Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Iconix Brand Group Inc    ICON

News SummaryMost relevantAll newsSector news 

ICONIX BRND : Scripps Completes Sale of United Media

06/03/2010 | 03:00pm US/Eastern

CINCINNATI, June 3 /PRNewswire-FirstCall/ -- The E.W. Scripps Company (NYSE: SSP) has completed the sale of its character licensing business to Iconix Brand Group, Inc. (Nasdaq: ICON) for $175 million in cash. The sale price is subject to a post-closing adjustment for working capital.

United Media Licensing works with more than 1,250 licensees in approximately 40 countries. The majority of licensing revenue is generated by products associated with the characters of the Peanuts comic strip, which Scripps brought to market in 1950.

Scripps still owns United Media's syndication operation and will continue to syndicate comic strips and editorial features that are developed and marketed worldwide through United Feature Syndicate and Newspaper Enterprise Association.

A range of options is being considered for the after-tax proceeds from the sale. Making voluntary, tax-advantaged contributions to the company's defined benefit pension plans is among the top priorities.

About Scripps

The E.W. Scripps Company is a diverse, 131-year-old media enterprise with interests in television stations, newspapers, local news and information Web sites, and content syndication. The company's portfolio of locally focused media properties includes: 10 TV stations (six ABC affiliates, three NBC affiliates and one independent); daily and community newspapers in 13 markets and the Washington, D.C.-based Scripps Media Center, home of the Scripps Howard News Service; and United Media, the syndicator of approximately 150 features and comics. For a full listing of Scripps media companies and their associated Web sites, visit http://www.scripps.com/.

SOURCE The E.W. Scripps Company

React to this article
01/28 ICONIX BRAND : Entry into a Material Definitive Agreement, Amendments to Article..
01/27 ICONIX BRAND : Adopts Short-Term Shareholder Rights Plan
01/22DJLONDON MARKETS : FTSE 100 Logs Best One-day Gain In A Month As Oil Surges
01/22DJLONDON MARKETS : FTSE 100 Climbs As A Rebound In Oil Powers Energy Stocks
01/22DJLONDON MARKETS : FTSE 100 On Path Toward First Weekly Win In A Month
01/14 Sports Direct takes US stakes
01/14 Mike Ashley muscles in on US sports firms
01/13 ICONIX BRAND : Change in Directors or Principal Officers (form 8-K)
01/13 Britain's Sports Direct buys stakes in U.S. firms Iconix and Dick's​
01/13 Sports Direct Has Indirect Interests In Iconix, Dick's Sporting Goods