E W Scripps : Scripps Investor Deck, November 2020
November 30, 2020 at 02:33 pm EST
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Scripps Investment Highlights Third-Quarter 2020 and Beyond
November-December 2020
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Forward-Looking Statements
This document contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward- looking statements. Such forward-looking statements are made as of the date of this document and should be evaluated with the understanding of their inherent uncertainty. A detailed discussion of principal risks and uncertainties, including those engendered by the COVID-19 pandemic, that may cause actual results and events to differ materially from such forward-looking statements is included in the company's Form 10-K and Form 10-Q, on file with the SEC, in the section titled "Risk Factors." The company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date such statements are made.
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THIRD-QUARTER FINANCIAL RESULTS & DEBT POSITION
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Recent Business Highlights
On Sept. 24, Scripps announced it will buy ION Media for $2.65 billion, combining the network with the Katz networks and Newsy to create a full-scale national television networks business.
ION reaches more than 100 million homes through over-the-air and pay TV platforms and has consistently achieved annual revenue growth and EBITDA margins well above industry averages. This accretive transaction is expected to close in early 2021.
Scripps' 2020 Local Media political advertising revenue totaled about $265 million through Election Day, far exceeding original expectations of $196 million.
Scripps expects 2020 company free cash flow to exceed $280 million, or at least $3.42 of free cash flow per share. Scripps' pre-pandemic free cash flow guidance was $225-$250 million.
Scripps' workforce continues to operate remotely with minimal impact to business continuity.
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The E.W. Scripps Company published this content on 30 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2020 19:32:05 UTC
The E.W. Scripps Company is a diverse media enterprise that serves audiences and businesses through a portfolio of more than 60 local television stations in more than 40 markets and national news and entertainment networks. Its Local Media segment includes more than 60 local television stations and their related digital operations. Its television station group includes approximately 25% of the nationâs television households and includes 18 ABC affiliates, 11 NBC affiliates, nine CBS affiliates and four FOX affiliates. It also has seven CW affiliates-four on full power stations and three on multicast; seven independent stations and 10 additional low power stations. Its Scripps Networks segment includes national news outlets Scripps News and Court TV, as well as entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery and Laff. The networks reach nearly every United States television home through free over-the-air broadcast, cable/satellite, connected TV and digital distribution.
THE E.W. SCRIPPS COMPANY 
