Thursday, February 19, 2009

E.W. Scripps posts US$19.4 million loss as ad revenue dwindles

U.S. media company E.W. Scripps says it lost more than US$19 million during the fourth quarter because of declining advertising revenue, reversing a year-ago profit.

The Cincinnati newspaper and television company lost $19.4 million, compared with earnings of $44.7 million in the same quarter a year ago.

E.W. Scripps Co. said the loss does not include income tax and other charges, however, because of an accounting delay. The company did not release earnings per share figures as a result.

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