Vanguard Trims E.W. Scripps Class A Stake to 9.1%

TL;DR

**Vanguard cut its E.W. Scripps Class A stake to 9.1%, signaling a potential reevaluation.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in E.W. Scripps Company Class A Common Stock. As of December 29, 2023, Vanguard reported beneficial ownership of 7,377,203 shares, representing 9.1% of the company's outstanding Class A shares. This filing indicates a slight decrease in Vanguard's stake from its previous disclosure, which could signal a shift in their investment strategy or a rebalancing of their portfolio, potentially influencing other institutional investors and the stock's perceived value.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its position in E.W. Scripps, which could be interpreted by the market as a lack of strong conviction or a move to reallocate capital elsewhere.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding like Vanguard's can sometimes precede further selling pressure or indicate concerns about the company's future performance.

Analyst Insight

Investors should monitor future institutional filings for E.W. Scripps to see if other major holders are also adjusting their positions, which could provide further insight into market sentiment for the stock.

Key Numbers

• 7,377,203 — Shares Beneficially Owned (The number of E.W. Scripps Class A shares Vanguard holds as of December 29, 2023.)
• 9.1% — Ownership Percentage (The percentage of E.W. Scripps Class A outstanding shares owned by Vanguard.)
• February 13, 2024 — Filing Date (The date this SC 13G/A amendment was filed with the SEC.)
• December 29, 2023 — Event Date (The specific date that triggered the requirement for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• E.W. Scripps Company (company) — issuer of the securities
• 7,377,203 shares (dollar_amount) — number of Class A Common Stock beneficially owned by Vanguard
• 9.1% (dollar_amount) — percentage of Class A Common Stock beneficially owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

• Other institutional investors may review their positions in E.W. Scripps following Vanguard's reduced stake. (E.W. Scripps Company) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tv0803-ewscrippscompanyclass.htm (SC 13G/A) — 11KB
• 0001104659-24-020803.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: E. W. Scripps Company Class A

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: Scripps Center, 312 Walnut Street, Suite 2800 Cincinnati, OH 45202

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 811054402

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR