CINCINNATI - The E.W. Scripps Company (NASDAQ: SSP), currently trading at levels considered undervalued by analysts, has finalized a multi-year affiliation agreement with NBC, effective since January 1, 2025, encompassing all 11 of Scripps’ NBC television stations. This renewal continues a long-standing relationship between the two entities and underscores the network-affiliate model’s resilience. The company’s stock has shown strong momentum with a 24% gain in the past week, according to InvestingPro data.
The agreement includes NBC affiliations with Scripps’ stations across various markets, including WGBA in Green Bay, WTMJ in Milwaukee, KRIS in Corpus Christi, KTGF in Great Falls, KTVH in Helena, WLEX in Lexington, KOAA in Colorado Springs, KJRH in Tulsa, KSBY in San Luis Obispo, WPTV in West Palm Beach, and KSHB (OTC:KSHB) in Kansas City.
Dean Littleton, executive vice president of Scripps’ media broadcast operations, emphasized the partnership’s historical significance and the local stations’ role in delivering reliable news, emergency weather alerts, and community coverage. Phil Martzolf, president of affiliate relations at NBCUniversal, expressed enthusiasm for the continued collaboration, highlighting the network’s commitment to innovation and its offerings of entertainment, news, and sports content, including the NBA.
The announcement follows the successful renewal of Scripps’ affiliation with CBS last fall, which included stations such as WTVF in Nashville and other CBS-affiliated markets in Montana.
The E.W. Scripps Company is a diversified media company known for its commitment to quality journalism and operates an extensive network of local TV broadcasters, generating annual revenues of $2.4 billion. The company’s holdings include national news outlets Scripps News and Court TV, entertainment brands like ION and Bounce, and it stands as the nation’s largest holder of broadcast spectrum. Scripps is also recognized for its stewardship of the Scripps National Spelling Bee. While currently operating at a healthy current ratio of 1.34, InvestingPro analysis reveals additional insights about the company’s financial health and growth prospects, with multiple ProTips available for subscribers.
This affiliation renewal is based on a press release statement from The E.W. Scripps Company.
In other recent news, E.W. Scripps has reported record-breaking political advertising revenue, exceeding $340 million, a near 30% surge from the previous presidential cycle. This increase in revenue has enabled significant debt repayments, reducing the company’s leverage ratio from 6x to 5.1x. Despite a decline in core ad revenue and retransmission revenue, Scripps expects a rebound in local advertising and is considering refinancing opportunities to manage upcoming debt maturities.
The company has also announced the appointment of Adam Harman as Senior Vice President of Programming. Harman, a veteran media executive, will oversee programming and content acquisition for Scripps’ news and entertainment networks.
E.W. Scripps recently completed the sale of its San Diego tower sites for $20 million to K2 Towers, while maintaining a lease agreement for the tower space. This strategic move aligns with E.W. Scripps’s broader business objectives, indicating a continued operational need for the sites.
These recent developments highlight Scripps’ strategic approach to navigating its financial landscape and its commitment to operational improvements and cost management.
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