Scripps with Berkshire as a partner is buying ION Media.
https://ir.scripps.com/static-files/1be ... 364b48babb
They will be divesting the O&O Stations as a group to another buyer who will turn hem into affiliates so WPXD Ann Arbor will be spun off as part of the deal.
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- M.W.
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- M.W.
Scripps buying ION Media
- The Constant Browser
- Posts: 22
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- Location: Metro Detroit
Re: Scripps buying ION Media
It’s another O&O so yes it will be divested.MWmetalhead wrote: ↑Thu Sep 24, 2020 8:46 pm Why do I suspect the buyer for the 23 divestitures is not truly arms length?
That pro forma net leverage ratio of 5.2x ain't pretty.
Is WZPX in West Michigan another one of the 23 stations to be divested?
Donald Trump… In your guts you know he’s nuts.
Re: Scripps buying ION Media
They own 71 stations and 23 of them will be divested. I originally read all of them... I stand corrected.MWmetalhead wrote: ↑Thu Sep 24, 2020 10:08 pm I think only the O&O's that present cross ownership issues are being divested; ION has several dozen O&O stations across the country, do they not?
Donald Trump… In your guts you know he’s nuts.
Re: Scripps buying ION Media
I don't get why Scripps needs to sell WZPX since it isn't in the Top 4 in West Michigan.
Go Pistons, Let's Go Redwings.
- RingtailedFox
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Re: Scripps buying ION Media
If i remember, the FCC says there must be at least 8 different station owners to allow for any duopolies... i'd assume that is the bare minimum...
unless something strange and unusual happens, like a station gets bought to prevent it from going off the air (a "failing station waiver")...
unless something strange and unusual happens, like a station gets bought to prevent it from going off the air (a "failing station waiver")...
~ The Legendary Raccoon-Fox has spoken!
Re: Scripps buying ION Media
Scripps will off load all of its WMYD ATSC 1.0 content to WPXD with this agreement, IMO. That frees up WMYD completely for ATSC 3.0 broadcasts.
The spun off stations like WPXD are still to be part of the ION network and will run Scripps/Katz subchannels.
The spun off stations like WPXD are still to be part of the ION network and will run Scripps/Katz subchannels.
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Re: Scripps buying ION Media
Courtesy: Radio Television Business Report
Here Come The First Ion Media Spins
Includes WPXD-TV - Detroit
http://webcache.googleusercontent.com/s ... dia-spins/
Here Come The First Ion Media Spins
Includes WPXD-TV - Detroit
http://webcache.googleusercontent.com/s ... dia-spins/
Re: Scripps buying ION Media
I believe I read these stations will stay as ION affiliates and also air Scripps’s package of digital subchannels.
Since GRIT is a Scripps subchannel, I am betting it will leave WADL and move to WPXD. One article mentioned they will move their subchannels to the ION stations for cost savings.
With WXYZ and WPXD, Scripps now has the bandwidth to use WMYD as the ATSC 3.0 lighthouse.
Since GRIT is a Scripps subchannel, I am betting it will leave WADL and move to WPXD. One article mentioned they will move their subchannels to the ION stations for cost savings.
With WXYZ and WPXD, Scripps now has the bandwidth to use WMYD as the ATSC 3.0 lighthouse.