E.W. Scripps Co. is “off to a hot start” with its sports broadcasting unit and “expects more opportunity to expand that segment,” according to Steve Watkins of the CINCINNATI BUSINESS COURIER. CEO Adam Symson told analysts and investors earlier this month that Scripps Sports “has been thriving since it began acquiring broadcast rights to teams and leagues a few months ago.” Scripps picked up local television rights to the Golden Knights and WNBA this spring. Symson said that both are “showing strong signs already.” Symson: “We're seeing at this point with the WNBA, every Ion WNBA telecast in July has been rated higher than ESPN's best WNBA telecast.” COO Lisa Knutson said that ratings for the WNBA games on Ion “jumped 42% from its first game in May through its 10th game in early August” and ad rates for those games have “soared 70% above rates for typical Ion programming.” Watkins notes Scripps stock has “fallen 28% since Aug. 4 to $7.74 at the Aug. 28 close.” But Symson said that he “sees a return to growth ahead as it offers a broad distribution strategy encompassing pay TV and over-the-air television” and “sports will be a big part of that.” Watkins notes Scripps is “looking to add other sports broadcast rights to its system,” whether it is on “local broadcast channels it owns like the Golden Knights deal or nationally on Ion as the WNBA arrangement is set up” (CINCINNATI BUSINESS COURIER, 8/29).
