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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 26, 2006
THE E.W. SCRIPPS COMPANY
(Exact name of registrant as specified in its charter)
| Ohio | 0-16914 | 31-1223339 | ||
| (State or other jurisdiction of incorporation or organization) |
(Commission File Number) | (I.R.S. Employer Identification Number) |
| 312 Walnut Street Cincinnati, Ohio |
45202 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (513) 977-3000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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INDEX TO CURRENT REPORT ON FORM 8-K
| Item No. | Page | |||
| 8.01 | Other Events | 3 | ||
| 9.01 | Financial Statements and Exhibits | 3 | ||
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On September 26, 2006, we reached an agreement to sell our five Shop At Home-affiliated broadcast television stations to Multicultural Television Broadcasting LLC for $170 million. The transaction is expected to be completed over the next nine months pending license transfers and other approvals by the Federal Communications Commission.
A copy of the press release is filed as Exhibit 99.01.
Item 9.01 Financial Statements and Exhibits
| (c) | Exhibits |
| Exhibit Number |
Description of Item | |
| 99.01 | Press release dated September 26, 2006 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| THE E.W. SCRIPPS COMPANY | ||
| BY: | /s/ Anatolio B. Cruz III | |
| Anatolio B. Cruz III | ||
| Senior Vice President and General Counsel | ||
Dated: September 27, 2006
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Exhibit 99.01
PRESS RELEASE
Scripps sells Shop At Home TV stations
| For immediate release | (NYSE: SSP) | |
| Sept. 26, 2006 |
CINCINNATI – The E. W. Scripps Company has reached an agreement to sell the five Shop At Home-affiliated broadcast television stations it owns to Multicultural Television Broadcasting LLC for $170 million.
Multicultural Television, based in New York City, is acquiring WMFP-TV in Boston; WOAC-TV in Cleveland; WRAY-TV in Raleigh-Durham, N.C.; WSAH-TV in Bridgeport, Conn.; and KCNS-TV in San Francisco. The transaction is expected to be completed over the next nine months pending license transfers and other approvals by the Federal Communications Commission.
The sale of the television stations follows the decision by Scripps earlier this year to divest Shop At Home. In June, Scripps sold the Shop At Home television network, including its Nashville studios and other assets, to Jewelry Television for $17 million.
Multicultural Television Broadcasting is a newly formed limited liability company created by Multicultural Radio Broadcasting Inc, a leading multi-ethnic media company with radio stations, cable and satellite television operations, and printed publications serving consumers in more than 22 languages.
The E. W. Scripps Company (NYSE: SSP) is a diverse and growing media enterprise with interests in national cable networks, newspaper publishing, broadcast television stations, electronic commerce, interactive media, and licensing and syndication.
The company’s portfolio of media properties includes: Scripps Networks, with such brands as HGTV, Food Network, DIY Network, Fine Living and Great American Country; daily and community newspapers in 18 markets and the Washington-based Scripps Media Center, home to the Scripps Howard News Service; 10 broadcast TV stations, including six ABC-affiliated stations, three NBC affiliates and one independent; leading online search and comparison shopping services, Shopzilla and uSwitch; and United Media, a leading worldwide licensing and syndication company that is the home of PEANUTS, DILBERT and approximately 150 other features and comics.
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Contact: Tim Stautberg, The E. W. Scripps Company, 513-977-3826
Email: stautberg@scripps.com
and
Sean Kim, Multicultural Radio Broadcasting Inc., 212-966-1059
Email: seank@mrbi.net