Sony Pixel Power calrec Sony

Scripps Purchases Ion Media for $2.65B

24/09/2020

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.
LINK: https://www.tvtechnology.com/news/scripps-purchases-ion-media-for-doll...
See more stories from tvtechnology

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

07/07/2026

DAS Disputes Wiegels 3.0 EAS Limitations

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

LiveU to Showcase Q Era Innovations at 2026 IBC Show

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

LucidLink Unifies Adobe Frame.io, Enterprise Storage

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

ARRI Introduces ALEXA 35 Live Xtreme Camera

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Riedel and ARRI Bring Cinematic Live Production to the Eu...

Riedel Communications and ARRI played a key role in one of the most technically ambitious Eurovision Song Contest productions to date. For the first time in the...

07/07/2026

Berklee Valencia Honors Eric Whitacre at the 2026 Commencement Ceremony

Berklee Valencia Honors Eric Whitacre at the 2026 Commencement Ceremony The Grammy-winning composer was celebrated alongside this years cohort of masters degr...

07/07/2026

Disagreements Abound Over the Adequacy of C-Band Replacements

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Cameras Become More Connected to Production Workflows

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

NFL on TV: Time to Move the Regulatory Goal Posts?

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Building a Future-Ready Facility for Tomorrow's Broadcasters

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Rewriting the Control Room: How Broadcasters Are Going Remote

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Fincons Group appoints Andrea Fravega as Global BU Media...

The appointment will drive growth and innovation across the Media Business Unit Fincons Group, a leading IT business consultancy and systems integrator company...

07/07/2026

Big Blue Marble debuts next-gen ultra low latency MoQ str...

International broadcast and streaming expert Big Blue Marble has announced a multi-month Proof of Concept (PoC) for Media over QUIC (MoQ) during a major interna...

07/07/2026

Leader provides Test and Measurement for global broadcast...

Test & measurement innovator, Leader Electronics of Europe, is proud to announce that two of its leading products, the PHABRIX Qx rasterizer and LeaderPhabrix L...

07/07/2026

Clear-Com Powers Ross Production Services Mobile Producti...

Clear-Com announced that Ross Production Services (RPS), a leading provider of mobile production solutions for live events and broadcasts, has standardized on ...

07/07/2026

Q Era Innovations Take Center Stage for LiveU at IBC2026

LiveU redefined live newsgathering with the invention of cellular bonding. At IBC2026, Stand 7.C24, the company will show how that foundation is evolving into t...

07/07/2026

Camera to Cloud Meets Camera to Timeline LucidLink Unifi...

LucidLink, a leader in cloud-based file services for content creators, today announced an enhanced workflow integration between LucidLink and Adobe Frame.io tha...

07/07/2026

Comcast's Sky to Acquire ITV Media and Entertainment

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

Digital Alert Systems Details ATSC 3.0 EAS Capabilities to FCC

Share Copy link Facebook X Linkedin Bluesky Email...

07/07/2026

New appointments to Screen Australia board

New appointments to Screen Australia board 7 July 2026 The Albanese Labor Government has made new appointments to the Screen Australia board. Dr Tania Chamber...

07/07/2026

The right team. The right time.' How The Killings at Parrish Station stuck to their creative guns.

The right team. The right time.' How The Killings at Parrish Station stuck t...

07/07/2026

Patrick Kielty in The Late Late Chair until 2028

To Whom It Concerns RT today confirmed that Patrick Kielty is to extend his contract as host of The Late Late Show. Last season, the world's longest-runn...

07/07/2026

AI Innovators Adopt NVIDIA Vera - Why Max Single-Threaded CPU at Scale Matters

Max single-threaded CPUs at scale are a new category of CPUs built for the agentic AI era. Across the creation and deployment of an agentic system, the CPU is...

07/07/2026

July 06, 2026

Scripps Research scientists train the immune system to make antibodies against numerous HIV strains Preclinical findings mark progress toward a long-sought vacc...

06/07/2026

Inside OneSoccer's FIFA World Cup Ops: Canada's Soccer Network Goes Behind the Scenes for CanMNT's Historic Moment

Long-developed relationships and informal access, three production models, and c...

06/07/2026

Lumine Group Acquires Imagine Communications, Continues To Build Portfolio of Media Businesses

The deal follows Lumine's recent acquisition of Synamedia's video-networ...

