The E. W. Scripps Company has reached a deal with Morris Network to acquire the broadcaster’s ABC affiliate in Lexington, the companies announced on Wednesday.
The deal will see Scripps pay nearly $16 million for WTVQ (Channel 36), which also serves as the market’s distributor of MyNetwork programming on a secondary digital sub-channel.
Scripps says the agreement will create a market duopoly with WLEX (Channel 18), the area’s local NBC affiliate.
“Whether through swaps, divestitures or strategic acquisitions like this, Scripps is focused on seeking out the strongest opportunities to grow,” Adam Symson, the CEO of Scripps, said in a statement. “This acquisition would give us the scale and depth in Lexington to strengthen our financial durability and assign more reporters to neighborhoods throughout the area, enhancing our public service journalism and creating greater community connection across the market.”
The deal requires approval from the Federal Communications Commission (FCC), though it should run into few regulatory roadblocks, since Scripps already owns a local TV station in the same market — which means the acquisition of WTVQ doesn’t put Scripps over the limit of TV stations that a broadcaster may directly own at any given time.
While Scripps and Morris await regulatory approval for the sale, Scripps will start operating WTVQ immediately through a local marketing agreement with Morris, the companies affirmed.
The purchase comes as Scripps makes strategic acquisitions and station swaps in other areas: The company recently announced a deal to re-acquire nearly two dozen Ion Television affiliates that were divested to Inyo Broadcast Holdings several years ago. Scripps also has a pending deal to sell WRTV (Channel 6, ABC) in Indianapolis to another company, and swap stations with Gray Media in markets where both broadcasters will create duopolies.
