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 06:00 AM
Eleven FCC Scenarios for The 600 MHz Band Plan
I suspect that the estimated $44 billion of auction proceeds do not take into account the fact that some spectrum the FCC will buy cannot be resold because it must be used as guard intervals in the 600 MHz band plan.~ Charles W. Rhodes

Zazil Media Group /   Thursday 11:07 AM
NAB 2015 Preview: Dalet Spearheads the Facility of the Future
Wall Street Communications /   Thursday 07:36 PM
Digital Alert Systems 2015 NAB Show Preview

Featured Articles
Discover TV Technology