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Scripps posts solid earnings
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Scripps Networks Interactive reported solid first quarter earnings with operating revenues up across all of its channel brands.
Food Networks, its biggest contributor, saw operating revenues climb 4.8% to US$208m (€158 million), while the biggest increase was for the Cooking channel, which saw revenues increase 32.7% to US$26.3 million.
Overall, the firm’s revenues for the quarter grew 11% year-on-year to US$594 million. However, revenues were down, coming in at US$108 million compared with US$115 million a year earlier.
“Scripps Networks Interactive delivered strong first quarter results demonstrating the strength of our lifestyle brands as valuable advertising platforms worldwide,” said Kenneth W. Lowe, chairman, president and chief executive officer of Scripps Networks Interactive.
The firm makes 2,000 hours a year of original on-air programming and its content can be seen in 170 countries across all seven continents. Its portfolio of channels includes the brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.
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