Scripps Networks Interactive paid its CEO Kenneth Lowe $11.8 million in 2014, up nearly 64 percent from his compensation a year earlier, the company said in a filing on Wednesday. Scripps, the company behind lifestyle cable networks like Hgtv, Great American County, Travel Channel and Food Network, said the big lift in compensation for Lowe was mostly due to stock awards of $6.4 million, up from $2.3 million a year earlier. His base salary was $1.42 million, up from $1.29 million a year earlier. Shares of Scripps fell 12 percent in 2014. Scripps CFO Joseph
read more...
read more...
- 4/1/2015
- by Paul Bond
- The Hollywood Reporter - Movie News
Scripps Networks Interactive sees opportunities to expand its international business, especially in Latin America, Europe/Middle East/Africa and Asia, and is encouraged by the early results of a online VOD content licensing deal with Amazon.com, CEO Kenneth Lowe said Wednesday. Speaking at the Goldman Sachs Communacopia investor conference in New York, he also addressed recent ratings challenges at the Food Network and said his firm and industry wouldn't start offering networks a la carte. The Food Network's ratings have been down for about a year. Lowe said the decline has come after a record year in 2012, leaving him not
read more...
read more...
- 9/25/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
John Lansing has led the Scripps Networks operating division for the past nine years, overseeing Food Network, Travel Channel, Hgtv, Diy Network, Cooking Channel, Great American Country and their related businesses. Scripps said today he is retiring from the post but will continue as a consultant. The company appointed 19-year veteran Burton Jablin to take over after serving as president of Scripps’ home category, which includes Hgtv and Diy; Jablin was instrumental in the launch of Hgtv in 1994, serving in several roles within the network until becoming its president in 2001. He will be responsible for the management and development of the company’s portfolio of television networks, digital content businesses and all other related operations. Kathleen Finch, formerly Svp and Gm of Hgtv and Diy, will take over running the home division. During Lansing’s tenure, total annual revenues generated by Scripps’ lifestyle media business tripled from $724 million in 2004 to...
- 9/5/2013
- by THE DEADLINE TEAM
- Deadline TV
You probably figured that this morning’s Q2 financial report wouldn’t mention the most attention-grabbing development in the period — Food Network’s decision to dump celebrity chef Paula Deen — right? Scripps Networks stuck instead with the numbers, which generally look pretty good. The company generated net income of $159.7M, +12.2% vs the period last year, on revenues of $665.1M, +10.7%. That revenue number topped the Street’s expectation for $656.3M. Earnings at $1.08 a share also beat forecasts for $1.05. The results emboldened Scripps to raise its revenue forecast for the year: It now projects an increase of as much as 10% vs 2012, up from its earlier prediction that went as high as 9%. The company’s lifestyle media channels saw ad sales rise 10% in Q2 to $456M, which it attributes to “the strong advertising market.” Fees from pay TV distributors rose 9.5% to $182M, including some revenue from streaming deals. Food Network was the laggard in the group,...
- 8/8/2013
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
The lifestyle oriented cable TV networks company reported across-the-board increases in Q3 revenues for its channels. Net income came in at $156.8M, +20.6% vs the period last year, on revenues of $566.2M, +12.4%. The revenue figure was slightly ahead of the $555.7M that analysts forecast. Earnings per share for continuing operations, at 79 cents, topped expectations for 74 cents. Company watchers may be surprised to see the 10% increase in ad sales to $377M — that’s about $5M more than many analysts anticipated. Just as interesting is the 18% jump in affiliate fees, to $175M. Food Network fed the coffers with $198.9M in revenue, +10.5% while Hgtv was +8.1% to $195.4M. And all of the smaller channels delivered double-digit increases in revenues including Travel Channel’s $68.9M (+10.1%), Diy Network’s $29.9M (+26.0%)m Cooking Channel’s $21.6M (+30.5M), and Gac’s $6.9M (+14.5%). “We’ve established ourselves as clear leaders in our ability to influence consumer purchasing decisions in the home,...
- 11/1/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Investors have been warming to the lifestyle cable channel company. And if Scripps can assure them that programming costs are under control, it likely helped itself this morning. It projected that total year revenues could rise as much as 12% due to better-than-expected ad sales — and reported better-than-expected Q2 results. Net income of $191.4M is +57.1% vs the period last year, on revenues of $601M, +12.5%. Revenues came in ahead of the Street’s expectation of $592.8M. And earnings of 93 cents a share beat forecasts for 87 cents. The Food Network stood out with revenues +16.5% to $218.5M. The next biggest channel, Hgtv, was +8.4% to $205M. But Gac remains a problem. It was -15.4% to $5M, even though it expanded its reach by 4% to 62.6M pay TV homes. Overall, though, CEO Kenneth Lowe says that Scripps’ channels “attract a highly qualified and upscale audience that our advertising partners value. We set a company record this...
