Latest news with #E.W.ScrippsCompany
Yahoo
29-07-2025
- Business
- Yahoo
Scripps announces upsize and prices senior notes offering
CINCINNATI, July 29, 2025 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has priced an offering of $750 million aggregate principal amount of new 9.875% senior secured second-lien notes, which represents a $100 million increase from the previously announced size of the offering. The notes will mature in 2030. The offering is expected to close on Aug. 6, 2025, subject to customary closing conditions. The private offering is exempt from the registration requirements of the Securities Act of 1933, as amended. The notes will be guaranteed by certain of the company's existing and future subsidiaries and will be secured on a second-lien basis by substantially all of the existing and future assets of the company and the guarantors, subject to customary exceptions, and guaranteed by each of the subsidiaries that also provide guarantees of the company's credit facilities. Scripps intends to use the net proceeds of this offering to (i) redeem all of the company's outstanding 5.875% senior notes due 2027, (ii) pre-pay a portion of the outstanding borrowings under the company's term loan B-2 facility due in 2028, (iii) repay a portion of the outstanding borrowings under the company's revolving credit facilities and (iv) pay the fees and expenses relating to this transaction. The notes and related guarantees have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption. The notes are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A of the Securities Act or, outside the United States, to persons other than "U.S. persons" in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. Forward-looking statementsThis press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "believe," "anticipate," "intend," "expect," "estimate," "could," "should," "outlook," "guidance," and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company's plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company's control. The company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company's ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company's ability to manage its outstanding debt obligations. A detailed discussion of such risks and uncertainties is included in the company's Form 10-K, on file with the SEC, in the section titled "Risk Factors." Any forward-looking statement made in this press release is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. About ScrippsThe E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. Scripps is the nation's largest holder of broadcast spectrum. Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: "Give light and the people will find their own way." Contact: Media contact: Becca McCarter, (513) 410-2425, contact: Carolyn Micheli, (513) 977-3732, View original content to download multimedia: SOURCE The E.W. Scripps Company
Yahoo
09-06-2025
- Business
- Yahoo
New Strong Buy Stocks for June 9th
Here are five stocks added to the Zacks Rank #1 (Strong Buy) List today: The E.W. Scripps Company SSP: This media enterprise company has seen the Zacks Consensus Estimate for its current year earnings increasing 14.3% over the last 60 days. E.W. Scripps Company (The) price-consensus-chart | E.W. Scripps Company (The) Quote MYR Group Inc. MYRG: This electrical construction services company has seen the Zacks Consensus Estimate for its next year earnings increasing nearly 6% over the last 60 days. MYR Group, Inc. price-consensus-chart | MYR Group, Inc. Quote Swedbank AB (publ) SWDBY: This banking products and services has seen the Zacks Consensus Estimate for its current year earnings increasing 9.5% over the last 60 days. Swedbank AB price-consensus-chart | Swedbank AB Quote Postal Realty Trust, Inc. PSTL: This real estate investment trust has seen the Zacks Consensus Estimate for its current year earnings increasing 5.2% over the last 60 days. Postal Realty Trust, Inc. price-consensus-chart | Postal Realty Trust, Inc. Quote Peakstone Realty Trust PKST: This real estate investment trust has seen the Zacks Consensus Estimate for its current year earnings increasing 14.7% over the last 60 days. Peakstone Realty Trust price-consensus-chart | Peakstone Realty Trust Quote You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MYR Group, Inc. (MYRG) : Free Stock Analysis Report E.W. Scripps Company (The) (SSP) : Free Stock Analysis Report Swedbank AB (SWDBY) : Free Stock Analysis Report Postal Realty Trust, Inc. (PSTL) : Free Stock Analysis Report Peakstone Realty Trust (PKST) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Kuwait Times
02-06-2025
- Entertainment
- Kuwait Times
Faizan Zaki, 13, crowned US National Spelling Bee champion
