The E. W. Scripps Company (NYSE:SSP) Q1 2015 Earnings Conference Call Transcript

May 08, 2015 • 09:00 am ET

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The E. W. Scripps Company (NYSE:SSP) Q1 2015 Earnings Conference Call Transcript

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Operator
operator

Ladies and gentlemen, good morning thank you for standing by. And welcome to the first quarter 2015 Scripps Company earnings conference call. At this time, all lines are in a listen-only mode. Later, there will be an opportunity for your questions and instructions will be given at that time. (Operator instructions) As a reminder, your conference is being recorded.

I would now like to turn the conference over to our host, Vice President, Investor Relations Ms. Carolyn Micheli. Please go ahead.

Executive
Carolyn P. Micheli

Thank you, Tom. Good morning, everyone. And thank you for joining us for a recap of The E. W. Scripps Company's first quarter results. A reminder that this conference call and webcast includes forward-looking statements and actual results may differ. Factors that may cause them to differ are outlined in our SEC filings.

You can visit scripps.com for more information, such as today's release and financial tables. You also can sign-up to receive e-mails anytime we disclose financial information, and you can listen to an audio replay of this call. The link to that replay will be up there this afternoon and available for a week.

Now, here is our CEO, Rich Boehne.

Executive
Richard A. Boehne

Thank you Carolyn and good morning everyone and welcome to the first earnings calls of Scripps that looks very different since April 1, when we closed our transaction with Journal Communications. We've got lots to cover with you today and we'll be speaking probably a little longer than we usually do. We'll also be in New York next Wednesday holding an Investor Day with a more in-depth discussion; we can answer a lot of questions then as well. Sure hope you can make it email, Carolyn Micheli if you need details about the event.

This morning you will hear first from our CFO, Tim Wesolowski, who will recap our first quarter results as the old Scripps, our news papers are now operating as part of the new Journal Media Group in Milwaukie. In the second quarter we will begin to report without the newspapers but obviously with the former Journal Communications Broadcast operations merged into Scripps.

Tim also will walk you through 2013, 2014 numbers that look at our company as though we had merged in Journal Broadcast assets at the beginning of 2013. We're calling those adjusted combined results and the goal is to help you with your modeling. And then Tim will share guidance for our second quarter and full-year 2015 results which are based on comparisons to the 2014 adjusted combined results.

If you look at it all together with all the pieces on one canvas, the picture we will paint for you this morning depicts a new company that emerges from a transformative transaction during the balance of 2015 and sets up for a strong performance in 2016. As you know, we welcomed 1,350 new employees from 12 new TV stations and 34 radio stations; we are now one of the largest nation's largest independent television station owners with 33 stations that reached