![]() ![]() This is consistent with what we shared with you back at our most recent Investor's Day, our commitment to put equal energy and focus on short-term results, while creating long-term shareholder value. In a moment, I'll talk you through the factors affecting our Digital division and then discuss the company - the start of a companywide comprehensive restructuring effort that ultimately will best align our company costs with our business goals. Thanks for joining us as we parse through them with you and explain this short-term issues and the positive longer term outlook. We do have some noise in the numbers, however. This morning we're reporting financial results that mostly met our expectations. Also in the room are Radio Division Head, Steve Wexler and Controller and Treasurer, Doug Lyons. We'll hear first this morning from Scripps' President and CEO, Adam Symson then Interim Chief Financial Officer, Lisa Knutson and Local Media President, Brian Lawlor. The link to the replay will be up there this afternoon and available for a week. You also can sign up to receive e-mails anytime we disclose financial information and you can listen to an audio replay of this call. You can visit for more information, such as today's release and financial tables. Factors that may cause them to differ are outlined in our SEC filings. A reminder that our conference call and webcast include forward-looking statements and actual results may differ. Scripps Company's third quarter 2017 results. Thanks for joining us for a discussion of The E.W. Your host and speaker, Head of Investor Relations for Scripps, Carolyn Micheli. As a reminder, this conference is being recorded. Later we will conduct a question-and-answer session. At this time, all participants are in a listen-only mode. And welcome to the Scripps' Third Quarter Earnings Call. Ladies and gentlemen thank you for standing by. Scripps Company ( NASDAQ: SSP) Q3 2017 Results Earnings Conference Call Novem9:00 AM ETĬarolyn Micheli - Head, Investor Relations “The Q1 guide indicates national ads are still challenged at Networks, dragging EBITDA guidance to about $62 million vs our $84 million estimate,” Wells Fargo analyst Steven Cahall said.The E. Looking ahead to the first quarter, Scripps said it expects local media revenue to be down by mid-single digits and Scripps Networks revenue to be down by high-single digits. The head of Scripps Networks, Lisa Knutson, was promoted to chief operating officer. Revenue dropped 9.2% to $248 million as the national advertising marketplace softened, the company said. Revenue rose 24% to $433 million, with core advertising revenue down 11% to $164 million $106 million in political advertising, up from $11 million a year ago, and distribution revenue up 5.4% to $160 million.Īt Scripps Networks, segment profit fell to $80 million from $106 million a year ago. Scripps’s local-media division had a segment profit of $152 million, up from $82.2 million a year ago. Our end goal, however, is not just a more efficient structure but a smarter one, designed to use the breadth of our assets to accelerate the company’s growth,” he said. ![]() ![]() “We expect to realize savings of at least $40 million. Symson said the reorganization will generate savings by centralizing some services and consolidating layers of management. Also: Scripps Sees Opportunity in 'Broken' RSN Business ![]()
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