Key Points
- E. W. Scripps Company agreed to sell Court TV to Jellysmack, placing it under common ownership with Law&Crime Network.
- The deal supports Scripps’ effort to reduce debt tied to its Ion and Katz acquisitions; financial terms were not disclosed and Court TV will remain a separate brand.
- Scripps will refocus on other multicast networks, including Scripps News, Laff and Bounce TV, which the company continues to shop.
The E. W. Scripps Company has agreed to sell its multicast network Court TV to Jellysmack, putting the channel under common ownership with the Law&Crime Network, The Desk has learned.
The decision comes as Scripps continues to explore selling off different parts of its business in order to draw down its sizable debt related to the acquisition of Ion Networks and Katz Networks several years ago. Scripps acquired the Court TV brand from Turner Broadcasting in 2019 and relaunched the channel as a multicast network that is available on broadcast TV, streaming platforms and cable.
“This move is consistent with the way Scripps has operated for nearly a century and a half: We identify where consumer behavior is headed, build and grow businesses that meet those evolving interests and make strategic decisions about how we unlock their greatest value – whether in our portfolio or through exits that strengthen our balance sheet and position us for the future,” Adam Symson, the CEO of Scripps, said in a statement on Monday.
Symson said the Court TV brand and associated content library will complement that of Law&Crime Network, which is available across as many platforms as Court TV. Financial terms of the deal were not disclosed, but executives said Court TV and Law&Crime will remain distinctive, separate brands.
“There is no better partner than Law&Crime to continue the distinctive Court TV brand and network,” Dan Abrams, the founder of Law&Crime Network, said on Monday. “I began my career at Court TV, and we look forward to continuing its important tradition of giving viewers an inside look at some of the most fascinating and important trials. Court TV will become our hub for all trial content and coverage as its own standalone channel and brand.”
The separation will allow Scripps to focus on its other multicast networks, including Scripps News, Laff and Bounce TV, the latter of which it is still actively trying to sell.
