Scripps Networks Interactive
“Market Cap $11.36 B As of May 2014
At a Glance
- Industry: Broadcasting & Cable
- Founded: 1878
- Country: United States
- CEO: Kenneth Lowe
- Website: www.scrippsnetworks.com
- Employees: 2,200
- Sales: $2.53 B
- Headquarters: Knoxville, Tennessee
#1499 Global 2000
- #1139 in Profit
- #967 in Market value
Scripps Networks Interactive, Inc. develops lifestyle oriented content for many media platforms including television, digital, mobile and publishing. Its businesses engage audiences and serve advertisers by delivering entertaining content that focuses on specifically defined topics of interest. The company manages its operations through one reportable operating segment: Lifestyle Media. The Lifestyle Media segment includes its national television networks, Food Network, Home and Garden Television, Travel Channel, DIY Network, Cooking Channel and Great American Country. This segment also includes websites that are associated with the aforementioned television brands and other Internet-based businesses serving food, home and travel related categories. It intends to expand and enhance its lifestyle brands through the creation of popular new programming and content, the use of new distribution platforms. Scripps Networks Interactive was founded on July 1, 2008 and is headquartered in Knoxville, TN.”
“Scripps Networks Interactive History
The Early Years
Scripps Networks Interactive’s (NYSE:SNI) history dates back to 1878 when Edward W. Scripps founded The Penny Press in Cleveland. The E.W. Scripps Company (Scripps) solidified its position as one of the most successful newspaper publishers of the post-war era and built its reputation as a leading operator of local television stations.
In the early 1980s, in an effort to develop a source of revenue that wasn’t dependent upon advertising, Scripps Networks began buying and building cable television systems, eventually becoming one of America’s largest cable operators. The cable TV systems were later sold to Comcast.
The Beginning of Scripps Networks Interactive
In the 1990s, to take advantage of the changes in technology and new media opportunities, Scripps Networks began to direct its free cash flow to investments in information and entertainment content. In 1994, Scripps Networks purchased Cinetel Productions, a Knoxville-based creator of programming for cable, and announced plans to launch HGTV.
Building on the success of HGTV, Scripps Networks acquired and launched additional lifestyle television networks. Food Network (1997) was brought into the fold and, like HGTV, now reaches almost 100 million U.S. television households. The company started DIY Network (1999) and Fine Living Network (2002), then acquired Great American Country (2004) and Travel Channel (2009) to round out its existing six-network portfolio. Scripps Networks Interactive continues to launch niche broadband channels that extend the core brands’ presence on the Internet with advertiser-supported, on-demand content. Our lifestyle networks are complemented by award-winning companion websites created and supported by Scripps Networks Interactive Digital.
From newspapers to broadcast television, cable programming and the Internet, The E.W. Scripps Company evolved into one of America’s most forward-thinking media companies, and along the way, created significant long-term value for its shareholders.
In October 2007, the board of directors of The E.W. Scripps Company authorized a separation into two publicly-traded companies– one focused on the growing national television lifestyle brands and global Internet services, and the other on relevant, innovative and enduring local media businesses. The transaction was completed on June 30, 2008.
Today The E. W. Scripps Company is a leading media enterprise serving communities through television stations, newspapers and digital options for their customers.”
*Information from Forbes.com and Scrippsnetworks.com
**Video published on “Msl Poland”