U.S. newspaper company E.W. Scripps Co. announced that it will delay its dividend and cut 400 newspaper positions, due to “continued weakness” in both newspaper and TV advertising sales, the Business Courier of Cincinnati reported Friday.

“During this period of uncertainty, we've made a series of decisions - including head-count reductions, suspension of the dividend and other expense reductions - that will keep our debt low and our balance sheet healthy,” Rich Boehne, Scripps president and CEO, said in a statement.

The Cincinnati, Ohio-based Scripps reported a US$16.8 million quarterly loss, in which revenue was down 9 percent to $230 million. In the third quarter of 2007, revenue was at $253 million. Also in 2007, the company reported a profit of $88 million, including $71 million of income from discontinued operations, the Business Courier reported.

This year's third quarter results also included a $22 million charge from Scripps's decision to spin its cable TV and interactive branch off into a new company, called Scripps Networks Inc., as well as a $24.9 million non-cash charge to write down the value of an investment it made in a newspaper partnership in Denver, Colorado, according to the Business Courier.