Getting your player ready...
Shareholders of the E.W. Scripps Co., the parent of the Rocky Mountain News, agreed to a 1-for-3 reverse stock split Tuesday in a move that will boost the company’s per- share price.
The split will reduce the number of outstanding shares from 163 million to about 54 million, while taking the share price, which closed at $3.20 Tuesday, to around $9.60. The split is effective before trading begins this morning.