Faizan Zaki, a 13-year-old boy from the Dallas area, won the 97th Scripps National Spelling Bee on Thursday, swiftly nailing the French-derived word 'eclaircissement,' synonymous with enlightenment, in the 21st round of the contest finals. He edged out 14-year-old Sarvadnya Kadam, from Visalia, California, who finished in second place after misspelling 'Uaupes,' a tributary of the Rio Negro in South America, in the 20th round. Zaki, who was last year's runner-up, had correctly spelled 'Chaldee,' a dialect of the Biblical Aramaic language, in the 20th round. But under spelling bee rules, Zaki needed to land one more word in a solo round to claim the trophy. He did so in round 21 by instantly and precisely spelling 'eclaircissement' - defined as a clearing up of something obscure. He surprised the audience by giving his answer without taking the customary pause afforded contestants to ask the judges for more information about the word's origins, meaning and pronunciation. He was crowned champion in a hail of confetti before being joined on stage by his parents and other relatives, and will receive $50,000 in prize money. Cyleane Equra Ama Quansah, 11, of Accra, Ghana spells her word. Kaden Haddox (left), 12, of Steubenville, Ohio reacts after successfully spelling his word in the preliminaries. The spelling finalists are seen before the finals of the 2025 Scripps National Spelling Bee. Faizan Zaki , 13, of Dallas, Texas holds up the Scripps Cup after winning in the 21st round of the 2025 Scripps National Spelling Bee. Faizan Zaki, (second right) 13, of Dallas, Texas holds the Scripps Cup alongside family and friends after winning. E. W. Scripps Company CEO Adam Symson (left) hands Faizan Zaki (right), 13, of Dallas, Texas the Scripps Cup after winning in the 21st round of the 2025 Scripps National Spelling Bee. Zaki, a resident of Allen, Texas, had nearly been eliminated in round 18 when he rushed, and stumbled over, the spelling of 'commelina,' a genus for some 200 species of dayflowers. But his two fellow finalists at that point, including Kadam, likewise fumbled their words, leading to a 19th round in which all three boys returned, but only two - Zaki and Kadam - survived to face off in the decisive 20th round. Sarv Dharavane, an 11-year-old boy from Tucker, Georgia, finished in third place after misspelling 'eserine,' the antidote of choice for many poisons, with one 's' too many. Thursday's total roster of nine finalists emerged from three days of competition at a convention center outside Washington, DC, among 243 contestants aged eight to 14 who advanced from regional competitions across the country. Challenged with some of the most difficult and least-used words that English has to offer, many young competitors amazed spectators with their ability to produce the correct spellings with poise and precision. The Scripps media group has sponsored the event since 1925, with three years off during World War Two and one more for the COVID pandemic in 2020. Most competitors were from the United States, coming from all 50 states. Other spellers came from Canada, the Bahamas, Germany, Ghana, Kuwait, Nigeria, Puerto Rico and the US Virgin Islands. - Reuters
Business Insider
12-05-2025
- Business
- Business Insider
Wells Fargo Keeps Their Hold Rating on E. W. Scripps Company Class A (SSP)
Wells Fargo analyst Steven Cahall maintained a Hold rating on E. W. Scripps Company Class A (SSP – Research Report) on May 9 and set a price target of $2.80. The company's shares closed last Friday at $2.32. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Cahall covers the Communication Services sector, focusing on stocks such as Paramount Global Class B, Roku, and E. W. Scripps Company Class A. According to TipRanks, Cahall has an average return of 6.1% and a 52.35% success rate on recommended stocks. E. W. Scripps Company Class A has an analyst consensus of Moderate Buy, with a price target consensus of $6.93. Based on E. W. Scripps Company Class A's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $728.38 million and a net profit of $95.39 million. In comparison, last year the company earned a revenue of $615.77 million and had a GAAP net loss of $255.76 million
Yahoo
10-04-2025
- Business
- Yahoo
Scripps completes transactions to refinance revolver and 2026, 2028 term loans
