E.W. Scripps Posts Loss, Shares Tumble

E.W. Scripps(SSP Quote) should know the headline. The media concern and newspaper publisher turned in ugly first-quarter results Monday, hit by the same collapsing demand for print advertising that has afflicted the industry across the board.

Shares of the company dropped 7% Monday morning, changing hands recently at $1.95.

Scripps, which shuttered the century-old Rocky Mountain News in February, reported a loss "attributable to shareholders" -- which excludes write-downs in the value of its radio stations along with other charges -- of $13 million, or 24 cents a share, wider than analysts' estimates of a 13-cent loss. In the year-ago period, Scripps reported earnings, excluding items, of $7.4 million, or 14 cents a share. ...