What Happened?
Shares of media, broadcasting, and digital services company E.W. Scripps (NASDAQ: SSP) jumped 4.3% in the afternoon session after the company announced an expansion of its digital distribution with the launch of six of its national channels on Peacock's streaming platform. The channels involved in the deal are ION, ION Mystery, Bounce, Court TV, Court TV Legendary Trials, and Scripps News. This partnership significantly expands Scripps' digital distribution, positioning the company to reach audiences who are moving away from traditional cable television to streaming services. As the trend of "cord-cutting" continues to accelerate, this strategic move allows Scripps to tap into Peacock's large user base, potentially boosting its viewership and relevance in an evolving media landscape. The deal also enhances Peacock's own 24/7 channel offerings, which already include content from major players in sports, news, and entertainment.
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What Is The Market Telling Us
E.W. Scripps’s shares are extremely volatile and have had 90 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 9 days ago when the stock gained 27.2% on the news that the latest Consumer Price Index (CPI) report showed inflation holding steady, bolstering investor optimism for a potential interest rate cut by the Federal Reserve. The data, which revealed that inflation remained at 2.7% for the year ending in July, was seen as a positive sign by investors. This stability increases the likelihood that the Federal Reserve might lower interest rates at its upcoming September meeting. Lower interest rates can stimulate the economy by making borrowing cheaper for both consumers and businesses, which often translates into higher consumer spending. This is particularly beneficial for the Consumer Discretionary sector, which includes companies selling non-essential goods and services like apparel, travel, and electronics.
E.W. Scripps is up 23.2% since the beginning of the year, but at $3.11 per share, it is still trading 25.2% below its 52-week high of $4.15 from July 2025. Investors who bought $1,000 worth of E.W. Scripps’s shares 5 years ago would now be looking at an investment worth $279.30.
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