Q4 Earnings: Scripps Television Station Revenue Drops 24%

By Merrill Knox Comment

scripps-negThe E.W. Scripps Company reported $115 million in revenue from television stations during the fourth quarter of 2013, a decrease of $36.7 million compared to the year-ago quarter. The drop was attributed to a decline in political ad revenue in the non-election year.

For the quarter, Scripps reported a 15% increase in local advertising revenue and a 22% increase in national advertising revenue. Retransmission fees were also up, growing 42% compared to the year-ago quarter.

“Our growing television operations finished 2013 strong, rebuilding their core local and national advertising categories in the off year for political spending and delivering strong growth in retransmission revenue,” Scripps chairman, president and CEO Rich Boehne said in a statement. “We expect our core business to grow again in 2014, and with the expected strength in political advertising in the second half, television is set up for a good year.”