E.W. Scripps Reports Big Q4 Political TV Ad Gains

E.W. Scripps local TV station group witnessed big TV revenue gains in the fourth quarter -- with political advertising and retransmission fee revenues the main drivers.

Revenue from the TV group was 37% higher to $233 million. Political advertising revenue was $56.2 million, up from $2.1 million in the fourth quarter of 2015. Retransmission fees were up 70% to $60.5 million.

But core advertising was down 12% due to pre-emptions from political advertising. Local advertising sank 11.3% to $80 million, and national spot advertising sank 14.5%. To $32.8 million.

Fourth-quarter net income from its TV stations more than doubled -- to $96 million versus $41.4 million.

For the year as a whole, Scripps political advertising was $100.8 million for the year, with 2016 retransmission revenue 62% higher to $221 million.



Digital media advertising revenue grew 42% to $18.8 million, while radio was down 18.8 million, down $19 million. Revenue increased 62 percent to $221 million.

Total revenue -- from TV, digital, and radio -- rose 33.1% to $273 million. Net income from continuing operations was $38.3 million reversing a net loss of $21.1 million in the fourth quarter 2015.

Mid-day Friday stock market trading of E.W. Scripps was up slightly, 1% to $21.31.

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