Company Press Release Follows. I’m talking with the Shopzilla management soon. More to come!

Los Angeles, CA, June 6, 2005 – The E. W. Scripps Company, moving to capitalize on the rapid growth and rising profitability of specialized Internet search businesses, today announced its intention to acquire Shopzilla, the Web’s most powerful and easiest to use comparison shopping search engine.

With the acquisition of Shopzilla, Scripps gains a profitable and growing Internet search business that helps shoppers instantly find virtually anything for sale on the Web at the best price. Using a proprietary, patent-pending algorithm called ShopRank, Shopzilla efficiently aggregates and organizes information on more than 30 million products from 55,000 retailers, worldwide. Shopzilla also operates BizRate, one of the most popular consumer feedback networks on the Web with about 1 million fresh consumer reviews of stores and products added each month.

Scripps will pay $525 million in cash for 100 percent of Shopzilla. Shopzilla shareholders will also receive the amount of Shopzilla’s net working capital at the time of closing, which is expected to be about $35 million. The transaction, pending regulatory and other approvals, is expected to be completed early in the third quarter of this year. The acquisition is expected to be slightly dilutive to earnings per share in 2005 and accretive to earnings in 2006.

Shopzilla will become a stand-alone operating unit of Scripps. Its financial results will be reported as a separate division of the company.

Founded in 1996, Shopzilla is a privately held company that is expected to generate $30 million to $33 million in segment profit on revenue of $130 million to $140 million for the full year 2005. Scripps defines segment profit as earnings before interest, taxes, depreciation and amortization, and also excludes investment results and unusual items.

The majority of Shopzilla’s revenue is derived from referral fees paid by participating online retailers. A fee is collected by Shopzilla when a consumer is directed to a retailer’s online store. Shopzilla also powers shopping search for many of the Web’s largest consumer sites including AOL, Lycos, Time Warner’s RoadRunner and many others.

Scripps will finance the transaction using a combination of borrowing under the company’s commercial paper program and the sale of previously registered debt securities. The transaction is expected to have no effect on the company’s debt ratings.

“Shopzilla is a significant Internet play for Scripps,” said Kenneth W. Lowe, president and chief executive officer for Scripps. “In many ways, like our other media businesses, Shopzilla is a content company. By organizing shopping information so that consumers can buy almost any product from a wide variety of merchants, the Shopzilla team has taken commerce and content and melded the two together to produce an extremely compelling value proposition to consumers and merchants alike. As more consumers become aware of this service, we’re betting that Shopzilla will become the way that people shop online.”

The addition of Shopzilla, which attracted 14 million unique visitors during April, represents a significant expansion of the Scripps Internet business. Scripps already is one of the top-50 drivers of Web traffic through its combination of national and local online brands. Scripps national television network Web sites include FoodNetwork.com, HGTV.com, DIYNetwork.com, fineliving.com, gactv.com and ShopatHomeTV.com. Scripps Internet brands also include United Media’s Comics.com and Web sites operated by the company’s local newspapers and broadcast television stations.

Scripps plans to use its growing portfolio of national, local and interactive businesses — and its experience in brand management and marketing — to help Shopzilla accelerate its growth.

“Shopzilla sits at the intersection of two of the fastest growing sectors online, paid search and e-commerce,” said Chuck Davis, president and chief executive officer for Shopzilla. “With the best technology focused on consumer needs, we’ve built a service that has the most products and merchants and does the heavy lifting so that consumers can save both time and money every time they visit. The by-product of this focus has been revenues, profits and growth rates that far outpace the industry.”

Shopzilla’s senior management team, including Davis and co-founders Farhad Mohit (chief product officer) and Henri Asseily (chief technology officer), will continue to guide the company after the acquisition by Scripps is completed. Other Shopzilla senior managers who will stay with the company include John Phelps, chief operating officer, and Brad Kates, chief financial officer.

“Online shopping already is a $100 billion-plus industry in the U.S. alone, and it’s still the early innings,” said Mohit. “With Scripps and its lifestyle brands, media assets and financial resources backing our team and vision for building the ultimate shopping service, we are assured of the chance to continue building Shopzilla into a site that consumers worldwide will choose every time they want to shop online.”