Scripps Cable Nets Boost Profit

Apr 24, 2008  •  Post A Comment

E.W. Scripps posted a 23% jump in profit in the first quarter of 2008, the New York Times reports. The company, which owns cable networks including DIY and HGTV posted net income of $84.1 million, or 51 cents a share, for the January-March period, far exceeding analysts’ predictions of 43 cents a share. The jump was attributed to higher ratings and ad sales at its Scripps Networks, which include HGTV, Food Network, DIY Network, Fine Living Network and Great American Country, which accounted for almost fifty percent of its consolidated revenue.

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