Scripps names NeCastro CFO
Mon, April 15, 2002 by Tim Stautberg
CINCINNATI – Joseph G. NeCastro, who has been a financial manager in the media and communications industry for 20 years, has been named senior vice president and chief financial officer for The E. W. Scripps Company, effective May 3.NeCastro, 45, comes to Scripps from Penton Media Inc. in Cleveland, where he has been chief financial officer since 1998. During his career, he has held financial management positions at several top media and communications companies, including The Reader’s Digest Association Inc., U.S. News & World Report and MCI Communications Corp. NeCastro succeeds Daniel J. Castellini, who retired March 31 after 31 years with Scripps. “In our search for a CFO, we were looking for someone in the media and communications industry with an impeccable reputation as a financial manager,” said Kenneth W. Lowe, president and chief executive officer. “Joe NeCastro meets that criteria and more. He adds depth to our senior management team and will play an important role as we work to fulfill our strategic mission to build the value of the company for all Scripps stakeholders.”NeCastro joined Penton in June 1998, two months before the company’s spin-off from Pittway Corporation. During his tenure, he was instrumental in the execution of Penton’s spin-off and initial stock offering, as well as more than 20 acquisitions. He led eight financing transactions to support Penton’s expansion efforts. Penton is a leading trade magazine publisher with more than 60 titles, and a leading producer of trade shows and conferences around the world. Before joining Penton, NeCastro worked five years for Reader’s Digest, starting in 1993 as director of finance and operations for the company’s magazine group. When he left Reader’s Digest in 1998, he was vice president of finance for Reader’s Digest USA, serving as the chief financial officer for the company’s $1.1 billion U.S. operating unit. He also served as director of financial planning and analysis and vice president/corporate controller while at Reader’s Digest.NeCastro joined Reader’s Digest after working at U.S. News & World Report for six years, first as director of finance (1987-90) and then as vice president and treasurer (1990-93). While at MCI Communications he served as manager of financial analysis and budgets (1983-84) and as senior manager, business planning and development (1985-87). NeCastro, a certified public accountant, has a master’s degree in business administration from Harvard Business School and a bachelor’s degree in accounting from Mercyhurst College in Erie, Pa.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 four cable television networks.Scripps national television network brands include Home & Garden Television, Food Network, DIY -- Do It Yourself Network and Fine Living. Scripps Networks programming can be seen in 15 countries.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, fineliving.com and comics.com.