Wednesday, July 8, 2020
E.W. Scripps Company (SSP)
Looks Like A Stitch In Time Will Pay Off Big
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.
Reported sale of Stitcher higher than expected. Reports that Scripps is close to selling Stitcher for roughly $300 million is well above our original expectations of $200 million and a significant return from a combined purchase price of roughly $59.5 million in 2016. A prospective sale to XM Sirius would likely be on a fast track for regulatory approval and the deal would be viewed favorably.
Another example of creating value. We believe that the potential sale and significant return on its investment will be another feather in the company’s cap for identifying and building value for …
Click to get the full report.
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.
