Lionsgate on Thursday posted a second-quarter loss as higher theatrical revenue offset lower home video and TV production revenue. Lionsgate posted a loss of $14.4 million, compared with a loss of $14.1 million a year ago. Overall revenue climbed 3.4% to $218.1 million. Theatrical revenue hit $20.5 million during the latest quarter, up 9% thanks to the boxoffice success of "The Descent" and "Crank." Home video revenue came in at $115.1 million, off 4%, with business coming mainly from "Akeelah and the Bee" and "Ultimate Avengers 2." Lionsgate shares were up fractionally Thursday to $10.65, though they fell as much as 2% after hours.
Crown Media slow
Crown Media Holdings Inc., operator of the Hallmark cable channel, said Thursday that its third-quarter loss widened as sales slumped and costs increased. Net loss for the quarter was $84.3 million, compared with a loss of $65.8 million a year ago. Revenue for the quarter was $47.3 million, down from $50.7 million last year. Shares of Crown Media gained 5.6% on Thursday to $3.79.
E.W. Scripps Co. said Thursday that its October revenue climbed 8.8% to $91.8 million at its Scripps Network division comprising HGTV, Food Network, DIY Network and other cable channels. Revenue at newspapers managed solely by Scripps dropped 2.6% compared with a year ago, while revenue at its broadcast television stations surged 47% to $45.1 million on the strength of political advertising. The company said it now expects total revenue at the television station group to be up about 20% in the fourth quarter, compared with its previous forecast of an 11%-13% rise. Shares of Scripps fell fractionally Thursday to $50.14.