As previously announced last month, Scripps Interactive (NYSE: SNI) officially begins trading today as an independent company. The companies won final SEC approval for the split about two weeks ago. Shares are trading on the NYSE under the ticker “SNI”. The split, which was affected via a tax-free dividend to shareholders, was first announced last October. Release.
Updated: Scripps Interactive’s shares are down almost 15 percent on its first day of trading this afternoon. Meanwhile, CNBC’s Julia Boorstin interviewed CEO Ken Lowe, and he said he has no plans to sell off any of the company’s assets. He also said that while there are no major acquisitions in the works, the company will be looking for purchases in the $25 to $50 million range. The video is here.