E.W. Scripps Co. (NYSE: SSP) reported Q1 EPS of ($0.01), $0.12 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $203.8 million versus the consensus estimate of $201.55 million.

Television operating revenues were up 5.4 percent in the first quarter of 2014, driven by strong local advertising and retransmission revenue growth and higher-than-expected political advertising revenue of $2.7 million.

Retransmission fees from cable and satellite providers increased 19.5 percent to $12.5 million. In 2014, the company will renegotiate retransmission agreements covering more than one-third of our subscribers.

Newspaper operating revenues declined 1 percent from the year-ago quarter, moderated by increases in subscription revenue. Segment profit increased $2.6 million over the 2013 quarter due to a $3.5 million drop in employee-related costs.

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