Scripps announces plan to split into two publicly trade companies

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Cincinnati—E.W. Scripps Co.’s board on Tuesday unanimously approved a plan to separate Scripps into two publicly traded companies, one focused on national lifestyle media brands and the other on local media outlets. The companies that would exist after the separation would be called Scripps Networks Interactive and E.W. Scripps Co. Scripps Networks Interactive would consist of media brands and associated enterprises that operate collectively as Scripps Networks, including television’s HGTV and the Food Network. E.W. Scripps Co. would be comprised of daily and community newspapers in 17 U.S. markets, 10 broadcast TV stations, the character licensing and feature syndication businesses operated by United Media, and Scripps Media Center in Washington, D.C, which includes the Scripps Howard News Service. The separation is expected to be completed in the second quarter of 2008.

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