Scripps Nets to See Revenue Gains for Second Half of ’08

While a recent softening of the national TV ad sales market influenced Viacom to lower its second-quarter guidance a week ago, Scripps Networks continues to see a rosy future for itself, telling investors that its cable-networks unit will notch high-single-digit revenue gains in the second half of 2008.

Scripps, which on July 1 will split into two separate companies, said it expects the new standalone Scripps Networks Interactive to chalk up total revenue growth between 8 percent and 10 percent for the full year, a target that is consistent with its previously released guidance.

Once the SNI separation is official, the new company will incorporate the Scripps cable properties (Food Network, HGTV, DIY, Fine Living and Great American Country), as well as the interactive shopping services, Shopzilla and uSwitch.

Analysts backed Scripps