E.W. SCRIPPS Business Summary

The E.W. Scripps Company (SSP) is a diversified media entity that generates revenue through a mix of local and national advertising, retransmission consent fees from multichannel video programming distributors (MVPDs), and carriage fees. Its business is structured into two primary segments: Local Media, comprising 61 television stations in 41 markets, and Scripps Networks, which features a national reach through brands like ION, Bounce, and Grit. Additionally, the company has aggressively expanded into the live sports rights market via its Scripps Sports division, securing multi-year deals with leagues such as the WNBA and NHL to capitalize on the shift toward free-to-air sports broadcasting. Scripps competes directly with Nexstar Media Group, Gray Television, and Sinclair Inc. Within this peer group, Scripps occupies a unique niche as the largest holder of broadcast spectrum dedicated to national over-the-air networks, providing a hedge against traditional cable cord-cutting. Founded in 1878 by Edward Wyllis Scripps, the company remains under the significant influence of the Scripps family via a dual-class share structure. The current leadership is headed by President and CEO Adam Symson, a veteran who previously transformed the company’s digital and broadcast divisions. The executive team includes CFO Jason Combs, who manages the firm's complex capital structure, COO Lisa Knutson, known for her operational leadership during the ION acquisition, and Chief Technology Officer Ray Thurber, who directs the company’s transition to ATSC 3.0 standards. The board of directors includes notable figures like Kim Williams and family representative Charles L. Barmonde. Major institutional investors include BlackRock and Vanguard, reflecting the company's established position in the American media landscape.