April 17, 2017 / 10:08 PM / 4 months ago

BRIEF-Scripps launches proposed private placement of senior notes

April 17 (Reuters) - E. W. Scripps Co:

* Scripps launches proposed private placement of senior notes

* Says has launched an offering of $400 million of new senior unsecured notes

* Notes are expected to mature in 2025 and will be guaranteed by certain of company's existing and future subsidiaries

* Says proceeds from offering will be used to repay existing $391 million term loan B due in 2020, to pay related fees and expenses

* Is seeking to amend and restate existing $100 million senior secured revolving credit facility to increase borrowing capacity to $125 million

* In conjunction with notes issuance, co is seeking to extend maturity of existing senior secured revolving credit facility to 2022

* Company expects first-quarter 2017 operating results to be consistent with its prior expectations

* Expects first-quarter 2017 operating results to be consistent with its prior expectations

* Q1 television revenue expected to be flat, radio revenue expected to decrease in mid-single-digit range, digital revenue to increase in mid-20 percent range

* Sees Q1 television revenue flat, radio revenue down mid-single-digit range, digital revenue up mid-20 percent range Source text for Eikon: Further company coverage:

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