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Scripps Completes Harte-Hanks and The Food Network Acquisitions

Oct. 16, 1997

Cincinnati, Ohio — The E. W. Scripps Company today completed two previously announced transactions at a total cost of approximately $700 million.First, Scripps acquired six newspapers (five in Texas and one in South Carolina), plus stations KENS-TV and KENS-AM in San Antonio from Harte-Hanks Communications.Then, through a subsequent transaction, Scripps traded the KENS stations to A.H. Belo in exchange for Belo’s 56 percent controlling interest in The Food Network and $75 million in cash. Transfer of the KENS broadcast licenses to Belo is subject to final government approval.Following these transactions, Scripps operates:· Nine network-affiliated television stations;· Newspapers in 20 markets;· Two television networks — Home & Garden Television and The Food Network;· United Media, a licensor and syndicator of news features and comics;· Cinetel Productions, a creator of programming primarily for cable TV networks;· Scripps Howard Productions, a creator of programming primarily for broadcast TV networks.