• July 12, 2002

E. W. Scripps posted a solid second quarter yesterday, led by growth in its cable television operation. Improving local newspaper and broadcast television advertising also contributed to improved consolidated operating results. Scripps quarterly operating results also were positively affected by reduced expenses and improved advertising revenues in Denver, where the company shares 50 percent of the combined profits of the Denver Newspaper Agency, which publishes the Rocky Mountain News and The Denver Post. The company's cable division, Scripps Networks, posted a 19 percent increase in revenues, to $111 million, for the quarter and a 24 percent increase in operating cash flow, which reached $33.0 million. Scripps Networks includes the company's portfolio of national television networks -- Home & Garden Television, the Food Network, DIY -- Do It Yourself Network and Fine Living. The company's second quarter consolidated revenues were $400 million, up from $372 million during the second quarter of 2001. Based on advance advertising sales, the company currently anticipates third quarter ad revenue will be up about 20 percent year-over-year.