Newsy, the national OTT news network focused on millennial audiences, has launched a major expansion into the cable and satellite marketplace, kicked off by the E.W. Scripps Co.’s purchase of carriage contracts from the Retirement Living Television (RLTV) cable network.
Scripps will take over RLTV’s carriage agreements for about 26 million subscribers and reprogram the network with Newsy’s lineup of shows already available on major OTT services including YouTubeTV and SlingTV. The transition from RLTV to Newsy will begin over the next few months, and Newsy expects to expand its reach to about 40 million cable and satellite subscribers by the end of 2018.
Scripps said the acquisition’s purchase price is based on the number of subscribers that come under contract with the cable companies and convert to Newsy. The final purchase price could be up to $23 million, no more than 93 cents per subscriber.
“Newsy has already made a name for itself among millennial news consumers who rely on over-the- top television. Now we’ll be reaching Americans with cable and satellite service who are looking for a fresh approach to news coverage,” said Adam Symson, president-CEO of Scripps. “This expanded reach for our advertising business alongside carriage fees furthers our strategy to develop Newsy as a prominent multi-platform news network with dual revenue streams.”
Newsy features in-depth coverage of the day’s top world and U.S. news stories, crafted by and for millennials. Newsy’s storytelling is wrapped into a new original programming lineup that includes the evening newsmagazine The Why, and soon will include the morning show The Day Ahead and the newsmaker spotlight program 30 Minutes With. Newsy’s programming strategy reflects its signature approach — insight, context and sources focused on solutions, particularly for 18-34-year-olds.
