SC 13G

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

THE E.W. SCRIPPS COMPANY

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

811054402

(CUSIP Number)

Paul Friedman

BlueMountain Capital Management, LLC

280 Park Avenue, 5th Floor East

New York, New York 10017

Telephone: 212-905-3990

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

December 31, 2012

(Date of Event which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

x Rule 13d-1(b)

¨ Rule 13d-1(c)

¨ Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 811054402   13G   Page 2 of 8 Pages

 

  1.   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

BlueMountain Capital Management, LLC (26-1523875)

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ¨        (b)  x

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Delaware, United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

    5.    

SOLE VOTING POWER

 

    00,000

   6.   

SHARED VOTING POWER

 

    3,871,184

   7.   

SOLE DISPOSITIVE POWER

 

    00,000

   8.   

SHARED DISPOSITIVE POWER

 

    3,871,184

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    3,871,184

10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)    ¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

    9.0%

12.  

TYPE OF REPORTING PERSON (see instructions)

 

    IA

CUSIP No. 811054402   13G   Page 3 of 8 Pages

 

  1.   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

BlueMountain GP Holdings, LLC (26-1523585)

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ¨        (b)  x

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Delaware, United States of America

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

    5.    

SOLE VOTING POWER

 

    00,000

   6.   

SHARED VOTING POWER

 

    3,436,227

   7.   

SOLE DISPOSITIVE POWER

 

    00,000

   8.   

SHARED DISPOSITIVE POWER

 

    3,436,227

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    3,436,227

10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)    ¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

    8.0%

12.  

TYPE OF REPORTING PERSON (see instructions)

 

    OO

CUSIP No. 811054402   13G   Page 4 of 8 Pages

 

  1.   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Blue Mountain Credit Alternatives Master Fund L.P. (98-0406591)

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ¨        (b)  x

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

    5.    

SOLE VOTING POWER

 

    00,000

   6.   

SHARED VOTING POWER

 

    2,193,685

   7.   

SOLE DISPOSITIVE POWER

 

    00,000

   8.   

SHARED DISPOSITIVE POWER

 

    2,193,685

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    2,193,685

10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)    ¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

    5.1%

12.  

TYPE OF REPORTING PERSON (see instructions)

 

    PN

CUSIP No. 811054402   13G   Page 5 of 8 Pages

 

  1.   

NAMES OF REPORTING PERSONS

I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

 

Blue Mountain CA Master Fund GP, Ltd. (98-0451186)

  2.  

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions)

(a)  ¨        (b)  x

 

  3.  

SEC USE ONLY

 

  4.  

CITIZENSHIP OR PLACE OF ORGANIZATION

 

    Cayman Islands

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON

WITH

    5.    

SOLE VOTING POWER

 

    00,000

   6.   

SHARED VOTING POWER

 

    2,193,685

   7.   

SOLE DISPOSITIVE POWER

 

    00,000

   8.   

SHARED DISPOSITIVE POWER

 

    2,193,685

  9.  

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

    2,193,685

10.  

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see instructions)    ¨

 

11.  

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

 

    5.1%

12.  

TYPE OF REPORTING PERSON (see instructions)

 

    OO

CUSIP No. 811054402    13G    Page 6 of 8 Pages

 

Item 1.  

(a)

    Name of Issuer      
     The E.W. Scripps Company      
 

(b)

    Address of Issuer’s Principal Executive Offices      
    

312 Walnut Street

Cincinnati, OH 45202

      
Item 2.  

(a)

    Name of Person Filing      
    

This Schedule 13G is being filed on behalf of BlueMountain Capital Management, LLC (“BMCM”), BlueMountain GP Holdings, LLC (“GP Holdings”), Blue Mountain Credit Alternatives Master Fund L.P. (“Credit Alternatives”), and Blue Mountain CA Master Fund GP, Ltd. (“Credit Alternatives GP” and together with BMCM, GP Holdings and Credit Alternatives, the “Reporting Persons”) with respect to the shares of Common Stock, par value $0.01 per share (the “Common Stock”) of The E.W. Scripps Company, a Delaware corporation (the “Issuer”).

