Scripps board of directors authorizes new $100 million share repurchase program

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Nov 08, 2016, 03:49 ET

CINCINNATI, Nov. 8, 2016 /PRNewswire/ -- The board of directors of The E.W. Scripps Co. (NYSE: SSP) today authorized a new share repurchase program up to $100 million of the company's Class A common shares.

The shares may be repurchased from time to time at management's discretion, either in the open market, through pre-arranged trading plans or in privately negotiated block transactions. This authorization runs from Jan. 1, 2017, to Dec. 31, 2018.

The last repurchase program, which the board of directors authorized in May 2014, expires Dec. 31, 2016.

About Scripps
The E.W. Scripps Company (NYSE: SSP) serves audiences and businesses through a growing portfolio of television, radio and digital media brands. Scripps is one of the nation's largest independent TV station owners, with 33 television stations in 24 markets and a reach of nearly one in five U.S. households. It also owns 34 radio stations in eight markets. Scripps also runs an expanding collection of local and national digital journalism and information businesses, including multi-platform satire and humor brand Cracked, podcast industry leader Midroll Media and over-the-top video news service Newsy. Scripps also produces television shows including "THE LIST" and "The Now," runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the long-time steward of the nation's largest, most successful and longest-running educational program, the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."

SOURCE The E.W. Scripps Company