Saturday, June 24, 2000

Scripps expected to announce its 4th cable network




By John J. Byczkowski
The Cincinnati Enquirer

        E.W. Scripps Co. will announce “a tremendous business opportunity” Monday — expected to be the company's fourth cable network.

        Company president Kenneth Lowe said in April that Scripps would announce a new network within 90 days. The Wall Street Journal reported Friday that the Cincinnati-based media company would announce the formation of a companion network for its HGTV and Food networks.

        Spokesman Tim Stautberg said Friday “we'll be making an announcement on Monday ... (of) a tremendous business opportunity. Beyond that we're not going to comment.”

        Scripps' cable programming business, which it calls “category television,” is its fastest-growing business, responsible for most of the rise in profits the company has seen this year.

        Category TV revenues in May were up 43 percent from a year earlier, and are up more than half so far this year, to $132.7 million. That makes it nearly as large as Scripps' broadcast television business.

        Scripps' other cable venture is the Do-It-Yourself network. The Scripps networks direct viewers to Web sites with additional content.

       



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