Scripps Networks Interactive posted a 49% jump in second-quarter profit, driven by strong fee revenue from its television affiliates. The company earned $79.5 million, compared with $53.3
million a year earlier. Scripps says expenses in the recent quarter fell 1.1 % year over year.
Revenue for the Lifestyle Media segment, which includes HGTV and Food Network, was $351
million, a slight increase from $349 million a year ago. Total quarterly revenue decreased 3.7% to $391 million. Analysts had forecast revenue of $362 million.
Revenue from affiliate
fees increased 15% on improved rates for HGTV and expanding distribution of the company's television networks. The growth was offset by a 3.8% decrease in advertising revenue, which fell to $261
million.
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