("Scripps Networks 4Q Net Up 38% As Revenue Climbs," published at 8:08 a.m. EST, incorrectly said the company owns uSwitch. A corrected story follows:) DOW JONES NEWSWIRES Scripps Networks Interactive Inc.'s (SNI) fourth-quarter profit climbed 38% as the cable-network operator was again helped by its Travel Channel deal and saw strong revenue gains in other brands. The owner of HGTV and Food Network, as well as websites such as Shopzilla, has posted improved results in recent quarters amid stronger advertising revenue. Its acquisition of a controlling stake in Travel Channel over one year ago has bolstered recent quarters' results. In December, Scripps was close to a deal to buy 50% of UKTV, a major British cable operator, for about $500 million, The Wall Street Journal reported, citing people familiar with the matter. UKTV, a joint venture between Virgin Media Inc. (VMED) and BBC Worldwide Inc., owns channels including Dave, Yesterday and Good Food and would help Scripps Networks build an international footprint. Scripps reported earnings of $130.6 million, or 77 cents a share, up from $94.4 million, or 57 cents a share, a year earlier. Excluding items such as tax impacts and asset-sale gains, earnings rose to 68 cents from 52 cents. Revenue jumped 33% to $573 million. It was up 20% assuming the Travel Channel was part of prior-year results. Analysts polled by Thomson Reuters predicted earnings of 69 cents on $558 million in revenue. Operating margin widened to 37.8% from 29.7%. Revenue at the lifestyle media segment, which includes the cable channels and accounts for the bulk of the total, climbed 32%, helped by the acquisition, as affiliate fee revenue jumped 61% and ad revenue climbed 23%. The Food Network brand saw revenue climb 23% while HGTV revenue was up 13%. Class A shares closed Wednesday at $50.37 and were inactive premarket. The stock has gained 24% in the past year. -By Matt Jarzemsky and Jenny Roth, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com
