Rowlands serving as the executive producer [3].
Scripps promotes sports sales executive to lead local media sales
Prnewswire· 2025-02-11 19:30
Core Insights - The E.W. Scripps Company has appointed Tony Lamerato as vice president of local media sales to lead revenue strategy and business development across its more than 60 local television stations, effective February 17, 2025 [1][2] Company Overview - The E.W. Scripps Company is a diversified media company and one of the largest local TV broadcasters in the U.S., operating over 60 stations in more than 40 markets [6] - Scripps focuses on quality local journalism and operates national news outlets such as Scripps News and Court TV, along with entertainment brands like ION, Bounce, and Grit [6] Leadership Background - Tony Lamerato has been with Scripps since 2016, previously serving as vice president of sports revenue and sponsorships, where he developed revenue strategies for local sports partnerships [3][4] - Lamerato has also held roles such as senior director of revenue strategy for Scripps' Local Media division and director of sales for Scripps' ABC and independent stations in Detroit [4] Strategic Focus - Lamerato's responsibilities will include driving revenue-generating initiatives in local advertising markets, focusing on monetizing sports inventory and supporting local sales teams [2][5] - The company aims to create meaningful connections with consumers and advertisers across various platforms [5]
Scripps to report fourth-quarter 2024 operating results on Feb. 27
Prnewswire· 2025-02-05 14:30
Group 1 - The E.W. Scripps Company will report its fourth-quarter 2024 operating results on February 27, 2025, after market close [1] - A conference call with the senior management team is scheduled for February 28, 2025, at 9:30 a.m. Eastern time [1] - The company has implemented a new protocol for joining its earnings calls due to a change in the conference call provider [1] Group 2 - The E.W. Scripps Company is a diversified media company and one of the largest local TV broadcasters in the U.S., operating over 60 stations in more than 40 markets [2] - Scripps reaches households nationwide through its national news outlets and popular entertainment brands [2] - The company is the largest holder of broadcast spectrum in the nation and has been a steward of the Scripps National Spelling Bee since its founding in 1878 [2]
Court TV unveils original limited series, 'Trial & Error: Why Did O.J. Win?'
Prnewswire· 2025-01-24 16:00
Core Viewpoint - Court TV is launching a seven-part limited series titled "Trial & Error: Why Did O.J. Win?" on February 16, 2025, to mark the 30th anniversary of the O.J. Simpson murder trial, exploring the trial's complexities and its lasting cultural impact [1][6]. Group 1: Series Overview - The series will delve into the defense and prosecution strategies that contributed to the controversial verdict of the O.J. Simpson trial, featuring interviews with key participants including attorneys, detectives, and family members [4][6]. - Hosted by attorney and Emmy-award winning journalist Michael Ayala, the series aims to provide a provocative look at the trial's dynamics and its implications on American society [5][6]. Group 2: Episode Breakdown - The first episode, airing on February 16, focuses on the murders in Brentwood, detailing the case's background and the perspectives of those involved [6]. - Subsequent episodes will cover various aspects of the trial, including the role of LAPD detective Mark Fuhrman, domestic violence issues, racial tensions, the timeline of events, the infamous bloody glove moment, and insights from jurors [8][9][10][11][12][13]. - The series aims to highlight the trial's significance as a cultural touchstone and its influence on discussions surrounding domestic violence and racial issues in the judicial system [13]. Group 3: Context and Relevance - The O.J. Simpson trial, which captivated the nation for nearly 10 months in 1995, is noted for its dramatic courtroom moments and strong racial overtones, making it a pivotal event in American legal history [13]. - Court TV continues to cover significant legal cases in real-time, indicating its commitment to in-depth legal reporting and analysis [14].
National News Literacy Week encourages teens to develop healthy online habits
Prnewswire· 2025-01-23 13:00
Group 1: National News Literacy Week - The sixth annual National News Literacy Week will take place from February 3-7, 2025, focusing on the need to teach students how to find credible information and recognize standards-based journalism [1] - A study by the News Literacy Project revealed that 81% of teens who encounter conspiracy theories online are inclined to believe them, highlighting the urgency of media literacy education [1][2] - The week aims to encourage educators to teach critical thinking skills, which are associated with healthy online habits such as fact-checking [1] Group 2: Organizations Involved - The event is co-presented by the News Literacy Project, The E.W. Scripps Company, and USA TODAY, emphasizing the collaboration of major media organizations in promoting news literacy [2][3] - The News Literacy Project, founded in 2008, is a nonpartisan education nonprofit that works with educators to ensure students receive news literacy instruction before graduating high school [5] - The E.W. Scripps Company operates over 60 stations in more than 40 markets, focusing on quality local journalism and reaching households across the U.S. with national news outlets [6] Group 3: Importance of News Literacy - Scripps President and CEO Adam Symson stated that the current information landscape requires careful navigation for Americans to be thoughtful news consumers [4] - Karey Van Hall, deputy editor in chief of USA TODAY, emphasized the paramount importance of education around news and trusted information sources [4]
Scripps News, WTVF in Nashville receive 2025 duPont-Columbia Awards
Prnewswire· 2025-01-23 03:20
CINCINNATI, Jan. 22, 2025 /PRNewswire/ -- For their series of investigative reports, news teams at The E.W. Scripps Company (NASDAQ: SSP) have won two 2025 Alfred I. duPont-Columbia Awards. The prestigious journalism awards recognize America's best video and audio journalism. The duPont Silver Batons were presented during a ceremony Wednesday night at Columbia University in New York City. Scripps News, the national news network owned by Scripps, won for its reporting on the limits of Maine gun laws. WTVF, S ...