Scripps Same-Station Revenue Up 39% in QuarterHomegrown access shows in place of 'Wheel' and 'Jeopardy' "had a positive impact" 2/26/2013 09:58:38 AM Eastern
Scripps reported fourth-quarter television station revenue
of $152 million, well up from $84.7 million in the fourth quarter of 2011. The
quarter included revenue from television stations in Indianapolis, Denver, San
Diego and Bakersfield that were acquired Dec. 30, 2011. On a same-station
basis, television revenue increased 39% in the quarter. Local ad revenue was up
11% while national grew 12%. Political advertising tallied $56.9 million.
Scripps' digital revenues in the fourth quarter increased
59% to $4.4 million, and grew 29% on a same-station basis.
Excluding the newly acquired stations from the 2012
performance, consolidated revenues increased 14% year over year to $225
"Our repositioning of Scripps really paid off in the
fourth quarter, and in all of 2012," said Rich Boehne, Scripps president
and CEO. "Investing to expand our television portfolio and to improve our
local news programming resulted in an attractive platform for political
advertising and the most effective voice for election-year journalism ever
staged by Scripps. We also took advantage of the election year to build out our
digital product portfolio across both TV and newspaper markets, expanding
audiences and attracting new revenue sources."
Consolidated revenues rose 32% to $260 million in the fourth
"The new stations in Denver, Indianapolis, San Diego
and Bakersfield finished their first year as Scripps stations with strong
revenue growth," said Boehne. "And our decision to replace
underperforming syndicated shows with internally produced programming had a
positive impact in the first year. Our two newest shows -- Let's Ask America and The
List -- are performing well from both ratings and financial perspectives."
Total revenue from Scripps newspapers in the fourth quarter
was $105 million, down 4.6% from the fourth quarter of 2011.
Scripps forecasts television revenues to be flat
in the first quarter, compared to 2012's first quarter.