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Scripps’ cable television and website assets have begun trading as a separate company, following the long-awaited breakup of the media conglomerate, which was announced in October, writes the Wall Street Journal.
Scripps, which now mainly holds daily newspapers in 15 markets, along with 10 television stations, saw trading slip today, while shares of the new Scripps Networks Interactive Inc. jumped 6.23 percent.
The new group owns HGTV, the Food Network and Shopzilla, among other holdings.
Brian Shipman, an analyst with Jefferies & Co., believes that continued fragmentation in the media industry will mean a further market share decline for newspapers, with profit margins continuing to suffer from declining advertising revenue, according to Forbes. Broadcast stations should benefit from political advertising in the second half of the year, but 2009 is likely to be a more difficult year.
All sectors of the media business will suffer from the weakened economy in 2008 and 2009, with a slump in local advertising particularly hurting newspapers and local TV, according to a new projection from Goldman Sachs.
Broadcast nets will experience…
The New York Times is shuttering its International Herald Tribune site; NYTimes.com will soon host the international news normally reserved for its sister website.
The move is not about cost savings, but rather about growth, NYTimes.com general manager Vivian Schiller…
Unilever’s Vaseline set forth on an unusual research project in a small town in Alaska. Setting up a storefront, the company began giving away free bottles of lotion and asking recipients to name the person who had recommended they come…
Meet the Press, the show hosted by Tim Russert for 17 years before his death last June, is beginning to slip in ratings.
Last month, CBS’s Face the Nation pulled ahead of Meet the Press for the first time in two…
Bloggers collectively create nearly one million blog posts each day, and half of bloggers believe blogs will be a primary source of news and entertainment in the next five years, according to Technorati’s 2008 State of the Blogosphere Report, MarketingCharts writes.…
Wal-Mart and Costco reported same-store gains in September, with sales rising 2.4% and 9% respectively. Sales at Target stores open at least a year fell 3%, writes Retailer Daily.
Below, fiscal results from the discount retail giants:
Sales of food and…
