Key Developments: EW Scripps Co (SSP.N)
16.68USD
1 Aug 2013
$0.07 (+0.42%)
$16.61
$16.68
$16.86
$16.65
106,608
149,950
$18.18
$9.07
Latest Key Developments (Source: Significant Developments)
EW Scripps Co Elects Boehne As Chairman
EW Scripps Co announced that Board Of Directors elected Rich Boehne as its new chairman. He succeeds Nackey E. Scagliotti, a great-granddaughter of founder Edward W. Scripps. She notified the board in February of her plans to retire as of the 2013 annual meeting following 14 years as a director and the final five years as the board's chair. Full Article
The E.W. Scripps Company Completes Acquisition Of Nine Television Stations From McGraw-Hill
The E.W. Scripps Company announced that it has completed its acquisition of nine television stations from McGraw-Hill Broadcasting. The Company announced its intention to acquire the stations on October 3, 2011. The purchased assets include ABC-affiliated stations in Denver, Indianapolis, San Diego and Bakersfield, Calif., and five stations affiliated with the Spanish-language Azteca America network in Colorado and southern California. Scripps paid $212 million in cash for the stations in an acquisition that was approved by the Federal Communications Commission earlier this month. Financing for the transaction was provided by a bank group led by SunTrust Bank. Full Article
The E.W. Scripps Company To Buy Nine Television Stations From McGraw-Hill
The E.W. Scripps Company announced that it has expanded its television footprint by agreeing to acquire the station group now owned by McGraw-Hill Broadcasting. Included in the transaction are four stations affiliated with the ABC television network; KMGH in Denver, market #27 KGTV in San Diego, market #28 KERO in Bakersfield, Calif., market #125. The five other stations involved in the transaction – KZSD in San Diego, KZKC in Bakersfield, KZCO in Denver, KZFC in Ft. Collins, Colo., and KZCS in Colorado Springs, Colo. – are low-power stations affiliated with the Spanish-language network, Azteca America. Scripps agreed to pay $212 million in cash for the nine stations. The deal is structured as a purchase of stock but will be treated as a purchase of assets for tax purposes, resulting in tax deductions created through the transaction that will be used by Scripps to reduce the net cash cost of the acquisition. Full Article
The E.W. Scripps Company Announces Appointment Of Chief Financial Officer
The E.W. Scripps Company announced that Timothy M. Wesolowski, a financial executive with more than two decades of experience managing accounting, treasury, tax and risk management functions, has been named Senior Vice President, Chief Financial Officer and treasurer of the Company. Wesolowski, 53, succeeds Tim Stautberg, who was named in June to be the Company's senior vice president of newspapers. Full Article

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