05.22.2006 11:35 AM
Shop at Home Network goes out of business

EW Scripps Co. announced last week that it's shutting down its Shop At Home network because of ongoing operating losses and the absence of a suitable buyer for the business.

The company said it would take an after-tax loss in the second quarter of up to $60 million for the shutdown, Reuters reported.

Scripps, a broadcaster and newspaper publisher, will stop broadcasting the Shop At Home TV network and close its Web site June 22.

The network's 660 full-time employees will receive severance packages and “a range of career transition services,” Scripps said in a statement. The company said it is exploring programming alternatives for the five Shop At Home affiliates it acquired in 2004 while it seeks buyers for the stations.

Scripps acquired a controlling interest in Shop At Home in 2002, and bought the remaining interest in 2004 for a about $285 million. The network has incurred $84 million in losses since 2002.

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Tuesday 03:07 PM
WMUR-TV Says FAA Drone Rules Preclude ENG
The FAA’s current rules and proposed ban on flight over people, requirement of visual line of sight and restriction on nighttime flying, effectively prohibit broadcasters from using UAS for newsgathering. ~ WMUR-TV General Manager Jeff Bartlett

D. Pagan Communications /   Friday 10:35 AM
Blue Line is Hot on the Trail of DPA Microphones
Clyne Media, Inc /   Thursday 09:51 PM
Focusrite Expands RedNet Range

Featured Articles
Discover TV Technology