CINCINNATI – The E. W. Scripps Company, which intends to separate into two publicly traded corporations this summer, has named additional members of the management teams that will lead the media businesses after the transaction is completed.
The two companies that would result from the separation are:
Two of the appointments announced today involve The E. W. Scripps Company. John Wolfzorn, 62, the vice president and treasurer, will continue to hold that position after the separation. He joined the company in 1973 as a financial analyst, was promoted to assistant treasurer in 1975 and was named treasurer in 1979. In 2002, his role was expanded to included greater financial management duties when he was promoted to vice president.
David Giles, 47, will become deputy general counsel. He was named associate general counsel in 2004 after working for 10 years as an associate with the law firm of Baker & Hostetler. While with the firm, he represented nationally known media clients such as FOX Television and Granite Broadcasting Co.
Four senior leaders were named to the management team at Scripps Networks Interactive:
“Today’s announcement adds six distinguished names to the growing list of talented executives who will lead these organizations,” said Kenneth W. Lowe, the president and chief executive officer of The E. W. Scripps Company, who will become the chairman, president and CEO of Scripps Networks Interactive after the separation. “I’m confident that the contributions made by these seasoned leaders will significantly help both companies as they blaze new trails of media excellence.”
In October, the board of directors unanimously authorized management to pursue a plan separating Scripps into two companies – one focused on creating national lifestyle media brands and the other on building market-leading local media franchises. Completion of the separation will be contingent upon a favorable ruling from the Internal Revenue Service on the tax-free nature of the transaction, the filing and effectiveness of a Form 10 registration statement with the Securities and Exchange Commission, and final approval by the board of directors and holders of the company’s Common Voting Shares.
The proposed separation would take the form of a tax-free dividend of stock in Scripps Networks Interactive distributed to all Scripps shareholders on a pro-rata basis. The separation is expected to be completed in the second quarter of 2008.
About Scripps
The E. W. Scripps Company (www.scripps.com) is a diverse and growing media enterprise with interests in national cable networks, newspaper publishing, broadcast television stations, 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 16 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; Scripps Interactive Media, including 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.