Scripps July revenues up 7 percent
Mon, August 12, 2002 by Tim Stautberg
CINCINNATI – The E. W. Scripps Company’s consolidated revenues for July were $117 million, up 6.7 percent from the same period a year ago. Revenues from the company’s Scripps Networks operating division were $30.3 million, up 22 percent from July 2001. Broken down by category, Scripps Networks advertising revenues were $23.3 million, up 20 percent, and affiliate fee revenues were $6.7 million, up 34 percent. Scripps Networks includes Home & Garden Television, the Food Network, the DIY – Do It Yourself Network and Fine Living.HGTV now reaches 78.3 million homes, up 7.2 million, or 10 percent, from the same month a year ago. Food Network can now be seen in 75.3 million homes, up 13.3 million, or 22 percent, from July 2001. DIY can be seen in nearly 12 million households and Fine Living has about 2 million subscribers. At the company’s newspapers, July revenues were $56.9 million, down 2.4 percent from the previous year. Newspaper advertising revenues were down 4.6 percent for the month, year-over-year.July newspaper results include the effect of having four Sundays in the month compared to five Sundays in July 2001. The company estimates that July advertising revenues would have been equal to last year if there had been five Sundays in the month this year. Broken down by category, classified advertising revenue for July declined 6.8 percent; local advertising revenue was down 7.2 percent; preprints and other advertising revenue was up 5.8 percent and national advertising was down 3.6 percent. Other newspaper revenues were $6.6 million, an increase of $1.5 million over the same month a year ago primarily because of improved operating results in Denver. The company’s share of operating income from the jointly owned Denver Newspaper Agency is reported as other newspaper revenue.At the company’s broadcast television stations, July revenues were $22.2 million, up 12 percent from the same month last year. Broadcast television political advertising revenue was $1.9 million in July compared to $100,000 in July 2001. Excluding political advertising, local television advertising revenue was up 9 percent in July while national television advertising was down 3.4 percent, year over year.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 25 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.