corresp
August 12, 2008
Mr. David R. Humphrey
Accounting Branch Chief
Securities and Exchange Commission
Division of Corporation Finance
Washington, D.C. 20549
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Re:
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The E. W. Scripps Company |
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Form 10-K for the year ended December 31, 2007
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File No. 000-16914 |
Dear Mr. Humphrey,
This letter supplements our July 10, 2008, response to your letter dated June 25, 2008, regarding
the SECs review of our Form 10-K for the year ended December 31, 2007.
In preparing our second quarter 2008 financial statements we determined that interim indicators of
impairment were present that made it more likely than not that the carrying value of our reporting
units may be less than their carrying values. As disclosed in our Quarterly Report on Form 10-Q
filed yesterday, we performed an interim impairment test. That test indicated the fair value of our
newspapers reporting unit was less than its carrying value and that
the fair value of our broadcast
television reporting unit exceeded its carrying value. As a result, we recorded an impairment
charge of $779 million to write-off goodwill for our newspapers reporting unit and a $95 million
charge to write down the carrying value of our investments in our
Denver JOA and Colorado newspaper
partnership.
If you have any questions about our responses or would like to discuss any of the matters further,
please contact me at (513) 977-3876.
Sincerely,
/s/ Douglas F Lyons
Douglas F Lyons
Vice President and Controller
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cc:
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Timothy E Stautberg, Senior Vice President and Chief Financial Officer |
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Deloitte & Touche LLP |