Why E.W. Scripps Stock Fell 17.1% This Week

E.W. Scripps (NASDAQ: SSP) saw its stock price drop about 17.1% this week as of Friday at 12:40 p.m. ET, according to S&P Global Market Intelligence. The stock had been down as much as 19% earlier in the week, and Scripps was down roughly 55% year to date.

It was not a particularly good week for the markets overall as the S 500 was off 1.2%, the Dow Jones Industrial Average dropped 0.7%, and the Nasdaq Composite fell 1.7%, as of Friday at 12:40 p.m. ET.

Scripps is one of the largest owners of local television stations, with a portfolio of 61 stations in 41 markets. It also owns several broadcast networks, including Court TV, Scripps News, ION, Bounce, ION Mystery, and Laff.

Source Fool.com