Benchmark analyst Daniel Kurnos views E.W. Scripps' agreement to purchase digital audio infrastructure and measurement company Triton as a "savvy SaaS acquisition," noting that the price paid falls at the low end of the range for SaaS software vendors in terms of both revenue and EBITDA multiples. He sees the potential for Triton to "vastly exceed its purchase price" and noted that Scripps management made it clear that the acquisition did not bar them from aggressively participating in the TV M&A landscape, Kurnos tells investors. He maintains a Buy rating and $20 price target on E.W. Scripps shares.