CINCINNATI, Feb. 10, 2017 /PRNewswire/ -- The E.W.
Scripps Company (NYSE: SSP) will not receive proceeds from the
Federal Communications Commission's auctioning of broadcast
spectrum.
This week, the FCC lifted a quiet period it had imposed on
station groups regarding the auction, allowing broadcasters to
publicly share their auction results.
"We pursued several channel-share arrangements with ourselves
and other broadcast partners that would have allowed us to continue
to operate our stations and serve our local communities while
supporting the government in its attempt to recapture some
broadcaster spectrum," said Brian
Lawlor, senior vice president, broadcast, for
Scripps. "However, none of the spectrum we or our partners
offered was selected during the auction process because the prices
available in the auction fell below the value we ascribed to it.
Scripps will continue to serve each of our local communities using
our full spectrum capacity as allocated by the FCC."
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."
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SOURCE The E.W. Scripps Company