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Media company E.W. Scripps reports 4Q loss on uSwitch write-down

Media company E.W. Scripps reports 4Q loss on uSwitch write-down

Media company E.W. Scripps has lost $256 million (euro168.79 million) on a big write-down in the value of its United Kingdom shopping Web site.
The loss of $1.56 (euro1.03) a share in the fourth quarter compares with a profit of $133.9 million (euro88.28 million), or 81 cents, at the same time a year earlier.
Cincinnati-based Scripps reported a preliminary profit of $123.3 million (euro81.29 million), or 75 cents a share, on January 31.
Scripps says it recorded a $411 million (euro270.98 million) , pretax charge from its uSwitch operations. It bought the shopping site in 2006. It helps consumers in the United Kingdom compare prices for insurance, loans and utility costs.


Updated : 2021-04-21 19:52 GMT+08:00