Scripps Provides Revenue Guidance for 2012
Jan 17, 2012, 04:01 ET
CINCINNATI, Jan. 17, 2012 /PRNewswire/ -- The E.W. Scripps Company (NYSE: SSP) today provided a broad outlook for the revenue performance of its television stations and newspapers in 2012.
For the full year 2012, total television revenues should increase by more than 50 percent. That includes more than $100 million of revenue for the stations that were acquired from McGraw-Hill Broadcasting Company on December 30, 2011.
Excluding the newly acquired stations, television revenue should increase more than 15 percent, fueled by low-to-mid-single-digit growth of core revenue, and political revenue that should exceed the $42 million figure reported in the previous presidential election cycle.
Newspaper revenue should be down slightly to approximately $400 million.
The commentary was part of prepared remarks at the Noble Financial Equity Conference. A replay can be heard by visiting the investor relations page at www.scripps.com.
More-detailed guidance for the first quarter of 2012 will be discussed when the company reports its year-end earnings in February.
Scripps (www.scripps.com) is a diverse media enterprise with interests in television stations and newspapers that are passionate about the company's long-time vision statement: "Give light and the people will find their own way."
This press release contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The company's written policy on forward-looking statements can be found in the 2010 SEC Form 10K. We undertake no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made.
SOURCE The E.W. Scripps Company
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