The E W Scripps Co Class A SSP
Summary (from latest annual report – 2015 and quarterly report 2016)
- Total equity : 918 million USD
- Market Cap is 1.4 billion USD ( last price of the stock is 16.96 USD)
- The E W Scripps Co is a media enterprise with interests in television stations, newspapers, and local and national digital media sites. It operates in three segments namely television, newspaper and syndication
- Equity of total company increased from 518 million USD in 2014 to 918 million in 2016
- Company has 96 million USD in cash on account (from quarterly report 2016 year)
- Total equity – cash on account = 918 million USD – 96 million USD = 822 million USD
- In 2016 company has 392 million USD long-term debt, short – term debt was 7 million USD (In 2014 company had 2 million USD short-term debt , long-term debt was 196 million USD)
- In 2016 quarterly report - total equity increased to 918 million USD from 518 million USD in 2014, total debt is 399 million USD in 2016)
- Company's revenue decreased in 2015 to 716 million USD from 869 million in 2014
- Net loss in 2015 was 82 million USD, Net income in 2014 was 11 million USD
The E W Scripps Co Class A Subsidiaries SSP
The E. W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis Scripps. It was also formerly a media conglomerate. The company is headquartered inside the Scripps Center in Cincinnati, Ohio. The E W Scripps Co is a media enterprise with interests in television stations, newspapers, and local and national digital media sites. It operates in three segments namely television, newspaper and syndication. Its corporate motto is "Give light and the people will find their own way."
On October 16, 2007, the company announced that it would separate into two publicly traded companies: The E. W. Scripps Company (newspapers, TV stations, licensing/syndication) and Scripps Networks Interactive (NYSE: SNI), (HGTV, Food Network, DIY Network, Cooking Channel [formerly known as Fine Living], Travel Channel and Great American Country). The transaction was completed on July 1, 2008. The E. W. Scripps Company and Journal Communications announced on July 30, 2014, that the two companies would merge and spin-off their newspaper assets.
SSP standalone subsidiaries and acquisitions :
- On December 30, 2011, SSP acquired the television station group owned by McGraw-Hill Broadcasting Company, Inc. for 212 million USD in cash. The acquisition included four ABC-affiliated television stations, as well as five Azteca America Spanish-language affiliates.This purchase nearly doubles the number of Scripps stations to 19 with a combined reach of 13% of U.S. households
- On January 1, 2014, company acquired Media Convergence Group, which operates as Newsy, a video news provider, for 35 million USD in cash. Newsy adds a new dimension to our video news strategy with a storytelling approach, specifically geared toward OTT audiences
- On June 16, 2014, company acquired two television stations owned by Granite Broadcasting Corporation for 110 million USD in cash. The acquisition included an ABC-affiliated station in Buffalo and a MyNetworkTV affiliate in Detroit that is now operated as a duopoly with our ABC affiliate
- 2015 acquisition of Midroll Media, a Los Angeles-based company that creates original podcasts and operates a network that sells advertising for more than 200 shows, including “WTF with Marc Maron" and "Comedy Bang! Bang!” The purchase price was 50 million USD in cash, plus a 10 million USD earnout provision
- In April 2016, Demand Media announced the sale of the humor/listicle website Cracked.com to E.W. Scripps for 39 million USD. In June, it acquired podcast service Stitcher from Deezer for 4.5 million USD
Total = 460.5 million usd
On April 1, 2015, Scripps and Journal Communications, Inc. ("Journal") closed the merger of their broadcast operations and spin-off of their newspaper businesses into a separate publicly traded company. Upon completion of the transactions, Scripps shareholders received 0.25 shares of common stock of Journal Media Group for each share of Scripps stock. A $60 million special cash dividend, which was approximately $1.00 per share, was also paid to the Scripps shareholders. Journal shareholders received 0.195 shares of common stock of Journal Media Group and 0.5176 class A common shares of Scripps for each share of Journal stock.
The merged broadcast operations, which retained The E. W. Scripps Company name, is one of the nation’s largest independent TV station ownership groups, reaching nearly one in five U.S. television households and serving 24 markets. They also own 34 radio stations in eight markets. The company has approximately 3,800 employees across its television, radio and digital media operations. The merger enhances their national broadcast footprint, and company now have affiliations with all of the "Big 4" television networks. The merger with the Journal broadcast business further leverages Scripps' digital investments, adding large and attractive markets to the portfolio, including Nashville, Las Vegas and Milwaukee. The company is expecting to build and launch market-leading digital brands that serve growing digital media audiences, in addition to supporting the on-air local news brands.
Opinion about the company
Fundamentally it is a not bad company and in the future we can expect its growth (Total debt is 399 million USD, company has 96 million USD in cash on account, ROE is negative: around -10 %).