Newspaper publisher and cable network owner E.W. Scripps reported today that its profits jumped 48 percent in the third quarter, in large part due to gains by its TV networks and comparison-shopping site Shopzilla.com, which it acquired in June, reports the Associated Press. Scripps earned $82.2 million, or 50 cents per share, compared with $55.6 million, or 34 cents per share, in the prior-year period. Revenue rose 19 percent to $594.7 million from $499.8 million a year ago.
Shopzilla's revenue more than doubled year-over-year, and profits increased nearly six-fold: It posted a profit of $7.3 million on $35.2 million in revenue; in the prior-year period, its profit was $1.2 million, on $15.9 million in revenue. Advertising revenue at Scripps Networks, which includes the HGTV, Food Network and DIY Network cable channels, jumped 27 percent to $163 million.
Profit in the newspaper division was down 23 percent to $41.6 million, compared with $54.2 million during the same period last year.