Scripps defies trend to return good profits

While most newspaper companies have been floundering because of sagging advertising revenue and circulation, EW Scripps is defying the trend with excellent returns. But the main profits are not from newsprint. The publisher of the Rocky Mountain News in Denver is gaining most of its revenue from its relatively new collection of cable channels, such as Home and Garden Television, Fine Living, and the Food Network. It has also done well with its specialised internet search engine Shopzilla.com. "Scripps looks like a million bucks, and it's just warming up," said one analyst. (Via Reuters)