Blog Post

Scripps To Shutter Shop At Home Broadcast, Online

Scripps’ Shop At Home television and e-commerce subsidiary has been hanging in the balance for months; the board authorized management to seek a sale during the first quarter. That stops now with the decision by Scripps to shut down the struggling operation effective June 30; TV broadcasts and ShopAtHome.com will cease June 22. It has 660 full-time employees.
Scripps spent $285 million in 2002-2004 to acquire the Shop At Home network and affiliated stations. It wasn’t profitable then and has since lost about $84 million. The losses aren’t over — Scripps will record an after-tax loss of up to $60 million including operating expenses, closing costs and a partial write-off. Scripps will sell the five television, offering alternative programming until then. Release
Scripps has fared much better with Shopzilla.com, which it has been integrating across its network sites.
WSJ
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