Scripps adds eight TV stations to the fold
Details
Michelle Clancy
| 20 September 2019

The EW Scripps Company has closed its acquisition of eight television stations in seven markets as part of the divestment mandate relating to Nexstar Media Group’s transaction with Tribune Media.

The acquisition grows the Scripps local television station footprint to 60 stations in 42 markets, making it the nation’s fourth-largest independent broadcaster with a reach of 31% of US TV households.

Since 1 January, Scripps has added 27 television stations to its portfolio, and it now expects 2020 company free cash flow to be in the range of $225 million to $250 million, it said.

The stations joining Scripps’ television portfolio are WPIX, the CW affiliate in New York City; KASW, the CW affiliate in Phoenix which joins the existing Scripps ABC affiliate in the city; WSFL, the CW affiliate in Miami–Fort Lauderdale; KSTU, the Fox affiliate in Salt Lake City; WTKR, the CBS affiliate, and WGNT, the CW affiliate, in Norfolk, Virginia; WTVR, the CBS affiliate in Richmond, Virginia; WXMI, the Fox affiliate in Grand Rapids, Michigan.

Scripps has also granted Nexstar the option to buy back WPIX in New York City. The option is exercisable from 31 March, 2020, through the end of 2021.

The eight stations deepen the Scripps presence in Arizona, Florida, Michigan and New York. Scripps is adding its first stations in the No 1 ranked DMA of New York City and the states of Virginia and Utah. It will now operate nine markets with more than one station, including in its second-largest market, Phoenix.