• Broadcasting & Cable, Friday, February 3, 2006 10:48 AM

When it acquired the Shop At Home cable channel three years ago, E.W. Scripps believed it to be a great opportunity to enter the burgeoning home-shopping category, but it has proved to be a bust, and Scripps is considering its options, including a partnership or sale. Scripps says it is taking a $103 million writedown against Shop At Home's assets, about two-thirds of the network's value. According to a report in Broadcasting & Cable, "losses for 2005 were nearly double what Scripps had expected." Part of the problem, reports B&C, is that Shop At Home has a series of very expensive distribution deals with the country's cable systems. Meanwhile, Scripps' other cable TV channels, notably HGTV and the Food Network, are performing extremely well. Both are reporting steep fourth-quarter increases in revenue and operating profit.

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