Scripps Newspaper Rev Down 4.6% In Q4
E.W. Scripps on Tuesday reported that consolidated revenue was up 32% to $260 million during the fourth quarter of 2012, buoyed primarily by political advertising and the acquisition of four TV stations. Excluding the new stations, revenue was up 14% compared with the same period a year ago.
The company’s newspaper division, however, saw its revenue drop 4.6% during the quarter. Circulation revenue was down 3.4% in the quarter, while print ad revenue fell 5.8%.
Digital revenue was one of the few bright spots for the division, edging up to $6.6 million. Pureplay digital revenue was up 12.8% for the quarter.
Fourth-quarter segment profit in the newspaper division increased 4.6% to $11.6 million from $11.1 million in the fourth quarter of 2011, the company said.
The newspaper division’s weak performance was offset by a strong showing on the TV side.
Reported revenue from the company's TV stations hit $152 million in the quarter, up from $84.7 million in the fourth quarter of 2011. On a same-station basis, television revenue increased 39% in the quarter to $118 million.
Much of that was from an increase in revenue from 2012’s hotly contested political races. Political revenue hit $56.9 million, compared to $3.5 million in the 2011 quarter.