Exhibit 99

PRESS RELEASE

Scripps Networks Interactive reports double-digit revenue growth for first

quarter financial results

For immediate release

May 5, 2011

KNOXVILLE, Tenn. – Scripps Networks Interactive Inc. (NYSE: SNI) today reported operating results for the first quarter 2011.

Consolidated revenues for the quarter increased 14 percent to $536 million from the prior-year period. Results for the three-month period ended March 31 reflect strong advertising revenue of $324 million, up 12 percent, and affiliate fee revenue of $145 million, up 6.3 percent year-over-year. The growth was driven by strong performance from the company’s Lifestyle Media business segment, which includes HGTV, Food Network and Travel Channel.

Included in consolidated results was a 47 percent increase in revenues to $55.1 million from the company’s Interactive Services segment, which includes Shopzilla’s shopping-related websites. The company announced last week that it has entered into an agreement to sell Shopzilla.

Consolidated expenses for the quarter increased 1.6 percent from the prior-year period to $299 million. Included in first quarter 2010 consolidated expenses were:

Excluding prior-year adjustments, consolidated expenses increased 12 percent in the first quarter of 2011. The increase was driven primarily by higher personnel costs in both of the company’s business segments as it staffed positions held vacant since the economic downturn and increased compensation for 2011.

Total segment profit increased 35 percent to $237 million. Excluding the impact of the items noted above, segment profit increased 18 percent from the first quarter of 2010. (See note 2 for a definition of segment profit).

In the first quarter of 2011, income attributable to noncontrolling interests increased to $44.8 million from $23.3 million in the first quarter of 2010. Improved results at the Food Network and Travel Channel contributed to the increase.

Also, in the first quarter of 2011, the minority partner in the Food Network partnership funded a capital contribution which retroactively increased its minority interest to 31 percent. As a result of the contribution, income attributable to noncontrolling interest was adjusted $8.0 million to recover amounts attributed to Scripps Networks Interactive in the fourth quarter 2010. Additionally, with the capital contribution, the noncontrolling partner will receive its 31 percent proportional share of the Food Network partnership income for subsequent periods (please refer to updated 2011 guidance provided later in this press release).

First quarter net income attributable to Scripps Networks Interactive was $101 million, or $0.59 per share, compared with $72.5 million, or $0.43 per share, in the first quarter 2010. Excluding the noncontrolling interest adjustment in 2011 and the Travel Channel integration and affiliate renewal adjustments noted in 2010, first quarter 2011 net income attributable to Scripps Networks Interactive was $0.62 per share, compared with $0.50 per share in the prior-year period.

“Our strong advertising growth in the first quarter reflects the popularity of our networks and their tremendous value as marketing platforms for advertisers and distribution partners,” said Kenneth W. Lowe, chairman, president and chief executive officer for Scripps Networks Interactive. “We’re committed to building on the competitive leadership position we’ve established in the home, food and travel lifestyle content categories and are encouraged by the positive start we’ve had for the year. Trends continue to be positive which portends well for a very good 2011.”

Here are first-quarter results by operating segment:

Lifestyle Media

Lifestyle Media revenue was $474 million, up 11 percent. Advertising revenue was $322 million, up 12 percent. Affiliate fee revenue grew 6.0 percent to $144 million.

Total expenses decreased 5.5 percent to $229 million. Expenses in the first quarter of 2010 included:

Excluding these items, expenses increased 5.4 percent mainly driven by higher personnel costs previously noted. Programming expense of $89.6 million in the first quarter of 2011 was even with the prior-year first quarter.

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During the first quarter, Lifestyle Media segment profit was up 31 percent to $245 million compared with $186 million in the prior-year period. Lifestyle Media segment profit margin was 52 percent, up from 43 percent in the prior-year first quarter.

Revenue at Food Network was $174 million, up 15 percent. Food Network reaches about 100 million U.S. households, up about 1.0 percent from the end of the first quarter 2010.

Revenue at HGTV was $171 million, up 6.0 percent. HGTV now reaches about 100 million U.S. households, up 1.0 percent from the end of the first quarter 2010.

Revenue at Travel Channel increased 9.0 percent to $62.0 million. Travel Channel reaches 96 million U.S. households, about even with the end of the first quarter 2010.

Revenue at DIY Network was up 25 percent to $23.3 million. DIY can be seen in 54 million U.S. households, up approximately 600,000 households from a year ago.

