12 Best Broadcasting Stocks to Buy Right Now

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8. E W Scripps Co. (NASDAQ:SSP)

Number of Hedge Fund Holders: 17

E W Scripps Co. (NASDAQ:SSP) is a media company in the US that operates a portfolio of local television stations, national news and entertainment networks, and digital platforms. It provides news, sports, and entertainment content to audiences across various platforms.

The Local Media division grew in Q3 2024, with revenue surging 26% year-over-year. This was because of a record amount of political advertising revenue which reached $125 million. However, local core advertising revenue declined by 9% due to displacement in key markets. Looking ahead, this division is poised for growth, and the overall company revenue is expected to be up in the low to mid-30% range in Q4 due to the momentum in political advertising.

The company is also investing in areas such as live sports programming, with initiatives like Big Sky Conference football driving revenue growth and creating new advertising opportunities. E W Scripps Co. (NASDAQ:SSP) renewed its affiliation agreement with NBC in the first week of January. This ensured that 11 of its television stations would continue to broadcast NBC programming. This multi-year deal solidifies a long-standing partnership, which allows the company to continue providing viewers with NBC’s content. This includes news, entertainment, and sports, such as NBA games. This follows the successful renewal of its affiliation agreement with CBS in the previous fall. These factors position the company for continued growth.

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