E. W. Scripps Sees Q4 Television Revenue To Be Down Low To Mid-teens

(RTTNews) - E. W. Scripps Co. (SSP) expects television revenue for the fourth-quarter to be down low to mid teens. Political revenue is expected to be about $4 million, compared to $43.9 million in the prior-year period.

For the fourth-quarter, the company expects television expenses to increase about 10 percent, primarily due to higher programming fees; Radio revenue to be down mid-single digits; Radio expenses to be down low to mid-single digits; Digital revenue to be up in the mid-30 percent range;Digital expenses to be up nearly 30 percent; Expenses for shared services and corporate to be about $11 million.

As previously discussed, the company offered a lump-sum pension plan buyout, which concluded in October. It anticipates a non-cash charge of about $45 million in the fourth quarter of 2015.