November revenues increase 7.5 percent
Wed, December 10, 1997 by Rich Boehne
CINCINNATI, Ohio - The E.W. Scripps Company’s consolidated revenues increased 7.5 percent in November to $128 million, compared to $ 119 million in November 1996.The company attributed the increase to continued strong advertising revenues in its newspaper and broadcast television segments.Newspaper advertising moved up 11.9 percent to $60.4 million compared to $54 million for the same month a year ago. Classified advertising for November was up 18.7 percent to $21.6 million compared to $18.2 million in 1996. Newspaper revenues overall were up 12.4 percent to $80.6 million from $71.7 million for November 1996.The broadcast television segment posted impressive results compared to the year earlier period when national and local elections drove up spending on political advertising. Broadcast revenues were up 4.3 percent to $33.1 million compared to $31.7 million in November 1996, even though political advertising dropped to $300,000 for the month compared to $3.4 million during last year’s presidential election year.Entertainment division revenues declined 8.3 percent to $14.6 million compared to $15.9 million for the month a year ago. The decline was anticipated due to uneven booking of network programming by Scripps Howard Productions compared to November 1996. Scripps announced Dec. 5 that it is seeking a buyer for the fiction programming arm of Scripps Howard Productions as part of a reorganization of its television production operations. The company has said it plans to focus on non-fiction programming.Home & Garden Television revenues more than doubled in the year-to-year comparison as the number of subscribers increased 65.3 percent to 32.4 million compared to 19.6 million a year earlier. Food Network subscribers moved up 56.4 percent to 28 million from 17.9 million in November 1996.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.