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Scripps buying ION Media

Discussion pertaining to Detroit, Ann Arbor, Port Huron and SW Ontario
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The Constant Browser
Posts: 22
Joined: Mon Dec 06, 2004 2:32 am
Location: Metro Detroit

Scripps buying ION Media

Unread post by The Constant Browser »

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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Rate This
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Joined: Wed Jan 08, 2020 12:17 am

Re: Scripps buying ION Media

Unread post by Rate This »

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?
It’s another O&O so yes it will be divested.
Donald Trump… In your guts you know he’s nuts.
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Rate This
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Joined: Wed Jan 08, 2020 12:17 am

Re: Scripps buying ION Media

Unread post by Rate This »

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?
They own 71 stations and 23 of them will be divested. I originally read all of them... I stand corrected.
Donald Trump… In your guts you know he’s nuts.
MasterB
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Joined: Sun Apr 23, 2006 2:59 pm
Location: Kalamazoo

Re: Scripps buying ION Media

Unread post by MasterB »

I don't get why Scripps needs to sell WZPX since it isn't in the Top 4 in West Michigan.
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RingtailedFox
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Re: Scripps buying ION Media

Unread post by RingtailedFox »

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")...
~ The Legendary Raccoon-Fox has spoken!
YpsiGuy
Posts: 113
Joined: Mon Jun 03, 2019 4:00 pm

Re: Scripps buying ION Media

Unread post by YpsiGuy »

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.
SixPlusOne
Posts: 353
Joined: Fri Oct 08, 2010 10:03 am

Re: Scripps buying ION Media

Unread post by SixPlusOne »

Courtesy: Radio Television Business Report

Here Come The First Ion Media Spins

Includes WPXD-TV - Detroit


http://webcache.googleusercontent.com/s ... dia-spins/
YpsiGuy
Posts: 113
Joined: Mon Jun 03, 2019 4:00 pm

Re: Scripps buying ION Media

Unread post by YpsiGuy »

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.
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