E.W. Scripps, the parent company of the Knoxville News Sentinel and the Memphis Commercial Appeal, reported third quarter earnings of $12 million v. a loss of $10.7 million for the same period one year ago, beating estimates. Revenues were up 31%, fueled by political advertising. Television revenues were up 41% on a same-station basis.

The newspaper division continued to decline, with revenues off 3.7% as compared to a year ago. The only bright spot was an increase in real estate classified revenues, mostly related to a housing boom in Naples FL.

The company said they are "approaching the beginning of a move to bundled subscriptions for print and digital products" (i.e. paywalls). The company also said they expect continuing declines in newspaper revenues, with "the decline in expenses being slightly greater than the decline in revenue," suggesting more budget cuts.

Shares are trading up 5% at midday after the announcement.

News release...

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R. Neal's picture

Revenues were up 31%, fueled

Revenues were up 31%, fueled by political advertising.

Thanks, Citizens United!

Tamara Shepherd's picture

*

The company said they are "approaching the beginning of a move to bundled subscriptions for print and digital products" (i.e. paywalls).

I think this is great news. It will rid the site of all those "$10 an hour Republican millionaires," as KNS poster LaborGirl calls 'em.

They're the ones monopolizing the conversation over there, even as they repeat to us daily that they've already canceled their subscriptions.

MikeDonila's picture

Actually making everyone go

Actually making everyone go through a legit registration process would get rid of 98 percent of them. Bunch of chicken head cowards.

fischbobber's picture

The challenges of Scripps

Mirror the challenges of the Democrats.

As the world changes, we all struggle to retain our relevance.

bizgrrl's picture

Comparing Scripps to

Comparing Scripps to Democrats? How is that different than comparing Scripps to Republicans or Independents or Greens, etc?

As the world changes, we all struggle to retain our relevance.

fischbobber's picture

Reference

I was referencing Scripps' declining popularity at a time in which one would think their relevance should be on the upswing, much like the Democrats.

(This would be a local and state observation. In retrospect the comparison may have been somewhat oblique, but it was late, I'd worked all day and I still am struggling with aspects of the election.)

I could wax on about the seeming disregard of the general populace for their own interests when it comes to casting their votes, and the need for to examine different business models for both the Dems and Scripps, but I can be long winded and then I might miss the football game.

But that's where I was going. As for the "we all," men in their fifties tend to get reflective upon their lives. It a common thing and a general bond amongst guys. It was a simple effort at being inclusive. For those who have never struggled with their relevance the reference may have seemed insulting, but that was not the intent.

R. Neal's picture

I believe her point was that

I believe her point was that we all, as in everybody, must adapt, which is sort of obvious. Anyway, the topic is the financial performance and sustainability of newspapers, and more specifically Scripps newspapers.

fischbobber's picture

And to that point

Perhaps a bundled package offering a systemwide content package with a user friendly format is the sort of relevant move that could expand Scripps role in the media marketplace.

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