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.