Scripps beats expectations

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TV revenues fell 10.3% in Q3 at Scripps to 73.3 million, but that was better than expected, given the lack of political revenues. Local was up 1.1% and national 4.2%, while political was only 700K, vs. 11.7 million a year ago. The 16.3% gain for Scripps Networks to 289.4 million also beat expectations, as did the decline of only 5.7% for the company’s newspapers to 158.3 million. Q3 income from continuing operations was 87.9 million, or 54 cents per share. Excluding a four cent one-time gain, EPS still beat the analysts’ consensus by eight cents.


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