The story of Knoxville’s Scripps Networks (SNI) in one paragraph from the Pot of Gold blog.
Kenneth W. Lowe wanted to create a 24-hour TV cable network about rooms in the home for the E.W. Scripps Co. and wanted to do it while Scripps’s was losing nearly $1 million a month in a brutal newspaper war in Denver. A reluctant board agreed - and then began losing $1 million a month on the network. Payback for the gamble? Within a decade of the launch of HGTV and Scripps Networks: $2 billion in revenues, $700 million in profit