By: (AP) The E. W. Scripps Co. joined other media companies Tuesday in predicting lower earnings, partly because of last week's terrorist attacks.
Based on July and August operating results, the company had expected third- quarter earnings to fall near the low end of its prediction of 38 to 46 cents per share, compared with 46 cents per share in 2000.
Because of the economic uncertainty following last week's attacks, and a resulting slowing of advertising, Scripps now expects third quarter earnings per share to fall below the low-end of its prediction of 38 to 46 cents per share.
Full-year results also are expected to fall short. The company had projected that full-year earnings would be between $2.05 and $2.25 per share, compared with $2.20 in 2000.
Scripps is a diverse media company with interests in newspaper publishing, broadcast television, national television networks, and interactive media. It operates 21 daily newspapers, 10 broadcast TV stations, and three cable television networks -- Home & Garden Television, Food Network, Do It Yourself -- and Fine Living, due to launch in early 2002.
Shares of Scripps fell $1.29 to close at $60.10 on the New York Stock Exchange.
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