E.W. Scripps Co. saw cash flow increase 10% during the first quarter, largely on the strength of its cable networks, Home & Garden TV and the Food Network.
Companywide revenue increased 9% during the three months ended March 31, to $410.9 million, with the company's core newspaper and broadcast station divisions growing only slightly, 2% to 4%. The gain was really fueled by the cable networks, whose combined revenues grew 52%. Cash flow totaled $101.1 million, with the networks tripling cash flow, to $15.3 million and the TV stations dropping 4%, to $62.5 million.
The more established network, HGTV, posted a 54% revenue increase, to $51 million, while cash flow almost tripled, to $14.4 million. Food Network's sales jumped 60%, to $22.2 million, while cash flow increased from $495,000, to $3 million.