“I think we were all nervous about the General Motors strike and that had no impact on us,” Local Media President Brian Lawlor told analysts. In fact, he added, the ad categories of furniture, bedding, travel and leisure, cruises, jewelry, shoes and appliances, all were “up significantly. It really gives us a lot of hope that our local economy and our local markets are very healthy.”
The increase to $252 million was aided by a 21% rise in retrans revenue and higher core advertising.
It moves Laura Tomlin to executive vice president, national media, while Carolyn Pione Micheli becomes senior vice president, corporate communications and investor relations.
The board of directors of the E.W. Scripps Co. today declared a cash dividend for the fourth quarter of 2019. Scripps shareholders of record as of Dec. 13, 2019, will receive 5 cents per share, payable on Dec. 24. The dividend will be paid out of the company’s surplus.
Adam Symson, president and CEO of The E.W. Scripps Co., says leading the company isn’t a quarter-to-quarter proposition, but rather about taking a decades-long view. From that vantage, he sees a growing marketplace for podcasts and multicasting, along with a deepening the OTT sales business and ATSC 3.0’s longer-term potential as crucial fronts to buttress the company’s core broadcast business.
The 30-minute weekly show, hosted by Chris Stewart, anchor for Scripps’ national newscast The Now, will travel coast to coast and border to border each week to report from Main Street USA and talk to people about the issues affecting their lives.
With no common measurement data, OTT services are playing by multiple rule books, broadcast executives say at TVNewsCheck’s OTT News Summit.
Executives from leading local and national news players in the OTT space discuss their various options for packaging and presenting content on the platform. Also crucial is figuring out how best to differentiate one’s OTT service from the many competing options, overcoming a lack of viewing metrics and personalizing content for viewers.
They form a partnership to advance enterprise journalism, open records.
Larissa England has joined The E.W. Scripps Co. in the newly created role of equity, diversity and inclusion business partner. England joins Scripps’ corporate equity, diversity and inclusion (EDI) team that was created in April 2018 and led by Danyelle S.T. Wright as chief diversity officer. “Scripps was built on the idea of giving all people […]
While conversations between broadcasters and car makers are just starting, ATSC 3.0 proponents say that given the three-to-five-year build cycle of a typical new model it’s crucial to get 3.0 receiver chips into car makers’ design plans by next spring so they’re ready to roll in 2024, by which time next-gen stations will be broadcasting across the U.S.
Tegna, Tribune, Scripps, Fox and Graham are among a growing number of TV broadcasters who are exploring adding audio content and advertising platforms. A study from the Interactive Advertising Bureau and PricewaterhouseCoopers puts podcast ad revenues at $313.9 million in 2017, and projects that it will more than double, to $659 million, by next year.
For right now, the company says it’s focused on integrating all its recently-acquired stations. But, said CEO Adam Symson, “it won’t be long before we’re positioned again to pursue accretive M&A.”
Much of that increase was fueled by a 21% rise in retransmission consent revenue to $85.4 million.
The board of directors of the E.W. Scripps Co. today declared a cash dividend for the second quarter of 2019. Scripps shareholders of record as of June 14 will receive 5 cents per share, payable on June 25. The dividend will be paid out of the company’s surplus.
The $521 million deal adds 15 stations in 10 markets to Scripps’ portfolio and bumps up its reach to nearly 21% of U.S. TV households.
Scripps-owned Newsy has added five more bureaus and expanded beyond a collection of online and mobile news packages to an OTT channel and to 38 million cable homes. And while Newsy bills itself as a “next-generation news network” aimed at millennials, its distinctive approach has valuable lessons for local broadcasters striving to adapt to a changing competitive landscape.
Scripps chooses the local TV sales and management veteran to lead its California ABC affiliate.
The Justice Department is OK with Nexstar’s spin-offs of eight TV stations to Scripps, part of its deal to acquire Tribune. Scripps is buying eight stations in seven markets for $580 million. The sale keeps Nexstar on the right side of FCC ownership limits.
The FCC has approved the sale of Cordillera Communications TV stations to Scripps plus the sale of one Cordillera station to Quincy. In fact, the sale of the Cordillera stations is contingent on that spin-off of KVOA Tucson. Scripps has also been given permission to continue operating Cordillera’s KBZK Bozeman, Mont., as a satellite of Cordellera’s KXLF Butte.
