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Posts Tagged ‘McGraw-Hill’

Scripps Reports 16% Decrease in Q4 Revenue, Looks to Future Following McGraw-Hill Acquisition

The E.W. Scripps Company today reported fourth quarter revenue of $84.7 million for its station group–a 16% decrease compared to the $101 million brought in during the same period a year ago.

Excluding political advertising, Scripps notched an 11.4% increase for the period, buoyed by a 14% jump in local advertising as well as 30% more in retrans revenue, compared to Q4 2010.

“We substantially repositioned Scripps in 2011, clearing the way for improved performance in 2012, enlarging our television footprint, and enabling an aggressive rollout of new digital products and services,” Scripps president and CEO Rich Boehne said. Read more

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Scripps Completes Purchase of 9 McGraw-Hill Stations

Nearly three months after the E.W. Scripps company announced the acquisition of nine stations from The McGraw Hill Company, the purchase is complete.

The FCC approved the $212 million deal earlier this month. In a statement, McGraw-Hill chairman, president and CEO Harold McGraw III said he was pleased with the Scripps purchase.

“I thank the talented men and women of these stations for their valuable contributions to McGraw-Hill and know they are joining a respected media organization where they will continue delivering news, insights and entertainment,” he said.

Stations involved in the deal are ABC-affiliates KMGH in Denver, KGTV in San Diego, KERO in Bakersfield and WRTV in Indianapolis, as well as four Azteca America affiliates in Denver, Fort Collins, Colorado Springs, San Diego and Bakersfield.

Scripps’ SVP On New Stations: ‘We’re Going To Be Really Serious About Good Quality Journalism’

TVNewsCheck has an interesting look at Scripps’ recent nine-station acquisition from the perspective of Brian Lawlor, who is the senior vice president of Scripps’ TV division. Lawlor — who says that Scripps “can’t wait to meet” the former McGraw-Hill employees — talks about what employees at, and viewers of, the nine new Scripps stations can expect:

I think we have been very focused on quality journalism, making sure that our story telling and our story selection is representative of the community — not the easy stuff, just chasing fires and crime — but really trying to find those issues that are core, that are really going to get some discourse and that are going to be meaningful. So I think they can expect that we’re going to be really serious about good quality journalism that’s going to make a difference in their communities.

Read TVNewsCheck’s full interview with Lawlor here.

McGraw-Hill Reports 10.2% Boost in First Quarter

McGraw-Hill announced today that its first quarter broadcasting revenue was up 10.2% compared to the same period last year.

The company, which owns four ABC-affiliates across the country including Denver’s KMGH and San Diego’s KGTV, brought in $20.6 million during the first quarter and is attributing the boost to growth in automotive advertising and an increase in retransmission revenue.

“A promising year is off to a solid start,” said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies, in announcing the financial results.

Retrans money and advertising growth helped McGraw-Hill offset a decline in political advertising from the previous year. As well, McGraw-Hill, with only ABC-affiliates in its stable, avoided the declines in revenue recently reported by such station owners as Media General and Gannett, whose NBC-affiliates had the Olympics last year and CBS-affils had the Super Bowl.

McGraw-Hill Saw 18% Increase in 2010 Broadcast Revenue

McGraw-Hill announced today that fourth quarter revenue for its Broadcasting Group was up 21.7%.

Although McGraw-Hill‘s broadcasting unit benefitted from strong political advertising in the fourth quarter, it saw significant revenue growth for the year as a whole.

The company, which owns ABC-affiliates in Denver, San Diego, and Indianapolis, brought in $96.0 million in 2010, with $28.4 million coming in the fourth quarter.

Overall, McGraw-Hill’s Broadcasting Group increased revenue by 18.3% in 2010.

“Double-digit EPS growth and the maintenance of a rock-solid financial position were the hallmarks of our performance in 2010,” said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies.