In response to warnings Scripps made regarding its 1Q forecast on Tuesday, Merrill Lynch reduced its interactive revenue outlook from 28 percent to 14 percent. Merrill further reduced its 2Q outlook for Scripps’ interactive growth from 17 percent to 5 percent. Ken Lowe, Scripps’ president and CEO, spoke about the company’s business strategy at the Bear, Stearns Media Conference in Palm Beach Tuesday.
On Feb. 28, Scripps cut its first-quarter forecast due to weaker-than-expected newspaper advertising sales and other factors, including costs related to management changes at Shopzilla and softness in its internet search businesses.
Merrill has zeroed in on Scripps’ shopping comparison sites, Shopzilla, uSwitch and UpMyStreet. Scripps has said Shopzilla will face difficult revenue comparisons, while the UK-focused uSwitch is expected to benefit in 2Q and 3Q from a marketing campaigns starting in this quarter. Shopzilla
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