Developers of the software or platforms that make automated spot sales possible will be demanding a small percentage of the business they handle, possibly up to 1.5%. With broadcasters’ ringing up several billion in national spot sales each year, the automation fees could quickly run into tens of millions of dollars.
Nexstar CEO Perry Sook sacrificed 19 stations to bring his proposed $4.1 billion merger in line with FCC and DOJ ownership limits. There is now no reason why regulators should stand in the way of the deal, including the transfer of Tribune’s top four duopoly in Indianapolis. Also, here’s a quick review of the winners and losers in Nexstar’s spinoff auction.
The spinoffs reflect Nexstar’s regulatory compliance plan to secure approvals for its Tribune Media deal. Tegna is buying 11 stations in eight markets and Scripps gets eight stations in seven markets.
The boost to $281 million was attributed to political advertising revenue of $82 million plus $77.9 million in retrans money. Local Media profit was $98.7 million, compared to $45.4 million in the year-ago quarter.
The Justice Department has signed off on the sale of 15 TV stations from Evening Post Industries’ (EPI) Cordillera Communications to Scripps for $521 million. That came in an early termination notice Tuesday released by the Federal Trade Commission, which divvies up merger reviews. The notice means that the antitrust review has been ended early with no issues that would cause the deal to be blocked or conditioned.
Tegna, Hearst and EW Scripps are all planning on submitting final offers for Cox Media Group’s 14 TV stations at the end of January, according to people familiar with the matter. Final bids are due by Jan. 30, said the people, who asked not to be named because the process is private. A deal could fetch more than $2 billion, and possibly close to $3 billion, the people said.
The group reups WGBA Green Bay, Wis.; WTMJ Milwaukee; KJRH Tulsa, Okla.; WPTV West Palm Beach, Fla.; and KSHB Kansas City, Mo.
The spinoffs from the Gray-Raycom merger brings Scripps’ holdings to 36 TV stations in 26 markets and gives Scripps its first stations in Texas and expands its Florida presence.
All of E.W. Scripps stations will use Comscore’s television currency and will also use Comscore’s advanced automotive and political demographic currencies to sell the value and relevance, rather than just the size, of its audiences.
With the closing of the $8 million sale of eight stations to Lotus Communications, Scripps has gotten out of the radio station business. Selling all its stations brought in $83.5 million.
The new multiplatform network, to debut in May 2019, has secured over-the-air distribution agreements with major local TV station group owners including Tribune, Scripps and Univision, giving Court TV coverage of more than 50% of U.S. television households at launch. Vinnie Politan will be the network’s lead anchor.
E.W. Scripps has closed its $150 million acquisition of Triton, a global provider of digital audio technology and measurement services. “The Triton acquisition aligns with the Scripps strategy of fueling company growth by being opportunistic in the marketplace and responsive to the changing needs of media consumers,” said Adam Symson, Scripps president and CEO. Triton […]
Five years ago, said Scripps Local Media President Brian Lawlor, Scripps owned only 13 television stations. “When we close on our recent acquisitions, we’ll have 51 stations in 36 markets stretching across the country.” The plan, he said, is to build “a stronger and more durable station portfolio.”
The boost to $231 million was attributed to political advertising revenue of $40 million plus $78.8 million in retrans money. Local Media profit was $67.4 million, compared to $30.4 million in the year-ago quarter.
The deal will bring the Scripps station portfolio to 51 stations in 36 markets with a reach of nearly 21% of U.S. TV households and includes three duopolies — in Helena and Great Falls, Montana, and Corpus Christi, Texas. Cordillera is selling its remaining station, NBC affiliate KVOA Tucson, Ariz., to Quincy Media.
The station group says it expects 2018 political advertising revenue to beat its $75 million from 2014 and $101 million from 2016.
Each of its stations will 100 minutes coverage each week prior to the midterm elections. In addition, Scripps has renewed its Sunday political news show The Race, which debuted during the 2016 election season.
The plan is to buy $25 million of its Class A common shares, which it expects to be completed by the first quarter of 2019.
The gain to $213 million was driven by retrans plus political advertising revenue of $14.9 million, more than double the $7 million of pro forma political revenue in 2Q 2014, the last midterm election year.
The complications of dynamic ad insertion is one factor keeping local broadcasters from making a bigger run at OTT. But with the promise of higher CPMs from ad targeting as motivation, broadcasters and vendors say solutions are on the horizon.