Scripps May revenues increase 8.2 percent
Fri, June 09, 2000 by Tim Stautberg
CINCINNATI, Ohio - The E.W. Scripps Company’s consolidated revenues increased 8.2 percent in May to $149 million, compared to $138 million in May 1999.May 2000 had four Saturdays and Sundays versus five in 1999. For April and May combined, consolidated revenues were up 12 percent.In May, newspaper advertising revenues were down 1.3 percent to $62.3 million. Classified advertising revenues were down 2.7 percent to $25.9 million. Local advertising revenues decreased 2.7 percent to $23.1 million. Total newspaper revenues were down 2.6 percent to $79.7 million. Total newspaper revenues were up 4.7 percent for April and May combined.Category television revenues increased 44 percent to $29.7 million. The number of subscribers at Home & Garden Television reached 62.2 million in May, up500,000 from the previous month, according to the Nielsen Homevideo Index. Home & Garden Television now reaches more than 75 percent of all domestic cable households. The number of Food Network subscribers reached 48.2 million in May, up 1 million from the previous month, according to the Nielsen index.Broadcast television revenues increased 12 percent to $31.8 million. Based on advance advertising sales for June, second quarter broadcast television revenues are expected to be up about 5 percent compared to the same period in 1999. The E.W. Scripps Company operates 20 daily newspapers; 10 broadcast television stations; three TV networks, Home & Garden Television, Food Network and Do It Yourself; and a TV programmer, Scripps Productions. The company also operates United Media, a worldwide syndicator and licensor of news features and comics, and the Scripps Howard News Service. Scripps operates 31 revenue-producing Web sites, including hgtv.com, foodtv.com, diynet.com and comics.com.This press release contains certain forward-looking statements related to the company’s broadcast television business that are based on management’s current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions, that could cause actual results to differ materially from the expectations expressed in forward looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.