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Scripps Interactive Begins Trading Today; Shares Down About 15 Percent

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.

One Response to “Scripps Interactive Begins Trading Today; Shares Down About 15 Percent”

  1. This is exciting, I think the new company will do quite well. However, I think they missed a few details :) <- if you look there, it's filled with 'lorem ipsum dolor sit amet" type text. the old URL for scripps interactive gives you a 404 error.

    If they'd planned the online news & information distribution as carefully as they had the split into two new companies, I think it'd be easy to get a run down of their vertical markets, and their targets – however, it's hard to get such info from a simple Google search right now, which is shocking, as I thought they'd be better organized for the big news day.

    Still, I wish them every success & think it's an exciting company. HGTV / Fine Living are two channels that still make my "watch list" while my overall TV consumption has dropped to about 5-10 hours / week.