Scripps reports November revenues
Wed, December 12, 2001 by Tim Stautberg
CINCINNATI – The E. W. Scripps Company’s consolidated revenues for November were $131 million, down 4.7 percent on a pro forma basis from the same month a year ago. Revenues for Scripps Networks were up 10 percent to $31 million. Scripps Networks includes national television network brands Home & Garden Television, Food Network, Do It Yourself (DIY) and Fine Living, which is scheduled to debut in March 2002.Subscriber growth for HGTV and Food has continued at a healthy pace. HGTV now reaches 75.5 million homes, up 8.7 million, or 13 percent, from the same month a year ago and up 8.4 million subscribers in 2001 through November. Food Network can now be seen in 69.3 million homes, up 15.2 million, or 28 percent, from November 2000, and up 14.9 million year-to-date. Pro forma newspaper revenues for the month were $66.7 million, unchanged from the same month a year ago. Newspaper advertising revenues were down 5.9 percent. Classified advertising revenue for November was down 9.9 percent primarily because of weakness in the help wanted category. Local advertising revenue declined 4.9 percent. Preprint and other advertising revenue decreased 2.6 percent and national advertising was down 2.8 percent. Other newspaper revenues were up 51 percent to $7.9 million, primarily due to improvement in Denver.At the company’s broadcast television stations, November revenues declined 23 percent to $26.4 million. The company attributes the decline to a general weakness in broadcast television advertising and the relative absence of political advertising for the month compared to the same period a year ago. The company’s television stations generated $600,000 in political advertising in November compared to $7 million a year ago. The E.W. Scripps Company is a diverse media concern with interests in newspaper publishing, broadcast television, national television networks and interactive media. Scripps operates 21 daily newspapers, 10 broadcast TV stations and three cable television networks, with plans to launch a fourth.Scripps national television network brands include Home & Garden Television, Food Network, Do It Yourself and Fine Living, due to launch in March 2002.The company also operates Scripps Howard News Service, United Media, the worldwide licensing and syndication home of PEANUTS and DILBERT, and 31 Web sites, including hgtv.com, foodtv.com, diynet.com and comics.com.