Scripps Revenue Up For Second Quarter

Q2 Results

THE E.W. SCRIPPS CO. second quarter overall revenue rose 31% to $283 million, including $47 million from the KATZ television diginets acquired in fourth quarter 2017, but not including radio, which was moved to discontinued operations as the stations are being sold off (with a $5.9 million charge to adjust the carrying value of the stations in light of the sale prices of the sale of stations in TULSA and MILWAUKEE). Income from continuing operations was $8.7 million (10 cents/share).

Local media revenue increased 5.9% to $213 million; national media was up 63%, discounting the impact of the addition of the KATZ networks. SCRIPPS remains in the audio business with its podcast companies, MIDROLL MEDIA and STITCHER, revenues for which are not broken out in the earnings release.

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