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WRTV sold with eight other TV stations for $212M

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Television station and newspaper owner The E.W. Scripps Co. said Monday that it will pay $212 million in cash for nine TV stations, including WRTV in Indianapolis, owned by The McGraw-Hill Cos.

Four stations included in the deal are ABC network affiliates: WRTV, KMGH in Denver, KGTV in San Diego and KERO in Bakersfield, Calif. The rest of the stations in the deal are low-power affiliates of Spanish-language network Azteca America in California and Colorado.

With the addition, Scripps will own 10 ABC affiliates and a total of 19 TV stations.

Scripps, which is based in Cincinnati, said the stations had $97 million in revenue last year. They employ 460 people.

New York-based McGraw-Hill said in September that it plans to split into two publicly traded companies, one focused on education and the other centered on financial markets and services, including credit ratings and research firm Standard & Poor's.

IBJ reported earlier this year that McGraw-Hill was shopping for a buyer for the nine stations.

WRTV has struggled in the ratings game against local competitors in recent years and hired a new general manager, news director and sales manager earlier this year.

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  • the price was right
    Four abc affiliates in decent sized markets for $212 million sounds like a good deal. The value of local tv seems to have dropped in the last few years. Wonder if the new owners will put any money in to upgade WRTV.

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  1. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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