Scripps Co. to Sell Some Stock
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CINCINNATI — E. W. Scripps Co., the privately held parent corporation of the Scripps Howard Media Group, announced Tuesday that it plans to sell some of its limited-voting common stock to the public.
The newspaper publishing company said that the number of shares to be sold had not been determined but that control of the company would remain with the founding Scripps family.
It said the required paper work was expected to be filed with the federal Securities and Exchange Commission next month.
Lawrence A. Leser, president and chief executive, said the stock sale was intended to pay off debt incurred for the company’s acquisition program begun in 1986 and to finance further growth.
Leser said it also would provide liquidity for members of the Scripps family.
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