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Second-quarter profit at EW Scripps fell by 48 percent on revenue decline at its newspaper properties and costs related to spinning off its digital businesses; the company warned that third-quarter earnings would fall short of analyst expectations.
Scripps, which owns newspapers, TV stations and cable networks, says net income fell to $51.2 million, while total revenue is 4 percent higher on increased ad sales at HGTV and Food Network, writes The New York Times.
Newspaper revenue slipped 13 percent to $144 million, while profits fell by nearly half to $16.3 million.
Television saw profits decline by 22 percent to $18.3 million on a 5 percent revenue drop to $80.5 million, according to Forbes. An increase in political advertising did not offset the steep decline in local and national advertising revenue.
Online shopping sites saw an increase in revenue of 13 percent; profits more than doubled to $15.1 million.
The Spanish Radio Association says Arbitron still has not addressed its concerns and research questions regarding the PPM and how “Hispanics are recruited and represented, and how the PPM panel is maintained.”
The SRA has been working with Arbitron in…
The Chicago Tribune’s new design will launch on Sept. 29, Tribune Co. chief operating officer Randy Michaels says. No details on the redesign have been released; the paper has already been decreasing its editorial pages to create a more even split…
Teens are not the best demo to target with cell phone advertising, according to a new study from comScore. Though they are cell phone-savvy, most of them - 70 percent - have their phones paid for by parents, which means…
CNN won its second night of coverage of the Democratic National Convention Tuesday. The network averaged 3.41 million viewers in the 8 p.m. to 11 p.m. time slot, despite the fact that Fox drew nearly even for the night.
Fox…
Generation Y is the most self-indulgent, Generation X is the most innovative, and Boomers are the most productive, while the “Silent Generation” and the “Greatest Generation” are the most admired, according to a recent survey by Harris Interactive, writes MarketingCharts.
Conducted for…
To encourage shoppers to buy more back-to-school items, retailers often implement “loss leader” strategies: that is, selling items at a loss or even giving them away in hopes that the reductions will attract shoppers who will then buy other, more…
