October revenues decline 6.6 percent

Fri, November 14, 1997 by Rich Boehne

CINCINNATI, Ohio – The E. W. Scripps Company’s consolidated revenues declined 6.6 percent in October to $119 million, compared to $127 million in October 1996. The decrease was anticipated due to the lack of political advertising in the broadcast division and uneven booking of revenue at the company’s programming unit, Scripps Howard Productions.Revenues from the television station group declined 7.1 percent to $32 million. Although broadcast advertising was strong for the month, revenues could not overcome the drop in political advertising from election year levels in October 1996. Political advertising revenues were $1.2 million compared to $9 million during the month a year ago. Entertainment division revenues were down 42 percent to $15 million, due to the lack of programming delivered to networks by Scripps Howard Productions compared to October 1996. Home and Garden Television revenues more than doubled year-to-year, with the number of subscribers climbing 74 percent to 32 million compared to 18 million a year ago. Subscribers to Food Television Network, which the company acquired on Oct. 15, climbed 56 percent to 27 million compared to the same month a year earlier.Newspaper advertising revenue increased 5.4 percent to $52 million and total newspaper revenues moved up 7 percent to $72 million. The E. W. Scripps Company operates 20 daily newspapers; nine network-affiliated television stations; two TV networks, Home & Garden Television and the Food Network; two TV programmers, Cinetel Productions and Scripps Howard Productions; and United Media, a worldwide syndicator and licensor of news features and comics.