Scripps Venture II will invest $100M

Posted Saturday, October 2, 1999 12:00 am

By: Editorial Staff Not content with being just an old-media player, the E.W. Scripps Co. of Cincinnati announced Sept. 28 it has created a second venture fund with $100 million for investing in Internet companies.
Scripps Ventures II, like the company's first fund, will concentrate on early-stage Internet and e-commerce companies. The fund will finance entrepreneurs in hopes of participating in long-term growth opportunities. Scripps Ventures, created in 1996, invested $50 million in 19 companies, including Centra Software, Garden.com, HomePortfolio.com, and iSyndicate.
Douglas R. Stern, president and ceo of Scripps Ventures, said the funds are "distinguished by a hands-on, down-to-earth approach."
The fund prefers the lead investor role, investing from $1 million to $5 million in first- or second-round financing. Compatibility of the start-ups with the core businesses of the Scripps Co. is considered.
The Scripps Co. has 19 daily newspapers, nine network-affiliated tv stations, and two tv networks. Among a host of other media holdings, it operates 31 Web sites.

(Editor & Publisher WebSite:http:www.mediainfo.com) [Caption]
(copyright: Editor & Publisher October 2, 1999) [Caption]

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Scripps Venture II will invest $100M

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