The Scripps National Spelling Bee has once again provided a boost to E.W. Scripps stock. With the finals of the 2011 Bee scheduled tonight the media company’s stock closed 21 cents higher this afternoon.
Coincidence? Maybe. But it seems that the media company’s stock always gets a bump from the bee. Scripps is the News Sentinel’s parent company.
Speaking of the Spelling Bee, I once covered the finals of the local bee in Louisville, Ky. Business First, the business journal I worked for in the early ’90s, had picked up sponsorship of the bee after the previous sponsor backed out.
As a I remember it there was some controversy about the competition being too stressful for kids.
What a crock. Sure, there was stress, but the kids I saw loved the competition. They had worked hard preparing for the bee and wanted to show they world what they could do.
Tune in to ESPN tonight and see for yourself. The bee finals are scheduled to air at 8:30 p.m.