- 8/2/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
The home of Hgtv and the Food Network seemed to deliver in Q1. It had net income of $157M, up 8% vs early 2011, on revenues of $535.3M, up 11.3%. The revenue figure compares to Wall Street’s expectation of $519.4M. And earnings per share at 73 cents beat the forecast of 60 cents. The company says that ad sales rose 10% to $356M while fees from pay TV providers were up 16% to $168M. That outweighed the 17% rise in expenses, which Scripps attributes to programming costs as well as investments in “a number of planned growth initiatives.” Food Network cooked up strong results with revenues up 14% to $199M. Hgtv, which struggled to find its footing in the anemic housing market, was up 8.4% to $186M. Great American Country continues to vex investors: Its revenues fell 23% to $5M. CEO Kenneth Lowe says that the Q1 results reflect “the strong relationships we’ve forged with media consumers, advertisers and content distributors.
- 5/3/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
It’s not a leading economic indicator. But Scripps Networks CEO Kenneth Lowe says that programming on his cable channel Hgtv “had to be turned on its head” when the housing bubble burst a few years ago. Viewers suddenly wanted to know how to flip their house, not just how to make it beautiful. But things are changing, he hopes: “As we slowly build the housing market back, it will have a positive effect on Hgtv.” So will improvements at the network’s popular show House Hunters, where ratings have softened. “Stabilization is the key word” for that show, Lowe says. That concept is important for all of Scripps’ lifestyle-focused services. When it comes to advertising, “we’re not seeing a lot of things to be concerned about, but we’re watching along with the rest of the industry,” says Lori Hickok, Evp Finance. Lowe’s upbeat, though, because he...
- 12/7/2011
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Shares are down 2.6% in pre-market trading following the 3Q earnings report from the owner of lifestyle channels including Hgtv and the Food Network. The company said it had nearly $130M in net income, down 4.5% vs last year’s 3Q, on revenues of $503.7M, up 7.9%. Analysts expected to see $509.7M. Earnings at 65 cents a share matched the Street’s expectation — but included several one-time gains and losses. Factoring those out, the company says its continuing operations delivered 66 cents. Scripps says that its decision to produce new shows at all its networks contributed to a 25% increase in programming costs and a 33% increase in marketing and promotion expenses. Those outweighed an 8.6% gain in ad revenues, to $344M, and 6.1% improvement in affiliate fees, to $148M. As for revenues at the major channels: Food Network was +12% to $180M, Hgtv was +4.1% to $181M, Travel Channel was +0.4% to $62.6M, Diy Network was +3.7% to $23.7M, Cooking Channel was +36% to $16.6M,...
- 11/3/2011
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Scripps Networks Interactive and Virgin Media announced the agreement today. UKTV is one of Britain's leading multichannel TV programming companies. Scripps Networks will pay about $390M to purchase Virgin Media's 50% common equity interest in the UKTV partnership and also will pay about $163M to buy the outstanding preferred stock and debt owed by UKTV to Virgin Media. BBC Worldwide is the other 50% stakeholder in UKTV. Completion of the transaction is contingent on regulatory approvals in the Republic of Ireland and Jersey. UKTV is a significant opportunity for Scripps to participate in a thriving multichannel dual-revenue stream media biz in one of the world's largest television markets, according to Kenneth Lowe, Chairman/President/CEO of Scripps Networks Interactive. "Making a solid investment in UKTV and entering into a strong partnership with BBC Worldwide reinforces our core international strategy which we believe will create significant long-term value for our shareholders." Related to the transaction,...
- 8/16/2011
- by THE DEADLINE TEAM
- Deadline TV
New York -- Scripps Networks Interactive has won the auction for Travel Channel Media.
The company has agreed to take a 65% stake in Travel Channel and its related activities in a deal with Cox Communications that values the network at $975 million. That is well ahead of the original expectations of a $600 million-$700 million price tag.
Industry executives have expressed continued interest in buying cable networks, highlighting that their dual revenue streams have allowed them to perform better amid the recession.
News Corp. and private-equity firms also had been in the running for the channel.
Scripps Networks and Cox will form a joint venture. Under the deal, expected to close in the coming months, Cox will contribute Travel Channel Media. Scripps will contribute $181 million in cash and guarantee $878 million in debt that will be indemnified by Cox. The venture structure allows Cox to avoid a big tax bill.
Launched in 1987, Travel Channel reaches about 95 million U.
The company has agreed to take a 65% stake in Travel Channel and its related activities in a deal with Cox Communications that values the network at $975 million. That is well ahead of the original expectations of a $600 million-$700 million price tag.
Industry executives have expressed continued interest in buying cable networks, highlighting that their dual revenue streams have allowed them to perform better amid the recession.
News Corp. and private-equity firms also had been in the running for the channel.
Scripps Networks and Cox will form a joint venture. Under the deal, expected to close in the coming months, Cox will contribute Travel Channel Media. Scripps will contribute $181 million in cash and guarantee $878 million in debt that will be indemnified by Cox. The venture structure allows Cox to avoid a big tax bill.
Launched in 1987, Travel Channel reaches about 95 million U.
- 11/5/2009
- by By Georg Szalai
- The Hollywood Reporter - Movie News
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.