Scripps Networks Interactive #1

Adriana Yorke
scripps-networks-interactive-inc-logo

Source: imeimage.com / Scripps Networks Interactive Logo [1]

9721 Sherrill Blvd
Knoxville, TN, 37932 United States
(865) 694-2700
http://www.scrippsnetworks.com

Key Executives:

Kenneth W. Lowe | Chairman of the Board, President and Chief Executive Officer

Joseph G. Necastro | Chief Development Officer

Burton Jablin | Chief Operating Officer

Henry Ahn | Press Content, Distribution & Marketing

Steven J. Gigliotti | Chief Revenue Officer

Kathleen Finch | Chief Programming, Content & Brand Officer

For the complete list of leaders, visit www.scrippsnetworks.com/leaders.

Company:

SNI-e1363329643555-1024x920

Source: imeimage.com / Scripps Networks Interactive Brands [1]

This is Scripps Networks Interactive.

Scripps Networks Interactive is a leading lifestyle orientated content developer for multimedia platform distribution including television, digital, mobile and publishing. [2] Their company’s holdings include its six national television networks: Food Network, Home and Garden Television, Travel Channel, DIY Network, Cooking Channel and Great American Country, and their award winning associated websites. [3] 

History:

In 1990, the E.W. Scripps Company began to channel its investments into information and entertainment content. In 1994, Scripps obtained Cinetel Productions, a creator of cable programming, and announced their plan to launch Home and Garden Television (HGTV). Capitalizing on the success that HGTV had, E.W. Scripps launched more lifestyle television networks. In 1997, they launched the Food Network that now, along with HGTV reaches over 100 million television households in the US. In 1999, the DIY Network was started, followed by the Fine Living Network just three years later. Great American Country was acquired in 2004, and five years later, the Travel Channel was obtained, rounding out Scripps Networks six-network holdings. [4]

By 2007, The E.W. Scripps Company had evolved into one of America’s most forward thinking companies. In October of that year, the board of directors authorized a separation into two publicly traded companies, one focused on the expanding television lifestyle brands and internet services and the other on local media businesses. The deal was completed on June 30, 2008, and Scripps Networks Interactive was formed on July 1, 2008. [4]

Financial Information:

Screen Shot 2015-12-02 at 3.43.31 PM

source: scrippsnetworks.com / 2015 Third Quarter Financial Results [20]

Scripps Networks Interactive had unexpected third quarter results with earnings of $124.6 million, with an earnings per share increase to 96 cents. Last quarter, their revenue rose to $776.1 million and they anticipate this carrying over into the fourth quarter. There was a 22.2 percent increase in advertising revenue and 13.5 percent affiliate fee growth, which helped drive this increase. Kenneth Lowe said, “This has been a transformative quarter for Scripps Networks Interactive… With a strategy that enables us to create deeper connections with consumers across the world, we are focused on delivering long-term growth and enhanced shareholder value.” [19]

Acquisition of TVN:

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Source: wikiwand.com / TVN Logo [7]

In September, Scripps Networks Interactive finalized their tender offer for all remaining shares of TVN (TV Nowa), Poland’s premiere multi-platform media company. Prior to this time, Scripps Networks Interactive had owned a majority holding of 52.7 percent of TVN through a deal they worked with Canal+ Group and ITI Group. On March 16th of this year, Scripps Networks Interactive €584 million deal was subjected to regulatory approval, which closed on July 2. At this time, Scripps Networks Interactive announced their intentions to acquire all remaining shares through a public tender offer. [5]

On September 28, Scripps Networks Interactive had obtained 46 percent more of TVN for 3,134.4 million zloty (approximately $833.1 million), or 20.00 zloty (approximately $5.32) per share. With the accumulation of these shares, Scripps Networks Interactive now own 98.8 percent of TVN. They have just finished a squeeze-out process, to obtaining the remaining 1.2 percent of shares. [6]

TVN is available in 86 percent of Polish households and they have numerous lifestyle and entertainment brands, such as TVN StyleTVN Turbo, and Poland’s leading 24-hour news channel, TVN24[7]

Creation of New Senior Rolls:

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Source: LinkedIn / Scripps Networks Interactive executive team [17]

On September 28, Scripps Networks Interactive created new senior management positions intended to boost their marketing efforts, brand recognition, and US network research. These new roles come after the announcement in August that Kathleen Finch was being promoted to the new position of Chief Programmer, Content & Brand for all networks. This follows the promotion of Shannon Jamieson Driver to Senior Vice President, Network Marketing & Creative Services. Prior to this, Jamieson was lead marketer for HGTV, DIY Network and Great American Country, and has been accredited with the monumental growth that HGTV had this past year.  She now will be in charge of marketing across all of Scripps networks. Gabriel Gordon has also been promoted to a cross-network role, rising from lead researcher for the Food Network and Cooking Channel to head researcher for all of Scripps Networks Interactive. Following suit, Freddy James and Alaka Williams have also been appointed to new roles that unite the six networks. [8]

