Rather Big News About News In Tennessee
9 05 2008This is a big deal.
The board of Cincinnati-based E.W. Scripps Co. has approved management’s plan to separate the media company into two public companies, effective July 1.
The board authorized management in October to pursue the separation.
One company, Scripps Networks Interactive Inc., will include the cable networks HGTV, Food Network, DIY Network, Fine Living Network and Great American Country and online comparison shopping sites Shopzilla and uSwitch. The other, E.W. Scripps, will have 10 broadcast television stations and newspapers in 15 U.S. markets, the News Sentinel, Rocky Mountain News in Denver and The Commercial Appeal in Memphis.
Read the rest here.
I’m not real good at math, but does this mean the Scripps board puts the value of their cable/interactive business at three times the value of their broadcast TV and print business?
You Said What!