NEW YORK, June 24 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Scripps Networks Interactive Inc. (NYSE: SNIwi) will replace E.W.
Scripps Co. (NYSE: SSP) in the S&P 500, and the new E.W. Scripps Co. (NYSE:
SSPwi) will replace BankUnited Financial Corp. (Nasdaq: BKUNA) in the S&P
SmallCap 600 after the close of trading on Monday, June 30. E.W. Scripps is
spinning off Scripps Networks Interactive in a transaction expected to go ex-
dividend on Tuesday, July 1. As of today's close of trading, BankUnited
Financial had a market cap of approximately $47 million, ranking 600th in the
index.
-- Lender Processing Services Inc. (NYSE: LPSwi) will replace Radian Group
Inc. (NYSE: RDN) in the S&P MidCap 400 after the close of trading on
Wednesday, July 2. Lender Processing Services is being spun off by S&P 500
constituent Fidelity National Information Services Inc. (NYSE: FIS), which
will remain in the S&P 500, in a transaction expected to go ex-dividend on
Thursday, July 3. As of today's close of trading, Radian Group had a market
cap of approximately $165 million, ranking 400th in the index.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: www.standardandpoors.com.
Scripps Networks Interactive will own cable TV brands HGTV, Food Network,
DIY Network, Fine Living and Great American Country, and online search and
comparison shopping services Shopzilla and uSwitch. Headquartered in
Cincinnati, OH, the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Broadcasting & Cable TV Sub-Industry index.
The new E.W. Scripps will own daily and community newspapers in 15 markets
and 10 broadcast TV stations. Headquartered in Cincinnati, OH, the company
will be added to the S&P SmallCap 600 GICS Publishing Sub-Industry index,
changing from the S&P 500 Broadcasting & Cable TV Sub-Industry index, of which
it is currently a constituent.
Lender Processing Services will provide integrated technology and services
to the mortgage industry.
