Scripps Networks Interactive chairman and CEO Ken Lowe told
an audience at an industry conference Tuesday that he expects the programmer's
flagship Food Network could grow to $1 billion in revenue over the next few
years.
At the UBS Global Media and Communications Conference in New
York, Lowe said he would be "disappointed" if Food didn't top the $1 billion
mark in two to three years.
According to Scripps 2011 annual report, Food tallied about
$745 million in total revenue in 2011, up about 12.1% from the year before. In
the first nine months of 2012, the network reported revenue of about $616
million, up 13.8% from the prior year.
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