Scripps completes sale of WRTV to Circle City Broadcasting for $83M

The E.W. Scripps Co. has completed the sale of WRTV, its ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million.

WRTV staff laid off following Circle City Broadcasting acquisition

The company said the transaction closed March 31 and follows the recent sale of WFTX, its Fox-affiliated station in Fort Myers, Florida, for $40 million. Combined, the two deals generated $123 million in cash proceeds.

Scripps said the proceeds will be used to reduce debt and support the planned purchase of 23 ION-affiliated stations from INYO Broadcast Holdings. The acquisition, valued at about $54 million, remains pending and is tied to regulatory requirements stemming from Scripps’ 2021 acquisition of ION Media.

The company said it may seek waivers from the Federal Communications Commission if ownership rules remain in effect. It added that acquiring the INYO stations would be accretive to its Scripps Networks division and support development of local programming.

Circle City Broadcasting is a privately held media company majority owned by DuJuan McCoy. The company already operates WISH, a CW affiliate, and WNDY, a MyNetwork affiliate, in the Indianapolis market, along with Circulus Digital Media.

“Circle City Broadcasting has an established presence in Indianapolis, led by media veterans who understand both the local community and the broadcast industry,” said Adam Symson, Scripps president and CEO.

“As a native of Indianapolis and career small business owner, I am pleased to be adding RTV6 to Circle City Broadcasting’s existing news brands, which will create value for both our company as well as the hometown community we serve,” said McCoy.

Scripps also said its planned station swap with Gray Media in five markets remains under review by federal regulators and would require relief from current ownership rules.

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