Scripps reports August revenues
Fri, September 12, 2003 by Tim Stautberg
CINCINNATI - The E. W. Scripps Company's consolidated revenues for August increased 8.8 percent year-over-year to $149 million. The company is reporting its August revenue comparisons as if it had owned the Shop At Home Network since January 2002. Excluding Shop At Home, consolidated August revenues were up 9.4 percent, year-over-year.Revenues from the company's fastest growing division, Scripps Networks, were up 22 percent to $39.9 million. Advertising revenues during the month at Scripps Networks were up 25 percent and affiliate fee revenues increased 9.2 percent. Scripps Networks includes the company's portfolio of national cable and satellite television networks - Home & Garden Television, Food Network, Fine Living and DIY -- Do It Yourself Network.HGTV was available in about 82 million television households during August and Food Network reached about 81 million households. DIY can be seen in about 22 million households and Fine Living reaches about 19 million homes.August revenues at the company's newspapers were up 7.0 percent year-over-year to $59.0 million. Newspaper revenues and the company's share of operating profits from its joint newspaper operations were favorably affected by having 5 Sundays in August 2003 versus 4 Sundays in 2002. Newspaper advertising revenues for the month, broken down by category, were:* Local, about even at $13.4 million.* Classified, up 7.3 percent to $18.8 million.* National, up 22 percent to $3.4 million.* Preprints and other, up 15 percent to $10.9 million.The company's share of profits from its four joint newspaper operations, before editorial costs, was up 18 percent to $6.9 million. At the company's 10 broadcast television stations, revenues for the month were $23.7 million, down 1.1 percent from August 2002. Broadcast television revenues were negatively affected by the relative absence of political advertising this year versus last and the loss of revenue tied to the power blackout in Detroit and Cleveland during the month. Political advertising for August was about $300,000 compared to $1.6 million for the month in 2002. Local television advertising in August was up 6.4 percent to $14.6 million and national advertising was down 1.0 percent to $7.7 million. August revenues at the Shop At Home Network increased 4.0 percent to $18.0 million on an apples-to-apples basis as if the company had owned the network since January 2002. Shop At Home was available in an average 44.7 million full-time equivalent homes during the month, down 1.8 percent from August 2002. The year-over-year decline in distribution is consistent with the companyЎ¦s announced strategy of pruning low-yielding households. Celebrating its 125th anniversary, The E.W. Scripps Company is a diverse media concern with interests in newspaper publishing, broadcast television, national television networks, interactive media and television-retailing. Scripps operates 21 daily newspapers, 10 broadcast TV stations, four cable and satellite television programming services and a home shopping network. All of the companyЎ¦s media businesses provide content and advertising services via the Internet.Scripps Networks brands include Home & Garden Television, Food Network, DIY -- Do It Yourself Network and Fine Living. Home & Garden and Food Network each can be seen in about 80 million U.S. television households. Scripps Networks Web sites include FoodNetwork.com, hgtv.com, DIYnetwork.com and fineliving.com. Scripps Networks programming can be seen in 33 countries. The company's home shopping subsidiary, Shop At Home Network, markets a growing range of consumer goods directly to television viewers and visitors to the Shop At Home Web site, shopathometv.com. Shop At Home reaches about 45 million full-time equivalent U.S. households.Scripps also operates Scripps Howard News Service and United Media, which is the worldwide licensing and syndication home of PEANUTS and DILBERT.