Tuesday, August 11, 2009

Scripps up sharply on Wall St on surprise profit

US media company EW Scripps Co. reported a surprise quarterly net profit on Monday, despite a steep decline in advertising revenue, sending its shares sharply higher on Wall Street.

Scripps posted a net profit of 2.3 million dollars in the second quarter compared with a net loss of 531.2 million dollars a year ago on write-downs in the value of its newspaper operations and other businesses.


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