With Netflix eliminating some 1,000 jobs and the ability of political action committees to use the “lowest unit rate” when book election-focused ads in question, it’s a bumpy time for investors convinced that broadcast television companies are worthy of their dollars. On Wednesday, one company in particular had a tough trading session. And, with one hour to go before the Closing Bell, The E.W. Scripps Co. was on track to hit a fresh year-to-date low.
Then, a rapid recovery came, avoiding that from happening.
At 3:05pm, “SSP” was priced at $2.60 per share, reflecting an 8.5% decline from Tuesday’s close. Had Scripps fallen below that price, a new fresh low for 2026 would have transpired … just two weeks after the first dip to $2.60 was seen.
But then “SSP” climbed upward, with bargain hunters perhaps snapping up shares. At the Closing Bell, Scripps was down by 11 cents from yesterday but had recovered to finish the day at $2.73.
That’s still somewhat somber news for investors.
When 2026 began, Scripps shares were priced just above $4 per share and by April 20 were in the low $5 range. By mid-May, however, investors began to sell their stake in the company, which is transforming its local TV newsrooms across the U.S. and undergoing a wholesale shift it how it manages and staffs news teams at all Scripps properties.
By late June, it was believed that the bleeding had ceased for “SSP,” with a late August and early September recovery underway. That growth ceased as October began.
With earnings due November 5, and an earnings call for analysts and investors coming the following morning, CEO Adam Symson has been on a crusade convincing the financial world and its shareholders that it must transform its operation to remain competitive in a digital-first world. That said, the acquisition of ION Media was crushing to the company’s overall finances, adding considerable strain in an environment where core advertising trends remain glum and reliance on political advertising and OTT dollars is heightened.
