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CHICAGO (AFX) -- Shares of E.W. Scripps Co. closed higher Thursday on better than expected fourth-quarter earnings, escaping the downtrend that hit most of the media and entertainment sector.
Scripps rose $2, or 4.2%, to close at $50.25. Excluding a charge on losses at its Shop At Home TV network, Scripps would have earned 54 cents a share in the latest quarter. Revenue rose 16.5% to $706.8 million.
Analysts polled by Thomson First Call were expecting a profit of 49 cents a share on revenue of $698.4 million.
Comcast Corp. fell 91 cents, or 3.3%, to close at $27 after it said Thursday that its quarterly profit declined 69% on unrealized gains in its investment portfolio and on an increased tax rate.
Excluding the effects of investments and other income and the tax increase, Comcast said that it would have earned $186 million, or $91 million, in the latest three months.
Revenue rose to $5.72 billion from $5.24 billion.
Analysts polled by Thomson First Call were expecting a profit of 15 cents a share on revenue of $5.7 billion.
Among diversified media conglomerates, Walt Disney Co. , News Corp. and Viacom Inc. were marginally lower, while Time Warner Inc. and Sony Corp. were higher. This story was supplied by MarketWatch. For further information see
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