Scripps' Lifestyle Media Strong: Cable Nets Up 7%


Scripps Networks Interactive said its slumping advertising revenues improved in the fourth quarter, as well as reversing into a net income situation during the period. But investors weren't impressed.

In the quarter, Scripps earned $94.4 million, compared with a loss of $153.5 million. Revenues rose by 6% to $429.7 million from $405.3 million -- a bit higher than expected.

The company said the Travel Channel, in which it bought a controlling interest from cable operator Cox Communications in December, contributed about $11 million to revenue. Scripps -- the owner of the Food Network and HGTV -- saw revenue climb 23% and 13%, respectively.

Still, Scripps networks have witnessed some sharp ratings declines of late.

Overall, the stock market didn't seem all that happy. Scripps was down 5% to $48.10 in mid-day trading.



Scripps said its advertising revenue rose 6.8% to $281 million at its cable channels and Web sites in its Lifestyle Media group. Better results occurred from the group's affiliate fees, from cable, satellite TV and phone companies, climbing 16% to $81.3 million.

Total revenue at Lifestyle Media was up 12% to $380 million, which included The Travel Channel. But net income for this division was down to $163 million from $175 million in the prior year.

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