Media company E.W. Scripps, parent of the News Sentinel, said it expects to see a sharp increase in TV revenue this year, while newspaper revenue should fall slightly.
Television revenue should jump 50 percent in 2012, due in part to increased political advertising and the recent acquisition of nine TV stations from McGraw-Hill Broadcasting Co., Cincinnati-based Scripps said in prepared remarks at the Noble Financial Equity Conference.
The new TV stations are expected to generate more than $100 million in revenue. Political revenue is expected to total more than the $42 million generated in the previous presidential campaign.
Newspaper revenue is expected to drop to about $400 million.
In October, Scripps announced that it was buying nine stations from McGraw-Hill. The transaction includes four stations affiliated with the ABC network: KMGH in Denver, the country’s 17th largest market; WRTV in Indianapolis, the 27th largest market; KGTV in San Diego, the 28th largest market; and KERO in Bakersfield, Calif., the 125th largest market.
Five other stations involved in the transaction — KZSD in San Diego, KZKC in Bakersfield, KZCO in Denver, KZFC in Fort Collins, Colo., and KZCS in Colorado Springs, Colo. — are low-power stations affiliated with the Azteca America Spanish-language network.
Scripps will provide more detailed financial guidance when it releases its year-end earnings report in February.
Click here for webcast of Scripps financial conference presentation.