Wednesday, October 21, 2020
E.W. Scripps Company (SSP)
A Legacy Of Creating Value
The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation’s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
C-Suite Interview. This reports highlights a recent C-Suite interview with Adam Symson, President and Chief Executive Officer, and Lisa Knutson, Executive Vice President and Chief Financial Officer, of E.W. Scripps. Among the topics that were discussed included debt levels, Retransmission revenue, the new broadcast TV standard, and regulations in the industry, among others. We believe that the informative interview provides insights on its operating strategy and enforces our constructive view of the company.
Historic high debt levels. Management provided thoughts on the company’s historic high debt levels following recent and planned acquisitions, its path to bring debt levels down, and its comfort level with leverage. Based on our estimates, the company’s debt will be …
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.