China and US agree to extend trade tariff truce, says Li
CINCINNATI - E.W. Scripps Company (NASDAQ:SSP) announced Monday it has launched an offering of $650 million in new senior secured second-lien notes expected to mature in 2030. The media company, currently valued at $292 million in market capitalization, maintains a healthy current ratio of 1.36, with liquid assets exceeding short-term obligations according to InvestingPro data.
The media company plans to use the proceeds to redeem all of its outstanding 5.875% senior notes due 2027, pre-pay a portion of its existing term loan B-2 facility due in 2028, and cover fees and expenses related to the transaction.
The private offering is subject to market conditions and other factors, and is exempt from Securities Act registration requirements. The notes will be guaranteed by certain Scripps subsidiaries and secured on a second-lien basis by substantially all of the company’s existing and future assets, with customary exceptions.
The notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act or to non-U.S. persons outside the United States in compliance with Regulation S.
Scripps operates a portfolio of more than 60 local TV stations across 40+ markets and national outlets including Scripps News and Court TV. The company also runs entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff.
According to the press release statement, Scripps is the nation’s largest holder of broadcast spectrum and serves professional and college sports leagues through Scripps Sports, which offers local market depth and national broadcast reach.
In other recent news, E.W. Scripps Company reported its Q1 2025 earnings, revealing an EPS loss of $0.22, which was better than the anticipated loss of $0.37. The company also reported revenue of $524.39 million, slightly surpassing expectations. Additionally, E.W. Scripps has extended its partnership with the Women’s National Basketball Association to continue broadcasting Friday night games on its ION network. This multi-year agreement ensures that ION, which reaches over 128 million homes, will remain the national broadcast partner for the WNBA Friday Night Spotlight series. The network currently airs 50 regular season games as part of this series. These developments highlight E.W. Scripps’ efforts to maintain and grow its media presence amidst a challenging landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.