E.W. Scripps Q4 Profit Rises

(RTTNews) - The E.W. Scripps Company (SSP) reported fourth quarter income attributable to shareholders of $73 million or $0.84 per share. In the prior-year quarter, income from continuing operations attributable to the shareholders was $40.2 million or $0.43 per share. Segment profit was $204 million, up 21%.

Total company revenue was $681 million, an increase of 9.4% from the prior-year quarter due to higher political and distribution revenue in Local Media division. Revenue from Local Media was $433 million, up 24% from the prior-year quarter.

On Dec. 31, cash and cash equivalents totaled $18 million and total debt was $2.9 billion.

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