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Scripps CFO Expects Television Revenue to Increase Significantly This Year

Scripps CFO Expects Television Revenue to Increase Significantly This Year

The CFO of E.W. Scripps Co. told investors recently that he expected the company's television revenue to climb by 50 percent this year, largely due to the acquisition of nine stations from McGraw Hill Broadcasting Company.

The Cincinnati Business Courier reports finance chief Tim Wesolowski told investors at the Noble Financial Equity Conference in Miami, Florida, that revenue for its television division will likely increase 15 percent even without the additional stations.

"Our TV business is very healthy," Wesolowski noted. "We believe we’ve got very favorable geography heading into the 2012 elections and we’re looking for very robust spending on the political side on TV."

While TV revenue is expected to grow, the finance chief acknowledged newspaper revenue is expected to continue its decline, according to the news source.

The finance chief's comments come following the recent appointment of an editor to one of Scripps' executive jobs. According to a release, Mizell Stewart III - who has served as editor of the Evansville Courier-Press since 2007, will take over as vice president of content for the Scripps newspaper group on January 23.

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