Scripps Redeems Note Issues Prior to Maturity
Fri, June 06, 2008 by Tim Stautberg
CINCINNATI - The E. W. Scripps Company has redeemed three note issues in advance of the previously announced spin-off of its Scripps Networks and Interactive Media divisions into a separate publicly traded company, Scripps Networks Interactive.
When Scripps announced the transaction in October 2007, the company indicated it would redeem the note issues prior to the separation, which currently is scheduled for July 1.
Information on the three note issues is as follows:
- $100,000,000 original principal amount, 4.25% Notes due December 15, 2009; remaining principal balance was $86,250,000;
- $150,000,000 original principal amount, 4.30% Notes due June 30, 2010; remaining principal balance was $112,930,000;
- $200,000,000 original principal amount, 5.75% Notes due July 15, 2012; remaining principal balance was $185,445,000.
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 15 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.