Saturday, November 3, 2012

Scripps Networks revenues up

Local media mogul Scripps Networks Interactive has posted strong 3rd quarter earnings.  Affiliate fees (what cable & other multichannel video services pay to license the channel) were up 15%, while advertising revenues grew 9.2%. Overall, Scripps revenues were up 15%, reaching $566 million, and net income increased by 20%, to $156.8 million.
  Most of the individual Scripps networks improved their fiscal performance: Food Network was up 10%; Cooking Channel up 30%; HGTV up 9%; DIY up 26%; Travel Channel up 10%; and GAC up 15%.  The Scripps online digital services also saw revenues grow more than 12%, reaching $27.7 million, though still trailing HGTV and Food Network, whose revenues approached $200 million each.
  Meanwhile, rumors of a possible sale of the company to another major media company continue - although Disney as a possible buyer dropped from its (rumored) leading contender position after buying Lucasfilm for $4 billion.

Source -  Scripps Cable Nets Record Strong Q3 ResultsMediaDailyNews

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