Scripps November revenues up 18 percent

Fri, December 13, 2002 by Tim Stautberg

CINCINNATI – The E. W. Scripps Company’s consolidated revenues for November were $170 million, up 18 percent on a pro forma basis from the same period a year ago.The company completed its acquisition of Shop At Home Network on Oct. 31. To assist with year-to-year comparisons, the company is reporting consolidated revenues as if the television-retailing business had been acquired on Jan. 1, 2001.Revenues from the company’s Scripps Networks operating division were $41.1 million, up 42 percent from November 2001. Broken down by category, Scripps Networks advertising revenues were $34.3 million, up 43 percent, and affiliate fee revenues were $6.3 million, up 39 percent.Scripps Networks includes Home & Garden Television, the Food Network, the DIY – Do It Yourself Network and Fine Living.Distribution of HGTV and Food continued to grow during November. HGTV now reaches 80.3 million homes, up 4.8 million, or 6.4 percent from the same month a year ago. Food Network can now be seen in 77.3 million homes, up 8 million, or 12 percent from October 2001. DIY can be seen in 12 million households and Fine Living has about 13 million subscribers. At the company’s broadcast television stations, political advertising of $4.8 million drove November revenues, which were $30.5 million, up 16 percent from the same month last year. At the company’s newspapers, total November revenues were $71 million, up 6.5 percent from the previous year. Newspaper advertising revenues were $49.8 million, up 5.3 percent for the month, year-over-year. Broken down by category, newspaper classified advertising was up 11 percent, local was down 4.9 percent, national increased 10 percent, and preprint and other was up 15 percent. There were six fewer days between Thanksgiving and the end of November this year compared to 2001, which had a negative effect on local newspaper advertising revenues.Other newspaper revenues were $9.9 million, an increase of $2 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 newest business division, Shop At Home Network, November revenues were up 26 percent on a pro forma basis to $19.5 million compared to the same period a year ago. Shop At Home Network was available in an average 45.1 million full-time equivalent households in November, up 17 percent from the same period a year ago.The E.W. Scripps Company is a diverse media concern with interests in newspaper publishing, broadcast television, national television networks, television retailing and interactive media. Scripps operates 21 daily newspapers, 10 broadcast TV stations and four cable television networks. The company’s national television network brands include Home & Garden Television, Food Network, DIY -- Do It Yourself Network, Fine Living and Shop At Home. Scripps Networks programming can be seen in 25 countries. Scripps 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.

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