The E.W. Scripps Company, the media conglomerate that is splitting in two in July, has named two company veterans to the chief financial officer spots. Timothy E. Stautberg will become CFO and a senior vice president of E.W. Scripps when the separation is complete. He will succeed Joseph G. NeCastro, who will become CFO and executive vice president of the second company, Scripps Networks Interactive.
E.W. Scripps will continue to operate the company’s local newspapers, broadcast television stations, and licensing and syndication businesses — that includes comic strips and other creative properties, such as Peanuts, Marmaduke and Dilbert. The newly carved out company will include the businesses that currently comprise the Scripps Networks and Scripps Interactive Media divisions. Scripps Networks includes five national lifestyle television networks and related Internet enterprises. The Scripps Interactive Media division includes the company’s Shopzilla and uSwitch online comparison shopping subsidiaries.
For nearly 10 years, Stautberg has served as Scripps’s primary liaison with institutional investors and financial analysts. In his new role, Stautberg will have oversight responsibility for the company’s accounting, treasury, tax, risk management, investor relations and information technology functions. He also will take a lead role in strategic planning for the media company.
“[Stautberg] has a battle-tested understanding of what it takes to change and evolve businesses while, at the same time, continue to succeed economically,” said Rich Boehne, who will become president and chief executive officer of Scripps after the split. Stautberg was vice president of communications and investor relations since 1999.
NeCastro joined Scripps in May 2002, as senior vice president and CFO. During his career, he has held financial management positions at several top media and communications companies, including Penton Media, The Reader’s Digest Association Inc., U.S. News & World Report, and MCI Communications Corp. Immediately prior to joining Scripps, he was with Penton Media Inc. in Cleveland, where he was CFO beginning in 1998.