
CINCINNATI-The E.W. Scripps Company has announced that it has acquired the national broadcast network Ion Media for a price of $2.65 billion. The deal will combine Ion with Scripps' Katz networks and Newsy, creating a national television network business, according to Scripps announcement.
Berkshire Hathaway, which is owned by Warren Buffet, is supporting the deal by investing $600 million in Scripps.
Scripps is purchasing Ion from Black Diamond Capital Management. Ion Media is a national TV network offering primarily popular crime and justice procedural programming, with a reach of more than 100 million homes, per Scripps, with licensed TV stations in 62 markets that it owns as well as 124 affiliated TV stations. Ion elects government-mandated must-carry provisions for cable distribution rather than negotiating retransmission revenue.
With Katz, Newsy and Ion, Scripps says that its national networks business will reach nearly every American through free over-the-air broadcast, cable/satellite, OTT and digital distribution, with multiple advertising-supported programming streams.
The evolution of Scripps' national television network business, through the combination of Ion, the Katz networks and Newsy, repositions the company in the television landscape, said Adam Symson, Scripps president and CEO.
For more than 70 years, Scripps has been dedicated to local broadcasting and the markets we serve with an unparalleled commitment to quality objective journalism, community service and stewardship of the public's airwaves, continued Symson. Now, with this national broadcasting acquisition, Scripps will be the largest holder of broadcast spectrum, poised to take an even greater leadership role in the development of future business models that leverage ATSC 3.0 and spectrum to benefit the American people.
Wells Fargo analyst Steven Cahall told TVT's sister publication B+C that this is the deal of the year.
While weve historically liked Scripps management and assets, investors have found the portfolio too in between: not enough National (relative to the portfolio) to be a growthy stock thesis, and not enough Local scale to get the cash profile of its peers, Cahall said.
The Ion deal is undoubtedly transformative as it nearly doubles Scripps enterprise value and the mix of stations + a national net ties everything together like a media bow, he said. Bringing Berkshire Hathaway in is also about the best equity market seal of approval there is. We expect investor interest in Scripps to accelerate on the back of this deal and should push Scripps strong operating performance and proactive strategy into the limelight.
The Scripps-Ion deal is still subject to FCC approval. To meet requirements, Scripps has already said that it will divest 23 Ion stations, and that it has agreed to a transaction with a buyer, though no specific details were shared. Scripps expects the deal to close in the first quarter of 2021.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/07/2026
The National Film and Video Foundation (NFVF) is pleased to announce that the ca...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Manfrotto Introduces UNCOVER, the new premium camera bag collection for modern h...
01/07/2026
Blackmagic Design Powers Houston Tamil Sangam Literacy Competition
Brie Clayton July 1, 2026
0 Comments
Volunteers use ATEM Mini Pro, Blackmagic Desig...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
PlayBox Technology has published State of Broadcast Infrastructure 2026, an in-depth industry research report examining the technologies, operational challenges...
01/07/2026
LONDON, UK, 1 JULY Jigsaw24 has appointed Alan Henry as Head of Sales for Media and Entertainment, reinforcing its continued investment in helping broadcaster...
01/07/2026
Content Vault, the patent-pending secure content distribution platform protecting high-value media from disclosures, theft and unauthorised access, today announ...
01/07/2026
Bitcentral, Inc. a leading provider of enterprise software and digital media solutions for news, sports and entertainment broadcasters, as well as streaming pla...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
01/07/2026
Groundbreaking First Nations Screen Business Accelerator launched through nation...
01/07/2026
Chyron Launches the All-New Chyron Academy: A Reimagined, Hands-On Learning Expe...
01/07/2026
Amplium Captures Kawasaki Brave Thunders Game with Blackmagic URSA Cine Immersiv...
01/07/2026
Boris FX Optics Expands Plugin Support to Apple Photos, Capture One, and Affinit...
01/07/2026
Apple today introduced power-packed updates to Apple Creator Studio, a groundbre...
01/07/2026
Nectar360, the Retail Media, Loyalty and Insights business of the Sainsburys Gro...
01/07/2026
9.2 million streams on RT Player between 11 and 28 June
Reach of 2.9 million viewers during Group stages of FIFA World Cup on RT 2
23 million video views acr...
30/06/2026
Could your journalism reach an international stage?
Entries are now open for the Thomson Foundation's Young Journalist Award 2026, one of the most prestigi...
30/06/2026
As Brazil's only way for fans to see all 104 matches, YouTube channel proves the power of digital...
30/06/2026
Brings together saturation & lo-fi effects
Following on from the release of their Voxcraft vocal-processing plug-in, UJAM have announced the launch of Retro...
30/06/2026
New IR reverb engine, Juno-inspired chorus & more
The latest version of Rapid Flow's hardware-emulation synth plug-in expands on its predecessor with a ...
30/06/2026
Excels at heavy-handed VCA compression
For their latest release, Shy Audio have recreated the crunchy' sound of a rackmount compressor that found its w...
30/06/2026
Component scarcity drives cost increases
Shortly after Apple's CEO Tim Cook acknowledged that cost increases would soon be inevitable , the company hav...
30/06/2026
Statement regarding GetUp Save Our SBS' campaign
30 June, 2026
Media releases
The GetUp Save Our SBS' campaign is an independent initiative. SBS ...
30/06/2026
Hitachi and Bank Pekao S.A. have completed the installation of the first Hitachi...
30/06/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
MainStreaming, the award-winning and innovative Edge Video Delivery Network, today announced that it has been selected by ITV to support the delivery of ITVX, I...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
When Wheel of Fortune and Jeopardy! needed to upgrade their wireless communications system, they turned to Clear-Com FreeSpeak wireless for their iconic televi...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
30/06/2026
Other World Computing Launches New Atlas Core Line with 256GB CFExpress 4.0 Type...