• by Wayne Friedman , February 1, 2008

E.W. Scripps' television unit took it on the chin in the fourth quarter--all due to lower comparative political advertising numbers. Financial results at Scripps' newspapers were also down.

Preliminary fourth-quarter TV station revenue dropped over 18% to $91.5 million. But local advertising help soften the blow--up 14% to $56.8 million. National spot advertising dollars slipped 1.6% to $28.4 million.

Far better news came from Scripps Networks, its cable channels division. Scripps Networks rose 14% to $255 million. Affiliate fee revenue was $58.3 million--up 21%. Total advertising and affiliate revenue from Scripps' big cable network, HGTV, grew 15% to $150 million. HGTV is now up to 96 million U.S. subscribers.

Food Network revenue was also higher, climbing 10% to $135 million. Scripps' smaller niche networks also showed good results. Revenue at the 47-million-subscriber DIY Network was $14.8 million, up 28%; Revenue at Fine Living climbed 25% higher to $11.6 million. Fine Living is now at 50 million households.

Net income for all Scripps cable networks was at $175 million, 21% more than a year ago. Other good news: Online advertising revenue at Scripps Networks grew 22% to $21.6 million.

Newspapers continue to be dragged down on financial results--down almost 10% in revenue to $165 million. Advertising revenue sank 12% to $131 million. National ads fell 10%, local ads 15%.

Overall, sagging newspapers and TV station business left the company with 8% less net income for the quarter, to $123 million. Quarterly revenues were virtually flat at $679 million versus $683 million.

Also, E.W. Scripps saw revenues at its interactive media division fall 7.8% in the quarter and 5.4% for the year overall, to about $256 million.