Revenue at Cooking Channel was $15.3 million, up 11 percent. These results include a $3.1 million increase in amortization for distribution incentives related to the rebranding of the Fine Living Network to the Cooking Channel. Excluding this item, revenue at the Cooking Channel was $18.4 million, up 33 percent from the prior-year quarter. The company completed its rebranding of Fine Living Network to the Cooking Channel on May 31, 2010. Cooking Channel reaches approximately 58 million U.S. households versus 57 million that Fine Living reached during the same timeframe last year.

Revenue at Great American Country (GAC) increased 0.9 percent to $6.5 million. GAC can be seen in 60 million U.S. households compared with 59 million at the end of the first quarter 2010.

Revenue from the Lifestyle Media segment’s digital businesses, which includes its network-branded websites, was $19.4 million, up 7.4 percent.

Interactive Services

Revenue increased 47 percent to $55.1 million compared with the year-ago quarter.

Segment profit was $9.9 million compared with $4.9 million in the year-ago quarter.

As noted, SNI has entered into a definitive agreement to sell Shopzilla to Symphony Technology Group. The company expects the transaction to close on or around May 31, 2011 upon satisfaction of normal and customary closing conditions.

Updated 2011, Full-year Guidance

The company reaffirms its previously issued full-year 2011 guidance except for the following updates reflecting the sale of Shopzilla and the noncontrolling interest ownership change.

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Conference call

The senior management team of Scripps Networks Interactive will discuss the company’s first quarter results during a telephone conference call at 10 a.m. ET today. Scripps Networks Interactive will offer a live webcast of the conference call. To access the webcast, visit www.scrippsnetworksinteractive.com and follow the Investor Relations link at the top of the page. The webcast link can be found next to the microphone icon.

To access the conference call by telephone, dial 800-230-1085 (U.S.) or 612-332-0107 (international) approximately ten minutes before the start of the call. Callers will need the name of the call, “SNI First Quarter Earnings Call,” to be granted access. Callers also will be asked to provide their name and company affiliation. The media and general public are granted access to the conference call on a listen-only basis.

A replay line will be open from 12:30 p.m. ET May 5 until 11:59 p.m. ET May 19. The domestic number to access the replay is 800-475-6701 and the international number is 320-365-3844. The access code for both numbers is 198481. A replay of the conference call also will be available online. To access the audio replay, visit www.scrippsnetworksinteractive.com approximately four hours after the call, choose Investor Relations then follow the Audio Archives link on the left side of the page.

Forward-looking statements

This press release contains certain forward-looking statements related to the company’s businesses that are based on management’s current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. The company’s written policy on forward-looking statements can be found on page F-3 of its 2010 Form 10-K filed with the Securities and Exchange Commission.

The company undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date the statement is made.

About Scripps Networks Interactive

Scripps Networks Interactive is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online video, social media areas and e-commerce components on companion Web sites and broadband vertical channels. The company’s media portfolio includes Lifestyle Media, which is comprised of popular lifestyle television and Internet brands HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and country music network Great American Country; and Interactive Services, with leading online search and comparison shopping services BizRate, Beso, Tada and Shopzilla.

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Contact:

Mark Kroeger, Scripps Networks Interactive Inc., 865-560-5007

E-mail: mark.kroeger@scrippsnetworks.com

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Mike Gallentine, Scripps Networks Interactive Inc., 865-560-4473

E-mail: m.gallentine@scrippsnetworks.com

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SCRIPPS NETWORKS INTERACTIVE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Net income per share amounts may not foot since each is calculated independently.

See notes to results of operations.

SCRIPPS NETWORKS INTERACTIVE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

SCRIPPS NETWORKS INTERACTIVE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Notes to Results of Operations

1. OTHER CHARGES AND CREDITS

Food Network Partnership noncontrolling interest – During 2010, we completed the rebranding of the Fine Living Network (“FLN”) to the Cooking Channel and subsequently contributed the membership interest of the Cooking Channel to the Food Network Partnership (the “Partnership”) in August of 2010. In accordance with the terms of the Partnership agreement, the noncontrolling interest owner was required to make a pro-rata capital contribution to maintain its proportionate interest in the Partnership. At the close of our 2010 fiscal year, the noncontrolling owner had not made the required $52.8 million contribution, and its ownership interest in the Partnership was diluted from 31 percent to 25 percent. Accordingly, for the four months following the Cooking Channel contribution, profits were allocated to the noncontrolling owner at its reduced ownership percentage, reducing net income attributed to noncontrolling interest by $8.0 million in 2010.

