Magazine article Editor & Publisher

E.W. Scripps Newspaper Revenue Down 8.3% in Q1

Magazine article Editor & Publisher

E.W. Scripps Newspaper Revenue Down 8.3% in Q1

Article excerpt

Newspaper segment profit at E.W. Scripps slipped to $27.6 million in the first quarter from $29.3 million in 2007, on revenue that dropped 8.3% to $156 million, the Cincinnati-based media company reported Thursday.

Overall, Scripps reported a strong first quarter, pushed by increased revenue and profits at its Scripps Network, the unit of cable and Internet businesses it intends to split off from its newspaper and broadcast television operations.

On a consolidated basis, Scripps said, first-quarter revenue increased 6.8% to $642 million compared to the year-ago period.

Q1 net income overall increased to $84.1 million, or 51 cents a share, compared with $68.5 million, or 42 cents a share, last year.

At Scripps Networks, first-quarter revenue jumped 15% to $311 million. Segment profit also increased 15%, to $147 million.

Scripps Networks accounted for nearly half of the company's consolidated revenue during the first quarter, the company said.

By contrast, advertising revenue at newspapers managed solely by Scripps fell 10% to $120 million.

Like other companies that have reported Q1 results in recent days, Scripps newspapers took big hits in the classified category, falling 19% overall. Scripps did not break out individual categories inside classified. …

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