Business
Scripps closes its acquisition of 15 television stations from Cordillera Communications
CINCINNATI, May 1, 2019 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has closed its acquisition of 15 television stations in 10 markets from
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[{"type":"text","content":"CINCINNATI, May 1, 2019 /PRNewswire/ -- The E.W. Scripps Company (NASDAQ: SSP) has closed its acquisition of 15 television stations in 10 markets from Cordillera Communications.\n\n \nThe acquisition grows the Scripps local television station footprint to 52 stations in 36 markets with a reach of nearly 21 percent of U.S. TV households.\nThe Cordillera stations diversify Scripps' affiliate relationships, adding more NBC and CBS stations to the company's strong ABC roster.\nThe stations joining Scripps' television portfolio today are:\nWLEX, the NBC affiliate in Lexington, Kentucky KOAA, the NBC affiliate in Colorado Springs, Colorado KATC, the ABC affiliate in Lafayette, Louisiana KSBY, the NBC affiliate in Santa Barbara-San Luis Obispo, California KRIS, the NBC affiliate, and KAJA, a Telemundo affiliate, in Corpus Christi, Texas KPAX and KAJJ, the CBS affiliates in Missoula, Montana KTVQ, the CBS affiliate in Billings, Montana KXLF and KBZK, the CBS affiliates in Butte-Bozeman, Montana KRTV, the CBS affiliate, and KTGF, the NBC affiliate, in Great Falls, Montana KTVH, the NBC affiliate, and KXLH, the CBS affiliate, in Helena, Montana\"This acquisition furthers Scripps' strategies to increase the financial durability and operating performance of our broadcast portfolio,\" said Brian Lawlor, president of Local Media. \"We welcome these stations' employees to the Scripps team and look forward to working together to continue our strong commitment to journalism and serving local communities.\"\nScripps also recently announced the acquisition of eight TV stations in seven markets from the Nexstar-Tribune merger divestitures. When that transaction is complete, Scripps will operate 60 television stations in 42 markets, making it the nation's fourth-largest broadcaster and reaching 30 percent of U.S. TV households.\nForward-looking statements\nThis document contains certain forward-looking statements related to the company's businesses that are based on management's current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. Such forward-looking statements are made as of the date of this document and should be...