Broadcasting
E.W. Scripps' television division currently owns nineteen television stations in fourteen markets.
Scripps also previously owned the Shop at Home home-shopping television network, which in turn owned five television stations. On May 22, 2006, Scripps announced that it was to cease operations of the network and intended to sell each of Shop at Home's five owned and operated television stations. Jewelry Television eventually acquired Shop at Home, but Scripps still intended to sell its affiliated stations. On September 26, 2006, Scripps announced that it was selling its Shop at Home TV stations to New York City-based Multicultural Television for $170 million.
On October 3, 2011, Scripps announced it was purchasing all seven television stations owned by The McGraw-Hill Companies for $212 million; the sale is a result of McGraw-Hill's decision to exit the broadcasting industry to focus on its other core properties, including its publishing unit. This deal was approved by the FTC on October 31 and the FCC on November 29. The deal was completed on December 30, 2011.
Read more about this topic: E. W. Scripps Company
Famous quotes containing the word broadcasting:
“We spend all day broadcasting on the radio and TV telling people back home what’s happening here. And we learn what’s happening here by spending all day monitoring the radio and TV broadcasts from back home.”
—P.J. (Patrick Jake)