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NEW YORK/CINCINNATI - The E.W. Scripps Company (NASDAQ: SSP), a media company currently trading at attractive valuations according to InvestingPro data with a market capitalization of $227 million, has secured a new multi-year agreement with the Women’s National Basketball Association (WNBA) to continue broadcasting Friday night games on its ION network, according to a press release statement issued Friday.
ION, which reaches over 128 million homes through various platforms, will remain the league’s Friday night national broadcast partner, a position it has held since 2023. The network currently broadcasts 50 regular season games as part of its WNBA Friday Night Spotlight series. The company’s strong liquidity position, with a current ratio of 1.36, supports its operational capabilities.
The renewal follows significant viewership growth in 2024, with the State Farm WNBA Friday Night Spotlight seeing a 133% year-over-year increase in average viewership and attracting more than 23 million unique viewers.
WNBA Commissioner Cathy Engelbert said the partnership has delivered "great results in expanding the league’s reach and visibility," while Scripps President and CEO Adam Symson noted the agreement "solidifies ION’s status as the premier Friday night destination for WNBA action."
The deal includes the continuation of the WNBA on ION Studio Show, which the company describes as the first weekly game broadcast studio show dedicated exclusively to WNBA game coverage.
Financial terms and the exact duration of the agreement were not disclosed in the announcement.
ION is available across multiple platforms including pay TV, connected TV, free ad-supported streaming services, and over-the-air broadcast. For investors interested in deeper analysis of E.W. Scripps Company’s performance and potential, InvestingPro offers comprehensive research reports with detailed metrics and expert insights, available as part of its coverage of 1,400+ US stocks.
In other recent news, E.W. Scripps Company reported its Q1 2025 earnings, showcasing a smaller-than-expected loss. The company revealed an EPS loss of $0.22, exceeding analyst expectations which had projected a loss of $0.37. Revenue for the quarter reached $524.39 million, slightly surpassing the forecast of $519.88 million. Despite these positive results, the company’s stock experienced a decline, reflecting investor concerns about high debt levels and declining revenues in key segments. The company’s Connected TV revenue saw a notable increase of 42%, indicating growth in digital segments, although declines were noted in the Local Media division and core advertising revenues. Analysts from firms like The Benchmark Company and JPMorgan engaged with E.W. Scripps’ executives, focusing on regulatory prospects and the company’s sports programming strategy. The company remains optimistic about potential regulatory changes that could favor local broadcasters, as discussed by CEO Adam Simpson. Additionally, the company is concentrating on debt reduction, with cash and cash equivalents at $24 million and total debt at $2.6 billion.
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