832428--3/5/2010--SCRIPPS_E_W_CO

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We are undergoing a strategic transformation in our newspaper business that if unsuccessful could have a material adverse financial impact. The model for profitably operating a newspaper may change more rapidly than our ability to adjust. A significant portion of our operating cost for the newspaper segment is newsprint, so an increase in price may adversely affect our operating results. Increased programming costs could adversely affect our operating results. The loss of affiliation agreements could adversely affect our television stations operating results. Our television stations may be at a competitive disadvantage if we fail to secure or maintain carriage of our stations signals over cable and/or direct broadcast satellite systems. If we cannot renew our FCC broadcast licenses, our broadcast operations will be impaired. Revised government regulations could adversely affect our operating results. Macro economic factors may impede access to or increase the cost of financing our operations. Sustained increases in costs of employee health and welfare benefits may reduce our profitability and our pension plan obligations are currently unfunded, and we may have to make significant cash contributions to our plans, which could reduce the cash available for our business. The Edward W. Scripps Trust principally holds our Common Voting shares; such ownership could inhibit potential changes of control.

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832428--3/5/2010--SCRIPPS_E_W_CO_/DE