| Scripps July Revenues up 7 Percent |
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CINCINNATI, Aug. 12 /PRNewswire-FirstCall/ -- The E. W. Scripps Company's (NYSE: SSP) 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. THE E.W. SCRIPPS COMPANY Unaudited Revenue and Statistical Summary Period: July Report date: August 12, 2002 For comparative purposes, this report excludes divested operations and unusual items, includes acquired operations as if they had been purchased January 1, 2001, and includes the Rocky Mountain News as if the Denver JOA had started January 1, 2001.
July**** Year-to-date
2002 2001 % 2002 2001 %
CONSOLIDATED REVENUE
Newspapers $56.9 $58.3 (2.4)% $430.7 $417.0 3.3 %
Scripps Networks 30.3 24.9 21.9 % 229.9 200.7 14.6 %
Broadcast Television 22.2 19.7 12.2 % 163.4 159.9 2.2 %
Licensing and
Other Media 7.8 6.9 12.8 % 52.8 54.0 (2.3)%
TOTAL $117.2 $109.8 6.7 % $876.9 $831.6 5.4 %
NEWSPAPERS ***
Revenue (in millions )
Local $12.7 $13.7 (7.2)% $102.7 $104.1 (1.4)%
Classified 16.9 18.2 (6.8)% 126.8 131.7 (3.8)%
National 2.7 2.8 (3.6)% 18.7 19.2 (2.3)%
Preprints and other 7.2 6.8 5.8 % 54.6 50.3 8.6 %
Newspaper advertising 39.5 41.4 (4.6)% 302.8 305.3 (0.8)%
Circulation 10.9 11.8 (7.7)% 80.7 81.2 (0.7)%
Other * 6.6 5.1 28.0 % 47.3 30.6 54.7 %
Newspapers $56.9 $58.3 (2.4)% $430.7 $417.0 3.3 %
Ad inches (excluding JOAs)(in thousands)
Local 550 584 (5.8)% 4,333 4,412 (1.8)%
Classified 811 826 (1.8)% 5,960 5,941 0.3 %
National 79 85 (6.9)% 621 606 2.6 %
Full run
ROP 1,440 1,495 (3.7)% 10,914 10,959 (0.4)%
SCRIPPS NETWORKS
Revenue
Advertising $23.3 $19.4 19.9 % $181.8 $163.9 10.9 %
Affiliate fees *** 6.7 5.0 33.5 % 45.2 33.7 33.9 %
Other 0.4 0.4 2.9 3.0 (3.2)%
Scripps Networks $30.3 $24.9 21.9 % $229.9 $200.7 14.6 %
Subscribers **(homes in millions)
HGTV 78.3 71.1 10.1 %
Food Network 75.3 62.0 21.5 %
BROADCAST TELEVISION
Revenue
Local $12.6 $11.6 9.0 % $97.7 $94.1 3.8 %
National 6.7 6.9 (3.4)% 54.4 56.0 (2.9)%
Network compensation 0.6 0.8 (19.3)% 4.5 6.1 (26.0)%
Political 1.9 0.1 2.8 0.4
Other 0.4 0.4 (13.4)% 3.9 3.3 19.3 %
Broadcast Television $22.2 $19.7 12.2 % $163.4 $159.9 2.2 %
** According to Nielsen Homevideo Index of homes that receive cable networks. *** For comparative purposes, certain 2001 amounts have been reclassified to conform to 2002 classifications. **** July 2002 had 4 Sundays, versus 5 in 2001.
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SOURCE The E.W. Scripps Company -0- 08/12/2002 /CONTACT: Tim Stautberg of The E.W. Scripps Company, +1-513-977-3826, or stautberg@scripps.com/ |