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Scripps may get out of newspaper biz

Discussion in 'Sports and News' started by Killick, Jan 10, 2007.

  1. Killick

    Killick Well-Known Member

    E.W. Scripps Considering Alternative Strategies for Newspapers
    By Jennifer Saba
    Published: January 10, 2007 11:30 AM ET

    NEW YORK -- Wall Street's darling of the newspaper sector, E.W. Scripps, could be exiting the newspaper business.
    Executives at the Cincinnati-based company stated during an investor conference on Tuesday they are evaluating different options regarding its newspaper assets.
    Scripps management said they have been looking at different strategies over the past six months to unlock more value in the stock. "Clearly the most advantageous route in some form or fashion [is to] separate the newspaper business from the rest of the business," said Joseph NeCastro, Scripp’s executive vice president/finance and administration, during the conference.
    He acknowledged that the newspaper industry’s woes over the past year have accelerated management's actions to either spin off its newspaper division or possibly sell some papers. "Newspapers are much more troubled," NeCastro said at the conference. "It's hard to call the bottom."

    rest: http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003530405
     
  2. Killick

    Killick Well-Known Member

    That whirring sound you hear is generations of Scripps family members spinning in their graves.
     
  3. JayFarrar

    JayFarrar Well-Known Member

    A recent article I read said that 40 percent of the broadcast revenue and 20 or 25 percent of total revenue at Scripps is coming from the Food Network and HGTV.
    And that newspaper revenue was down, and in real money, not the projected revenue down trick.
     
  4. Killick

    Killick Well-Known Member

    Ah, yes, the crystal meth of midwestern haus fraus.
     
  5. DyePack

    DyePack New Member

    "Newspapers are much more troubled," NeCastro said at the conference. "It's hard to call the bottom."

    Wonder if he's talking about the finances or the dysfunctional, illogical newsrooms.
     
  6. 2muchcoffeeman

    2muchcoffeeman Active Member

    Not surprised, since Scripps seems perfectly happy to let its hometown paper (Cincinnati Post) die off when the JOA expires. Sucks for the Scripps newspaper employees, though.

    Are you effin' kidding me?

    [​IMG]

    If she's not enough reason to watch the Food Network ...
     
  7. JayFarrar

    JayFarrar Well-Known Member

    Poynter has a memo up that says Scripps isn't considering a sale, but instead a split of its newspaper and broadcast divisions. The real stock value is in the cable channels and Giada's hot.
     
  8. Killick

    Killick Well-Known Member

    Link, please?
     
  9. MileHigh

    MileHigh Moderator Staff Member

    http://poynter.org/forum/view_post.asp?id=12201
     
  10. slappy4428

    slappy4428 Active Member

    Oh good. A link to poynter. More ranting...
     
  11. beefncheddar

    beefncheddar Guest

    Interesting.

    This was heavily rumored back when I was working for Scripps. And that was five years ago.
     
  12. MileHigh

    MileHigh Moderator Staff Member

    http://blogs.denverpost.com/lewis/2007/01/10/rocky-mountain-news-up-for-sale/
     
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