In February 2011, the noncontrolling owner made the $52.8 million pro-rata contribution to the Partnership and its ownership interest was returned to the pre-dilution percentage as if this pro-rata contribution had been made as of the date of the Cooking Channel contribution. The retroactive impact from restoring the noncontrolling owner’s interest in the Partnership increased net income attributed to noncontrolling interest $8.0 million in the first quarter of 2011. Net income attributable to SNI was decreased $4.7 million, $.03 per share.

Travel Channel and other costs - Operating results in the first quarter of 2010 include $15.5 million of costs incurred related to the Travel Channel integration. Operating results in 2010 also include $11.0 million of marketing and legal expenses incurred to support the company’s affiliate agreement renewal negotiations for Food Network and HGTV. These items reduced net income attributable to SNI $12.1 million, $.07 per share.

2. SEGMENT INFORMATION

We determine our business segments based upon our management and internal reporting structure. Our reportable segments are strategic businesses that offer different products and services.

Lifestyle Media includes our national television networks, HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country (“GAC”). Lifestyle Media also includes Web sites that are associated with the aforementioned television brands and other Internet-based businesses, such as HGTVPro.com and FrontDoor.com, serving food, home and travel related categories. The Food Network and Cooking Channel are included in the Food Network Partnership of which we own approximately 69%. We also own 65% of Travel Channel. Each of our networks is distributed by cable and satellite distributors and telecommunication service providers.

Interactive Services includes our online comparison shopping service, Shopzilla, and its related online comparison shopping brands, BizRate, Beso and Tada. Our product comparison shopping services help consumers find products offered for sale on the Web by online retailers. Shopzilla also operates a Web-based consumer feedback network within the BizRate brand that collects consumer reviews of stores and products.

Our chief operating decision maker evaluates the operating performance of the reportable segments and makes decisions about the allocation of resources to the reportable segments using a measure we call segment profit. Segment profit excludes interest, income taxes, depreciation and amortization, divested operating units, restructuring activities, investment results and certain other items that are included in net income determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Refer to Note 4—Non-GAAP Financial Measures, for reconciliations to GAAP measures.

Items excluded from segment profit generally result from decisions made in prior periods or from decisions made by corporate executives rather than the managers of the business segments. Depreciation and amortization charges are the result of decisions made in prior periods regarding the allocation of resources and are therefore excluded from the measure. Financing, tax structure and divestiture decisions are generally made by corporate executives. Excluding these items from our business segment performance measure enables us to evaluate business segment operating performance for the current period based upon current economic conditions and decisions made by the managers of those business segments in the current period.

Information regarding the operating performance of our business segments and a reconciliation to our results of operations is as follows:

During the second quarter of 2011, our Board of Directors approved the sale of our Shopzilla business and its related online comparison shopping brands. On April 28, 2011, we signed a definitive agreement to sell the business for consideration of approximately $165 million and anticipate the sale will result in a pre-tax loss of $45 million to $50 million in the second quarter of 2011. We expect the transaction to close on or around May 31, 2011 upon satisfaction of normal and customary closing conditions.

Corporate includes the operating results of the venture we formed with Chello Zone Media (“Chello”), operating results from the international licensing of our national networks’ programming, and the costs associated with our international expansion initiatives. The venture with Chello, of which we own 89%, was formed to launch new lifestyle-oriented channels in Europe, the Middle East and Africa.

Our continued investment in international expansion initiatives increased the segment loss at corporate by $1.9 million in the first quarter of 2011 and $1.8 million in the first quarter of 2010.

3. SUPPLEMENTAL FINANCIAL INFORMATION

Our Lifestyle Media division earns revenue primarily from the sale of advertising time on our national television networks, affiliate fees paid by cable and satellite television operators that carry our network programming, the licensing of its content to third parties, the licensing of its brands for consumer products such as books and kitchenware, and from the sale of advertising on our Lifestyle Media affiliated Web sites.

Supplemental information for Lifestyle Media is as follows:

4. NON-GAAP FINANCIAL MEASURES

In addition to the results prepared in accordance with GAAP provided in this release, the Company has presented segment profit. A reconciliation of segment profit to operating income determined in accordance with GAAP for each business segment is as follows:

The Company defines free cash flow as cash provided by operating activities less dividends paid to noncontrolling interests and acquisitions of property and equipment. The Company measures free cash flow as it believes it is an important indicator for management and investors as to the Company’s liquidity, including its ability to reduce debt, make strategic investments and return capital to shareholders. A reconciliation of free cash flow is as follows:

Since segment profit and free cash flow are non-GAAP measures, they should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance reported in accordance with GAAP.