Scripps Posts Loss Despite Cable Gains

Feb 5, 2009  •  Post A Comment

Scripps Networks Interactive’s cable networks registered higher revenues and a small increase in profit in the fourth quarter, as the company reported a net loss of $154 million, TelevisionWeek reports. The loss was caused by writedowns related to asset impairment charges. Without the charges, net income was up 10%, the company says. Bucking the recession, operating revenue was up 4.2% at HGTV and increased 5.1% at Food Network, while the company’s smaller networks posted double-digit gains. The company’s earnings announcement can be read here.
—Jon Lafayette

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