These new cross-network positions show Scripps Networks Interactive’s approach to unite the networks and increase brand recognition overall. The network chose industry professionals from within the company that they think have both creative and commercial interests in mind, expanding all six networks potentials and increase audience share. [9]

New Fall Programming:

Scripps Networks Interactive have began creating and launching more unique creative content throughout many of their networks. Along with the return of past hit shows, such as Food Network’s Worst Cooks in America and HGTV’s “Flip or Flop,” they are integrating new programming to their fall lineups. Starting in November, Kelsey Nixon, will become the host of a new show, “Kelsey’s Homemade,” on the Cooking Channel‘s Saturday morning cast [10]. Giada De Laurentiis, a ratings all-star with the Food Network, is launching a seasonal program, “Giada’s Holiday Handbook.” The first episode was aired on the Food Network on November 8, and features a guide to creating culinary masterpieces for entertaining friends and family throughout this holiday season. [11]

Green Team's Duff Goldman and Drew Scott, Red Team's Jonathan Scott and Ron Ben-Israel with Host Egypt Sherrod, as seen on Food Network’s All-Star Gingerbread Build, Special.

Source: businesswire.com / Duff Goldman, Drew Scott, Jonathan Scott and Ron Ben-Israel with Host Egypt Sherrod [13]

The Food Network and HGTV have come together this winter as well to create cross-network programming. On November 28, Food Network and HGTV stars such as Duff GoldmanRon Ben-Israel, and the “Property Brothers” Jonathan and Drew Scott, came together to create a baking and building masterpiece, All-Star Gingerbread Build.” The program was simultaneously cast on both networks, and recast on on November 30 on the Cooking Channel. [12]

Hungry For More Food Network:

The Food Network has begun global expansion, throughout Europe and Australia. On November 6, a German language Food Network was launched for the first time. This lifestyle channel, along with Scripps Networks Interactive’s Fine Living Channel, have partnered with an OTT platform, TV Spielfilm which was launched in July of this year. Both of these channels, along with the Travel Channel, are available in the pay-TV lifestyle package for €2.99 per month. [14]

curtis2

Source: sbs.com.au / Chef Curtis Stone [16]

In Australia, public broadcaster SBS has partnered with Scripps to launch a version of the Food Network. The Food Network began airing down under on November 17 at 1 pm, free for all viewers. Programming was a mix of licensed Food Network shows, like Giada at Home, or Rachel Ray’s 30 Minute Meals, and original SBS programming led by Australian personalities, like Chef Curtis Stone. Food Network Australia will be aired 24 hours a day, 7 days a week, and all shows will also be available on SBS On Demand. [15]

Future Endeavors:

Scripps Networks Interactive plan to continue to deepen their brand recognition through multi-platform mediums. They will continue to make more original content throughout all of their networks and launch new shows, which will be available through both traditional and OTT methods. They also plan to continue global expansion and plan to maintain and strengthen their position as the number one lifestyle entertainment brand. [18]

Endnotes:

[1] Scripps Networks Interactive LogosNovember 19, 2015.

[2] Scripps Networks Interactive, Inc. Company ProfileNovember 21, 2015.

[3] Company Info: Scripps Networks Interactive, Inc., November 21, 2015.

[4] Scripps Networks Interactive: History, November 21, 2015.

[5] Scripps Networks Interactive Completes Tender Offer for Polish Media Company TVN, November 23, 2015.

[6] Scripps to Buy Majority Stake in Polish Television GroupNovember 23, 2015.

[7] TVN (Poland), November 23, 2015.

[8] Scripps Networks Interactive Enhances Capabilities Through New Appointments, November 24, 2015.

[9] Scripps Networks Elevates Barton Jablin, Kathleen Finch, November 24, 2015.

[10] Kelsey Nixon Returns to Cooking Channel with New Series, “Kelsey’s Homemade,” November 24, 2015.

[11] Giada De Laurentiis Shares Secrets for Holiday Entertaining in Seasonal Series ‘Giada’s Holiday Handbook,’ November 24, 2015.

[12] HGTV and Food Network Simulcast All-Star Gingerbread Build, November 30, 2015.

[13] HGTV and Food Network Simulcast All-Star Gingerbread Build Nov. 28, November 30, 2015.

[14] Scripps Networks Launches Food Network and Fine Living in Germany, November 21, 2015.

[15] Food Network to Launch Down UnderNovember 21, 2015.

[16] Introducing Your New Foodie Channel, Food Network, November 30, 2015.

[17] LinkedIn: Scripps Networks Interactive, November 30, 2015

[18] Scripps Networks Interactive: Our Brand, November 20, 2015

[19] Scripps Networks Third Quarter Earnings Beat Estimates, December 1, 2015

[20] 2015 Third Quarter Financial Results, November 9, 2015.

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