Scripps plans to redeem $400 million 5 1/8% notes due 2025

By Wendy Van Sickle

Columbus, Ohio, April 15 – E.W. Scripps Co. plans to redeem its $400 million outstanding 5 1/8% senior notes due 2025 (Cusip: 811054AG0), according to a news release.

The notes will be redeemed at 102.563 plus accrued interest on May 15.

The redemption will be funded using cash on hand.

“Scripps’ highest priority for capital allocation is to move rapidly toward reducing the debt we incurred to make a series of strategic and accretive acquisitions in recent years, including the purchase of ION that transformed us into a full-scale local and national television company,” Scripps president and chief executive officer Adam Symson said in the release.

US Bank is the trustee.

E.W. Scripps is a Cincinnati-based broadcasting and digital media company.

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