Capitalizing on its momentum in over-the-top television, Newsy, the national news network focused on millennial audiences, has launched a major expansion into the cable and satellite marketplace, kicked off by The E.W. Scripps company´s (NYSE: SSP) acquisition of carriage contracts from the Retirement Living Television (RLTV) cable network, the company said.
Scripps will take over RLTV´s carriage agreements for about 26 million subscribers and reprogram the network with Newsy´s lineup of shows already available on major OTT services including YouTubeTV and SlingTV. The transition from RLTV to Newsy will begin over the next few months, and Newsy expects to expand its reach to about 40 million cable and satellite subscribers by the end of 2018.
The acquisition´s purchase price is based on the number of subscribers that come under contract with the cable companies and convert to Newsy. The final purchase price could be up to USD 23 million, no more than 93 cents per subscriber.
Newsy features in-depth coverage of the day´s top world and US news stories, crafted by and for millennials. Newsy´s storytelling is wrapped into a new original programming lineup that includes the evening newsmagazine “The Why,” and soon will include the morning show “The Day Ahead” and the newsmaker spotlight program “30 Minutes With.” Newsy´s programming strategy reflects its signature approach — insight, context and sources focused on solutions. Newsy´s OTT programming has garnered a loyal audience of 18-34-year-olds.
The E.W. Scripps company (NYSE: SSP) serves audiences and businesses through a growing portfolio of television, radio and digital media brands. With 33 television stations, Scripps is one of the nation´s largest independent TV station owners. Scripps runs an expanding collection of local and national digital journalism and content businesses, including Newsy, the next-generation national news network; and podcast industry leader Midroll Media.