E.W. Scripps sells WRTV to Circle City Broadcasting for $83 million, enhancing local media presence in Indianapolis.
Quiver AI Summary
The E.W. Scripps Company has announced the sale of its ABC-affiliated station WRTV in Indianapolis to Circle City Broadcasting for $83 million. Circle City, led by broadcaster DuJuan McCoy, already operates two other local stations and aims to enhance its service in Indiana with this acquisition. The deal, which will finalize upon receiving necessary regulatory approvals, enables Scripps to reduce its debt and strengthen its local station portfolio. This move is part of a larger strategy, as Scripps has been engaged in other station transactions recently.
Potential Positives
- The E.W. Scripps Company is selling WRTV for $83 million, generating significant cash inflow that can be used to reduce debt.
- This sale allows Scripps to streamline its local station portfolio, improving its long-term operational durability in the broadcasting industry.
- The transaction signifies Scripps' strategic focus on enhancing local community services through partnerships with established local broadcasters like Circle City Broadcasting.
- The sale follows a pattern of strategic divestments and swaps that may position Scripps for better market adjustments and operational efficiencies moving forward.
Potential Negatives
- The sale of WRTV indicates a continued divestment strategy, which may raise concerns about the company's long-term growth prospects and competitive position in the local broadcasting market.
- By selling multiple local stations in a short period, the company may be perceived as struggling to maintain its market presence and address debt obligations effectively.
- The need for regulatory approval for the station swap with Gray Media may introduce uncertainty or delays that could impact Scripps' operational plans.
FAQ
What is the recent sale made by The E.W. Scripps Company?
The E.W. Scripps Company is selling WRTV, its ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million.
Who is the buyer of WRTV?
WRTV is being purchased by Circle City Broadcasting, a media company operated by DuJuan McCoy.
What are the implications of this sale for Scripps?
This sale allows Scripps to reduce debt and improve the durability of its local station portfolio.
When is the sale of WRTV expected to close?
The transaction will close following regulatory and customary approvals, though a specific date is not mentioned.
What other transactions has Scripps announced recently?
Scripps has also announced the sale of WFTX in Ft. Myers/Naples and a station swap with Gray Media.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SSP Hedge Fund Activity
We have seen 63 institutional investors add shares of $SSP stock to their portfolio, and 68 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SCHONFELD STRATEGIC ADVISORS LLC added 1,803,920 shares (+inf%) to their portfolio in Q2 2025, for an estimated $5,303,524
- MILLENNIUM MANAGEMENT LLC removed 1,386,562 shares (-90.7%) from their portfolio in Q2 2025, for an estimated $4,076,492
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 908,733 shares (+47.2%) to their portfolio in Q2 2025, for an estimated $2,671,675
- ASSENAGON ASSET MANAGEMENT S.A. removed 623,899 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $1,534,791
- MARSHALL WACE, LLP removed 494,700 shares (-51.5%) from their portfolio in Q2 2025, for an estimated $1,454,418
- GOLDMAN SACHS GROUP INC removed 477,085 shares (-35.0%) from their portfolio in Q2 2025, for an estimated $1,402,629
- VERITION FUND MANAGEMENT LLC added 431,351 shares (+77.0%) to their portfolio in Q2 2025, for an estimated $1,268,171
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CINCINNATI, Oct. 28, 2025 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) has reached an agreement to sell WRTV, its local ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million.
  Circle City Broadcasting is a privately held digital and news media company that is majority owned, controlled and operated by veteran broadcaster DuJuan McCoy, the former owner of Bayou City Broadcasting. Circle City Broadcasting operates two television properties in the Indianapolis market – WISH, the local Indianapolis CW affiliate, and WNDY, a MyNetwork affiliate – as well as Circulus Digital Media.
  
  
  The transaction will close following receipt of regulatory and other customary approvals.
 
“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. “This strategic transaction allows Circle City Broadcasting to expand its service to Indiana communities while enabling Scripps to reduce debt and improve the durability of its local station portfolio over the long term.”
“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.
  The sale of WRTV follows two other strategic local television station announcements from Scripps in recent months. In September, Scripps announced it had reached an agreement
  
   to sell WFTX in Ft. Myers/Naples to Sun Broadcasting
  
  . That sale is expected to close in the fourth quarter. In July, the company announced it had agreed
  
   to swap stations in five mid-sized and small markets with Gray Media
  
  . That transaction, which requires relief from current television station ownership rules, is now in front of federal regulators for review.
  
  
  
   Investor contact:
  
  Carolyn Micheli, The E.W. Scripps Company, (513) 977-3732,
  
   [email protected]
  
  
  
   Media contact:
  
  Becca McCarter, The E.W. Scripps Company, (513) 410-2425,
  
   
    [email protected]
   
  
  
 
  
   Forward-looking statements
  
  
  
   This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company’s plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company’s control. The company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company’s ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company’s ability to manage its outstanding debt obligations. A detailed discussion of such risks and uncertainties is included in the company’s Form 10-K, on file with the SEC, in the section titled “Risk Factors.”
  
  
   Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
  
 
  
   About Scripps
  
  
  
   The E.W. Scripps Company
  
  (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: “Give light and the people will find their own way.”
 
| Scripps in the news | Scripps press releases | 
 
         
       
       
    