Blog Post

Earnings: E W Scripps' Revs Down 23 Percent; Digital Down 25 Percent

E W Scripps, the newspaper and TV station media company, has reported its Q209 numbers, and it swung to a Q209 profit, but the topline number is deceiving in comparison because of a $525 million impairment charge it took in Q208 last year on its newspaper biz. On revenue side, it earned $194 million, a 23 percent decrease from $251 million in Q208. Division wise, revenue from TV station was $61.1 million, a decrease of 24 percent from Q208. In its newspaper division, papers managed solely by Scripps fell 22 percent to $113 million; ad revenue was down 29 percent to $79.4 million. Also in Q2, it reported a loss of $900K reflecting final costs for shutting down the Rocky Mountain News earlier in Feb.

From its 10-Q: Online revenues were down 25 percent, to $7.3 million, from $9.8 million in the year-ago quarter, and its reason: “attributable to the weakness in print classified advertising, to which most of the online advertising is tied.” Revenue from pure-play online advertisers, who purchase ads only on the company