Scripps Splits, Releases Papers + Local TV

EW Scripps has split itself into two companies: one featuring local TV stations and print newspapers (EW Scripps) and the other combining its online and cable TV properties (Scripps Networks Interactive). It’s a pretty clear case of growth vs. stasis, “new media” vs. “old media” in the minds of Scripps executives.

The new SNI (the other way would have been “SIN”) contains:

Lifestyle Media, with popular lifestyle television and Internet brands HGTV, Food Network, DIY Network, Fine Living Network and country music network Great American Country (GAC); and Interactive Services, with leading online search and comparison shopping services, Shopzilla and uSwitch.

The decision was largely motivated by the drag that the traditional media part of the business had on the stock price of the company as a whole. It’s too bad, however, that the company wasn’t able to tell a compelling enough story to the market about the combined value of traditional and online/new media.

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