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Biz Briefs

Mar 17, 2003  •  Post A Comment

The E.W. Scripps Co.’s consolidated revenues for February increased 14 percent year over year to $146 million. Scripps is reporting its February revenues as if it had owned the Shop At Home Network since January 2002. Excluding Shop at Home, consolidated February revenues were up 11 percent year to year.
Revenues from Scripps Networks, the company’s fastest-growing division, were up 39 percent to $37.8 million. Scripps Networks advertising revenues for the month at were up 44 percent, and affiliate fee revenues increased 26 percent. Scripps Networks includes the company’s programming services Home & Garden Television, Food Network, Fine Living and DIY-Do It Yourself Network.
DirecTV Earnings Boost
DirecTV, Hughes Electronics Corp.’s satellite TV unit, expects to post $200 million in free cash flow before interest payments in 2003, and it expects to be slightly free cash-flow positive after interest payments, DirecTV Chief Financial Officer Mike Palkovic told Dow Jones after a presentation in Denver Wednesday.
“Hughes is poised to deliver rapidly accelerating earnings before interest, taxes, depreciation and amortization and substantial cash flow growth,” Mr. Palkovic said in a presentation at the Janco Partners 8th Annual Media & Telecommunications Conference.
The expected 2003 improvement for DirecTV-which accounts for about three-fourths of Hughes’ total revenue-follows a $400 million improvement in DirecTV free cash flow between 2001 and 2002.