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NEW YORK—E.W. Scripps says second-quarter profit fell 48 percent on a sharp revenue decline at its newspaper properties and costs related to splitting off its digital businesses.
Scripps’s results include for the final time its television networks and online services sites, which were spun off to form Scripps Networks Interactive Inc. on July 1.
The Cincinnati-based media company says net income fell to $51.2 million, or 94 cents per share, from $97.5 million or $1.78 per share a year earlier.
Total revenue is 4 percent higher at $664 million on increased ad sales at the company’s HGTV and Food Network channels. Scripps newspapers revenue is down 13 percent to $144 million.
