Scripps Widens Q3 Profit On Syndication And Licensing Biz
Posted: 11/7/2008 | By: E&P Staff
Syndication and licensing was a bright spot in E.W. Scripps third-quarter earnings report Friday.
While the newly spun-off company reported a $16.8 million loss on the quarter, the syndication segment increased both revenue and profits -- even as newspapers across the country were launching cut-down redesigns that remove some syndicated material.
Scripps said revenue was up $22.2 million from $21.2 million in the year-ago quarter. Scripps held cash expenses essentially flat year over year, pushing the segment profit to $1.5 million from $1.3 million.
Scripps' United Media unit syndicates comic strips inlcuding "Peanuts," "Dilbert," and "Pearls Before Swine," and such columns as "Miss Manners."
While the newly spun-off company reported a $16.8 million loss on the quarter, the syndication segment increased both revenue and profits -- even as newspapers across the country were launching cut-down redesigns that remove some syndicated material.
Scripps said revenue was up $22.2 million from $21.2 million in the year-ago quarter. Scripps held cash expenses essentially flat year over year, pushing the segment profit to $1.5 million from $1.3 million.
Scripps' United Media unit syndicates comic strips inlcuding "Peanuts," "Dilbert," and "Pearls Before Swine," and such columns as "Miss Manners."