Newspaper Pure-Play Scripps Booted From S&P 500

By: Mark Fitzgerald When E.W. Scripps splits into two publicly traded companies, the one focusing on the newspaper business will leave the S&P 500, Standard & Poor's announced.

Instead, the spin-off Scripps Networks Interactive, which includes Scripps high-flying cable TV channels, will take the place of E.W. Scripps on the stock market index. Following the July 1 split-up, E.W. Scripps will operate the company's newspaper, local TV stations, and syndication businesses.

The new E.W. Scripps the S&P SmallCap 600 GICS Publishing Sub-Industry index, Standard and Poor's said.

Other companies with substantial newspaper holdings listed on the S&P 500 are The New York Times Co., The Washington Post Co., and News Corporation.