CINCINNATI, April 10, 2025 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has successfully completed a series of previously announced refinancing transactions, which include: Refinance of approximately $110.8 million aggregate principal amount of existing tranche B-2 term loans with new tranche B-2 term loans due 2028, with remaining existing tranche B-2 term loans repaid in cash, including with proceeds from a new accounts receivable securitization facility, approximately $223.5 million of proceeds from new tranche B-2 term loans funded by certain participating lenders and cash on hand (including from drawings under our revolving credit facilities); Refinance of approximately $540.2 million (99.8%) aggregate principal amount of existing tranche B-3 term loans with $200 million new tranche B-2 term loans due 2028 and $340.2 million new tranche B-3 term loans due 2029, with remaining existing tranche B-3 term loans repaid in cash with cash on hand (including from drawings under our revolving credit facilities); Replacement of the existing revolving credit facility with a new revolving credit facility with aggregate commitments of up to $208 million due July 2027 and another new non-extended revolving credit facility with aggregate commitments of up to $70 million due January 2026; and Entrance into a new accounts receivable securitization facility with aggregate commitments of up to $450 million. As a result of the transactions: No existing B-2 term loans, existing B-3 term loans or existing revolving commitments remain outstanding; Scripps has $545.2 million aggregate principal amount of new tranche B-2 term loans outstanding and $340.2 million aggregate principal amount of new tranche B-3 term loans outstanding; and Scripps will have total aggregate revolving commitments of up to $278 million, inclusive of the new non-extended revolving credit facility set forth above. The completion of the transactions strengthens the balance sheet by extending maturities and providing the company flexibility to continue execution of key strategic initiatives. The company will file a Form 8-K with the Securities and Exchange Commission that will contain further details regarding the completion of the transactions. The foregoing descriptions of the transactions do not purport to be complete and are qualified in their entirety by reference to the Form 8-K and exhibits thereto. Simpson Thacher & Bartlett LLP served as counsel and Perella Weinberg Partners served as financial advisor to the company. Davis Polk & Wardwell LLP served as counsel and Moelis & Company LLC served as exclusive financial advisor and investment banker to an ad hoc group of certain of existing B-2 and B-3 lenders. Cahill Gordon & Reindel LLP acted as counsel to JPMorgan Chase Bank, N.A., as administrative agent for the new credit facilities and left lead arranger with respect to the new revolving credit facility. Mayer Brown LLP served as counsel to PNC Bank, National Association, as administrative agent and a lender with respect to the new accounts receivable securitization facility. Orrick Herrington & Sutcliffe LLP served as counsel to KKR Credit Advisors (US) LLC, on behalf of itself, certain of its affiliates and its or their managed funds and accounts, as a lender with respect to the new accounts receivable securitization facility. This press release is not intended to be, and does not constitute, an offer to sell, buy or subscribe for any securities or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States or any other jurisdiction. No offer of securities shall be made absent registration under the Securities Act of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements. Forward-looking statementsThis document contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "believe," "anticipate," "intend," "expect," "estimate," "could," "should," "outlook," "guidance," and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management's current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company's plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company's control. The company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company's ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company's ability to manage its outstanding debt obligations. These statements include, but are not limited to, the company's ability to realize the intended benefits of the refinancing transactions described above. A detailed discussion of such risks and uncertainties is included in the company's Form 10-K, on file with the SEC, in the section titled "Risk Factors." Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise. Media contact: Becca McCarter, The E.W. Scripps Company, (513) 410-2425, contact: Carolyn Micheli, The E.W. Scripps Company, (513) 313-5910, About ScrippsThe E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation's largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation's largest holder of broadcast spectrum. Its Scripps Sports division serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: "Give light and the people will find their own way." View original content to download multimedia: SOURCE The E.W. Scripps Company Sign in to access your portfolio
