in exchange for preferred stock paying an 8% annual dividend. It also secured a warrant to purchase 23.1 million of the broadcaster's common shares for $13 each, which it can exercise up until a year after Scripps redeems all of the preferred shares at a 5% premium.
"We'll be very, very focused on value creation through organic cash flow generation and paying down debt," Symson said, giving a target debt-to-equity ratio of 3.5 times.The equities chief at $1.4 trillion Franklin Templeton says stocks are 'priced for perfection' — but investors still shouldn't wait to get in. He tells us 9 ways they can get the market-beating returns.