Form 8-K
 
 

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): June 13, 2011

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)   (Commission File Number)   (IRS Employer Identification No.)
     
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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
THE E.W. SCRIPPS COMPANY
INDEX TO CURRENT REPORT ON FORM 8-K
             
Item No.       Page
5.02
  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers     3  
 
9.01
  Financial Statements and Exhibits     3  

 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The E.W. Scripps Company filed the attached press release relating to the appointment of Timothy E. Stautberg to senior vice president of the newspaper division on June 13, 2011. Mr. Stautberg will continue to perform the duties of the chief financial officer until a successor is named. Mr. Stautberg’s annual base salary in his new rule will be $440,000. Consistent with the Company’s policy recognizing internal promotions, Mr. Stautberg has been granted time-based restricted share units (“RSUs”) with an award value of $200,000 effective July 1, 2011. The award value will be converted into a number of RSUs based on the average closing share price for the 30 trading days preceding and including the effective date of the grant.
Item 9.01 Financial Statements and Exhibits
             
Exhibit       Exhibit No.
Number   Description of Item   Incorporated
99.1
  Press release dated June 14, 2011     99.1  

 

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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/Douglas F. Lyons    
    Douglas F. Lyons   
    Vice President and Controller   
 
Dated: June 15, 2011

 

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Exhibit 99.1
Exhibit 99.1
(EW SCRIPPS LOGO)
Top Scripps executive to run newspaper division
     
For immediate release   (NYSE: SSP)
June 14, 2011    
CINCINNATI — Timothy E. Stautberg, a former newspaper executive who most recently served as The E.W. Scripps Company’s senior vice president, chief financial officer and treasurer, has been named the senior vice president of the company’s newspaper division, effective immediately.
Stautberg, 48, will lead a portfolio of newspapers and affiliated digital products in 13 markets from coast to coast. Among the largest local newspaper brands owned by Scripps are the Memphis Commercial Appeal, Naples (Fla.) Daily News, Ventura County (Calif.) Star, Corpus Christi (Texas) Caller Times and the Knoxville (Tenn.) News Sentinel.
“Tim Stautberg was the very best choice as we reviewed executive talent that could guide our newspaper markets to a successful future,” said Rich Boehne, Scripps president and chief executive officer. “He understands that, despite changing business conditions, there is an economic benefit to be gained from great journalism that builds stronger communities. He’ll keep our employees’ focus where it belongs — on the news consumers who rely on our local brands for meaningful local content and analysis, and the advertisers who count on Scripps to deliver efficient and effective marketplaces through high-quality print and digital products and services.”
In his role as CFO, Stautberg initiated plans that led to a restructuring of the newspaper division, reorganizing functionally with division executives leading content, sales, finance, operations, information technology and human resources across all geographies. The reorganization will enable leadership of each newspaper to focus energy and resources on content and sales as top local priorities.
“At a time when local audiences and advertising dollars are migrating to new media platforms, we need to adjust our product offerings in ways that continue to bring value to our local customers, broadly defined,” said Stautberg. “And yet it would be folly to ignore the inherent value of the products we print and distribute in our local markets, products which also inform, engage and empower our readers and offer advertisers unparalleled reach. As our business model continues to evolve, remaining focused on the needs of our customers will serve us well.”
Stautberg will continue to perform the duties of the chief financial officer until a successor is named at the conclusion of a nationwide search.

 

 


 

Since 2008, Stautberg has had oversight responsibility for the company’s accounting, treasury, tax, risk management, and information technology functions. He also oversaw strategic planning and corporate development for the company, and in 2009 added the responsibilities of treasurer. In 2010, he was named “CFO of the Year” by the Cincinnati Business Courier. Stautberg previously served nine years as Scripps’ vice president of communications and investor relations.
Stautberg joined Scripps in 1990 as part of the company’s executive development program. In 1992, he was assigned to work at the Rocky Mountain News in Denver. While in Denver he managed the newspaper’s alternate delivery subsidiary and was responsible for newsprint and circulation accounting. As assistant to the publisher at the Rocky Mountain News from 1995 to 1997, he was responsible for strategic planning and special projects. In 1996 he also assumed responsibility for the Rocky’s newly formed new media department and early development of its Web site.
In 1997, Stautberg was named vice president and general manager of the Record Searchlight, the Scripps newspaper in Redding, Calif. As general manager he led the newspaper’s business operations and was responsible for sales, marketing, production, distribution, finance and administration.
Stautberg has a bachelor’s degree in economics from Kenyon College and a master’s degree in business administration, with a specialization in finance, from The University of Chicago. Prior to joining Scripps, Stautberg worked for five years as a commercial banking officer for Harris Trust and Savings Bank in Chicago.
Stautberg currently serves on several boards in Greater Cincinnati including the May Festival Association board of trustees, past president; Beech Acres Parenting Center board of trustees, treasurer; and the Economics Center for Education and Research at the University of Cincinnati board of trustees.
He replaces Mark Contreras, who led the newspaper division for six years prior to his departure on May 25, 2011.
About Scripps
The E.W. Scripps Company is a diverse media enterprise with interests in television stations, newspapers, local news and information Web sites, and comic/feature syndication. For a full listing of Scripps media companies and their associated Web sites, visit http://www.scripps.com.
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Contact Tim King, The E.W. Scripps Company, 513-977-3732
tim.king@scripps.com