daninfw24
Oct 6, 6:54 PM
$EVC there was a reason that insiders sold over 10 million shares just a few months ago. Keep in mind they still have the
$25 million-
$30 million lawsuit still pending. Apparently they believe they’re going to lose because they have already written off almost that much a quarter or two back. However, the right off hit their financial earnings, but not balance sheet. When the court rules they’re going to have to pay about 40% of their total cash out to the landlord. not a lot of bright spots here. They spent millions setting up more news operations and hiring new staff when every other broadcaster in the business is cutting back in this area. EW Scripps has already laid off over 300 and their news operations in the last 2 to 3 months. Looks like we’ll definitely be in the fives by the end of the week.
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