E.W. Scripps Reports Second Quarter Loss Despite Revenue Growth

Media company E.W. Scripps reported a second quarter loss despite strong revenue growth from increased political advertising spending. Results for the second quarter were a loss of 6 cents a share. Estimates had been for earnings of 6 cents a share. Revenue of $212 million was slightly higher than expectations and was roughly $4 million dollars higher than the prior year's quarter. The reason for the loss was due to acquisition and integration costs after merging with Journal Communications. The deal will create two publicly traded companies. One company will include all the newspaper properties and the other will include all of Scripps' broadcast operations. TheStreet's Whalen MacHale has details from New York.