Scripps Radio Business 'Undervalued,' Kupinski Says
The value of E.W. Scripps’ radio business, which it plans to sell as part of restructuring, is “understated,” Noble Capital Markets analyst Michael Kupinski emailed investors Friday. “Street estimates” for the radio business' value appear “too low and we estimate…
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the value in the range of $55 million to $77 million,” Kupinski said. The company announced plans to sell its 34 radio stations in a release on the restructuring Thursday. Savings from the restructuring are likely to begin in Q4, Kupinski said. The broadcaster has said the savings will be $30 million in the next 12 to 18 months.