Media Companies

Food Network Owners Post Flat Third Quarter Revenue

By Noah Davis on October 29, 2008 11:02 AM

scripps10.29.08.jpgScripps Networks Interactive, announced that its third-quarter earnings were in line with those from last year, good news for the media company.

Overall, net income fell just $0.6 million from $57.9 million to $57.3 million. The Lifestyle Media group — which includes the Food Network, HGTV and DIY Network among others — saw revenue increase 7.8 percent year-over-year and profit grow 5.1 percent.

In July, E.W. Scripps spun-off Scripps Networks Interactive into a separate entity. The new company, which has seen its stock price take a huge hit in the past month, was trading about even today.

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