E.W. Scripps To Wind Down Scripps News' 24/7 National Network Programming After November 15; To Eliminate More Than 200 Jobs - Filing
Portfolio Pulse from Benzinga Newsdesk
E.W. Scripps is winding down its Scripps News 24/7 national network programming after November 15, resulting in over 200 job cuts. The network will continue on streaming and digital platforms. Kate O’Brian, President of Scripps News, will leave the company at year-end.
October 01, 2024 | 9:45 pm
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E.W. Scripps is ending its 24/7 national network programming for Scripps News, leading to over 200 job cuts. The network will continue on streaming and digital platforms. President Kate O’Brian will leave by year-end.
The decision to wind down the 24/7 national network programming and cut over 200 jobs is likely to have a negative short-term impact on SSP's stock price due to potential restructuring costs and market perception of downsizing. However, the continuation on digital platforms may mitigate some negative effects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100