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Scripps buying ION Media
- The Constant Browser
- Posts: 22
- Joined: Mon Dec 06, 2004 2:32 am
- Location: Metro Detroit
Scripps buying ION Media
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.
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.
- MWmetalhead
- Site Admin
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- Joined: Sun Oct 31, 2004 11:23 am
Re: Scripps buying ION Media
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?
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?
Morgan Wallen is a piece of garbage.
Re: Scripps buying ION Media
It’s another O&O so yes it will be divested.MWmetalhead wrote: ↑Thu Sep 24, 2020 8:46 pmWhy 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?
- MWmetalhead
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Re: Scripps buying ION Media
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?
Morgan Wallen is a piece of garbage.
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 pmI 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?
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.
- MWmetalhead
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Re: Scripps buying ION Media
Perhaps it doesn't need to be. WXMI is top 4, but you're right, WZPX definitely is not.
Are multiple duopolies permitted in a market that is of #40-ish rank? (The existing duopoly, of course, is WOOD-TV and WOTV.)
Are multiple duopolies permitted in a market that is of #40-ish rank? (The existing duopoly, of course, is WOOD-TV and WOTV.)
Morgan Wallen is a piece of garbage.
- RingtailedFox
- Posts: 229
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- Location: Windsor, Ontario
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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/
- MWmetalhead
- Site Admin
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Re: Scripps buying ION Media
Good info; thank you.
I see WZPX in Grand Rapids is on the spin-off list, too.
I see WZPX in Grand Rapids is on the spin-off list, too.
Morgan Wallen is a piece of garbage.
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.