 

BMCM acts as investment manager to, and exercises investment discretion with respect to the Common Stock directly owned by, the following entities:

      
    

(i)

   

Credit Alternatives, with respect to the 2,193,685 shares of Common Stock directly owned by it;

     
    

(ii)

   

BlueMountain Long/Short Credit Master Fund L.P., a Cayman Islands exempted limited partnership (“Long/Short Credit”), with respect to the 782,632 shares of Common Stock directly owned by it;

     
    

(iii)

   

BlueMountain Distressed Master Fund L.P., a Cayman Islands exempted limited partnership (“Distressed”), with respect to the 270,999 shares of Common Stock directly owned by it;

      
    

(iv)

   

BlueMountain Timberline Ltd., a Cayman Islands exempted limited company, with respect to the 215,204 shares of Common Stock directly owned by it;

      
    

(v)

   

BlueMountain Kicking Horse Fund L.P., a Cayman Islands exempted limited partnership (“Kicking Horse” and together with Credit Alternatives, Long/Short Credit and Distressed, the “Partnerships”), with respect to the 188,911 shares of Common Stock directly owned by it;

      
    

(vi)

   

BlueMountain Long Short Grasmoor Fund Ltd., a Cayman Islands exempted company, with respect to the 88,672 shares of Common Stock directly owned by it; and

      
    

(vii)

   

AAI BlueMountain Fund PLC, on behalf of its sub-fund BlueMountain Long/Short Credit and Distressed Reflection Fund, an Irish open-ended umbrella fund investment company incorporated as a public limited company with variable capital and with segregated liability between its sub-funds, with respect to the 131,081 shares of Common Stock directly owned by it.

      
    

Credit Alternatives GP serves as the general partner of Credit Alternatives, with respect to the Common Stock directly owned by Credit Alternatives. GP Holdings serves as the ultimate general partner of each of the Partnerships, with respect to the Common Stock directly owned by each of the Partnerships.

 

The filing of this statement should not be construed as an admission that any Reporting Person (other than Credit Alternatives) is, for the purpose of Section 13 of the Act, the beneficial owner of the Common Stock reported herein.

      
 

(b)

    Address of the Principal Office or, if none, residence      
    

With respect to BMCM and GP Holdings: 280 Park Avenue, 5th Floor East, New York, New York 10017

 

With respect to Credit Alternatives and Credit Alternatives GP: c/o Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands

      
 

(c)

    Citizenship      
    

With respect to BMCM and GP Holdings: Delaware, USA

 

With respect to Credit Alternatives and Credit Alternatives GP: Cayman Islands

      
 

(d)

    Title of Class of Securities      
     Common Stock      
 

(e)

    CUSIP Number      
     811054402      
Item 3.    If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:   
  (a)    ¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
  (b)    ¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
  (c)    ¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
  (d)    ¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
  (e)    x    An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
  (f)    ¨    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
  (g)    ¨    A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
  (h)    ¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (i)    ¨    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
  (j)    ¨    Group, in accordance with §240.13d-1(b)(1)(ii)(K).

CUSIP No. 811054402    13G    Page 7 of 8 Pages

 

Item 4.     Ownership.      
  

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

The information required by Items 4(a) – (c) is set forth in Rows 5-11 of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.

 

BMCM expressly declares that this filing shall not be construed as an admission that it is, for the purposes of sections 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by this filing.

 

The Company’s Form 10-Q filed on November 9, 2012, indicates that the total number of outstanding shares of Common Stock as of October 31, 2012 was 43,024,744. The percentages used herein and in the rest of the Schedule 13G are based upon such number of shares of Common Stock outstanding.

 

Instruction. For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

      
Item 5.     Ownership of Five Percent or Less of a Class.   
  

Not Applicable

 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following    ¨.

 

Instruction. Dissolution of a group requires a response to this item.

   
Item 6.     Ownership of More than Five Percent on Behalf of Another Person.      
   Not Applicable      
Item 7.    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.
   Not Applicable
Item 8.    Identification and Classification of Members of the Group.      
   Not Applicable      
Item 9.    Notice of Dissolution of Group.      
   Not Applicable      
Item 10.     Certification.      
  

The following certification shall be included if the statement is filed pursuant to §240.13d-1(b):

 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

      

CUSIP No. 811054402    13G    Page 8 of 8 Pages

 

SIGNATURES

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

DATED: February 13, 2013

 

BLUEMOUNTAIN CAPITAL MANAGEMENT, LLC
By:  

/s/ PAUL FRIEDMAN

Paul Friedman, Chief Compliance Officer
BLUEMOUNTAIN GP HOLDINGS, LLC
By:  

/s/ PAUL FRIEDMAN

Paul Friedman, Chief Compliance Officer
BLUE MOUNTAIN CREDIT ALTERNATIVES MASTER FUND L.P.
BY: Blue Mountain CA Master Fund GP, LTD.
By:  

/s/ ANDREW FELDSTEIN

Andrew Feldstein, Director
BLUE MOUNTAIN CA MASTER FUND GP, LTD.
By:  

/s/ ANDREW FELDSTEIN

Andrew Feldstein, Director