06/07/2026

SVG All-Stars: Stuart Mitchell, Senior Coordinating Producer, Spectrum SportsNet LA

This former SportsCenter producer is shaping local-team studio coverage to surro...

06/07/2026

Case Study: How IMS Productions and FOX Sports Scaled Coverage of the 109th Indianapolis 500

IMS Productions and FOX Sports deployed more than 100 cameras, 32 onboard feeds,...

06/07/2026

Lumine Group Completes Acquisition of Synamedias Video Network Business

Lumine Group Inc. has announced the completion of its acquisition of the Video Network Business from Synamedia. The business will operate as a standalone compan...

06/07/2026

NASCAR and Motorsport Network Announce Content and Commercial Partnership

NASCAR has announced a content and commercial partnership with Motorsport Network, a motorsports and automotive media platform, to distribute NASCAR original co...

06/07/2026

Versant To Acquire Full Swing for Approximately $530 Million

Versant Media Group has announced a definitive agreement to acquire Full Swing, a sports technology company, from Bruin Capital and a group of minority investor...

06/07/2026

DAZN Secures Global Rights to 3ICE Hockey

DAZN has announced global broadcast rights to 3ICE, a professional hockey format featuring three skaters and a goalkeeper per side, with no power plays or offsi...

06/07/2026

Synth Anthology 5 From UVI

Bundle gains 100 new synths & more Synth Anthology 5 the largest and most feature-packed edition of UVI's hardware synth emulation bundle, bringing toge...

06/07/2026

MOTU 16A, 848 & 10pre gain Milan certification

Available now via free firmware update MOTU have just announced that three of their popular audio interfaces now boast official Milan Certification. The 16A...

06/07/2026

Rohde & Schwarz completes Hunter Preliminary Design Review for the Integrated Communications System

Rohde & Schwarz completes Hunter Preliminary Design Review for the Integrated Co...

06/07/2026

The R&S IMAGER from Rohde & Schwarz uses millimeter wave imaging to inspect the quality of packaged goods in real time

The R&S IMAGER from Rohde & Schwarz uses millimeter wave imaging to inspect the ...

06/07/2026

INVITATION FOR SOUTH AFRICAN FILMMAKERS TO SUBMIT FILMS FOR THE 99TH ANNUAL ACADEMY AWARDS (OSCARS) INTERNATIONAL FEATURE FILM CATEGORY

The National Film and Video Foundation (NFVF), an agency of the Department of Sp...

06/07/2026

Digital Domain Appoints Industry Veteran Patrick Davenport as Executive Vice President, Operations

Digital Domain Appoints Industry Veteran Patrick Davenport as Executive Vice Pre...

06/07/2026

Gravity Media USA appoints Brittney Boston as Head of Business Development

Gravity Media USA appoints Brittney Boston as Head of Business Development Brie Clayton July 6, 2026 0 Comments The strategic new appointment supports...

06/07/2026

Remote Editing Without Cloud Storage in Resolve

Remote Editing Without Cloud Storage in Resolve Michael Cioni July 6, 2026 0 Comments This is a step-by-step guide that demonstrates how to setup your...

06/07/2026

Automatic Caption Translation in Adobe Premiere Pro

Automatic Caption Translation in Adobe Premiere Pro Colin Smith July 6, 2026 0 Comments Here I showcase the innovative automatic caption translation f...

06/07/2026

Flavor's FirstEver Managing Director Neal Cohen Retires; Longstanding Executive Producer Kate Smith Rises to Lead the Studio

Flavor's First Ever Managing Director Neal Cohen Retires; Longstanding Execu...

06/07/2026

How Adam Rosenwach Pivoted from Music to Medtech Without Missing a Beat

How Adam Rosenwach Pivoted from Music to Medtech Without Missing a Beat What do the rehearsal room and the boardroom have in common? More than you might think...

06/07/2026

Zhongyi Optics unveils the Dreamy Zone T1 FF Cine Lens Series on Indiegogo with the first drop

Zhongyi Optics unveils the Dreamy Zone T1 FF Cine Lens Series on Indiegogo with ...

06/07/2026

NVIDIA and Hugging Face Bring New Models and Frameworks to LeRobot for the Open Robotics Community

Open source AI has shown how quickly developers can innovate when models, data a...

06/07/2026

Techtel debuts insyght: making ST 2110 media discovery easy

Techtel debuts insyght: making ST 2110 media discovery easy intellisphereinsyght2026 6 July Written By Suzanne Costello Sydney, Australia - 06 July 2026 T...