Scripps' split into two companies official
By Leah McBride Mensching, Wednesday 2 July 2008 at 18:50 :: General :: #1867 :: rss
The E.W. Scripps Co. on Tuesday officially divided into two companies, one company running newspapers local television stations and the other operating online businesses and cable TV channels, the New Mexico Business Weekly reported.
The online and cable unit is now known as Scripps Networks Interactive Inc., and the newspaper, local TV, licensing and syndication unit will continue under the E.W. Scripps name and its current stock symbol, SSP, on the New York Stock Exchange.
Scripps Interactive includes U.S. cable channels such as the Food Network, HGTV and online shopping Web site Shopzilla, and is trading on the NYSE under the symbol “SNI,” according to the New Mexico Business Weekly.
Stock for the interactive company opened at US$38.35 per share, and closed at $40.51 Tuesday. Meanwhile, E.W. Scripps shares closed at $3.05, down 4.39 percent from their closing price Monday of $3.19 each, the business weekly reported.
Scripps is based in Cincinnati, Ohio, and announced the planned spin off in October 2007.
Comments
No comment.
Post comment