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Scripps to acquire McGraw-Hill Stations

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#1 OFFLINE   phrelin


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Posted 04 October 2011 - 04:17 PM

According to Broadcasting & Cable:

Scripps has agreed to acquire one of the choice station groups on the block, snagging the McGraw-Hill batch for $212 million in cash. The group includes ABC affiliates KMGH Denver, WRTV Indianapolis, KGTV San Diego and KERO Bakersfield, along with low power Azteca America affiliates in San Diego, Bakersfield, Denver, Fort Collins and Colorado Springs.

The Scripps management team said the McGraw-Hill stations were attractive because they're in growing markets, they strengthen Scripps' ABC portfolio, offer a similar news culture as the Scripps stations, and represent an avenue into the growing Spanish-language broadcasting business.

This will of course require FCC approval. It is significant only because in future retransmission fee negotiations, Scripps will control 11% of ABC TV households.

Here's what it could look like:

Posted Image

Edit: I guess I should note for the record that it was reported yesterday that Scripps bought 50% of UKTV.

Edited by phrelin, 04 October 2011 - 04:25 PM.

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#2 OFFLINE   dpeters11


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Posted 04 October 2011 - 07:54 PM

I had no idea they've owned our local ABC so long, but then it does make some sense.

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