By: Staff reports
Denver Newspaper Battle Hurts First Quarter
Citing strong growth in category television, E.W. Scripps Co. reported earnings per share
rose 7.5% to 43 cents in the first quarter of 2000. Total company net income rose 5% to
$33.6 million on revenue of $410.8 million, a 9.2% increase.
The Denver newspaper war with MediaNews Group continues to take its toll on the newspaper
division, where operating cash flow declined 4.3% to $62.5 million over the year-ago period
as the Denver Rocky Mountain News continues its efforts to gain market share there. Total
newspaper revenue rose 3.7% to $230 million, with ad revenue up 6.2% to $177 million.
In category television, Home & Garden Television grew revenue 54% to $51 million, while the
Food Network increased revenue 60% to $22.2 million. Broadcast TV revenue rose 1.8% to $76.7
Scripps said its Internet spending was less than expected in the first quarter, despite an
$800,000 increase in spending to develop its newspaper Web sites.
(c) Copyright 2000, Editor & Publisher