2026-04-01 13:03:48
E.W. Scripps Completes Sale of WRTV to Circle City Broadcasting for $83 Million
Expected Stock impact: Slightly Positive
On March 31, 2026, The E.W. Scripps Company (NASDAQ: SSP) finalized the sale of its ABC-affiliated television station WRTV in Indianapolis to Circle City Broadcasting for a cash consideration of $83 million. This transaction is part of Scripps' strategy to streamline its operations and focus on core assets. The sale follows a similar divestiture of WFTX, a Fox-affiliated station in Fort Myers, Florida, which was sold for $40 million. Together, these transactions have generated a total of $123 million in cash proceeds. Scripps plans to utilize these funds primarily for debt reduction and to facilitate the acquisition of 23 ION-affiliated stations that were divested to INYO Broadcast Holdings as part of its acquisition of ION in January 2021. The current aggregate purchase price for the INYO stations is approximately $54 million, pending the timing of the deal's closure. Scripps is also pursuing a station swap agreement with Gray Television in five markets, which aims to enhance its competitive position in key Mountain West markets. This transaction is currently under review by federal regulators. The completion of the WRTV sale is expected to positively impact Scripps' financial position and operational efficiency, as it aligns with the company's long-term strategic goals.
