The E.W. Scripps Company closed on its acquisition of WTVQ in Lexington, Kentucky last week, the broadcaster announced in a rare weekend press release.
The transaction was valued at $15.8 million; Morris Network was the seller of the station.
The acquisition gives Scripps a second station in the Lexington market, where it already owns WLEX (Channel 18, NBC). The company said the deal strengthens its local media presence in Central Kentucky by creating a duopoly between the market’s ABC and NBC affiliates.
The company did not immediately announce staffing, programming or operational changes tied to WTVQ following the close of the transaction.
Scripps said the acquisition of WTVQ (Channel 36, ABC) is part of a broader strategy to optimize its local television portfolio through selected station purchases, sales and swaps.
Scripps has already completed several station transactions this year. Over the past year, Scripps sold WFTX (Channel 36, Fox) in Fort Myers, Florida and WRTV (Channel 6, ABC) in Indianapolis, generating combined gross proceeds of $123 million.
Scripps also closed a station swap with Gray Media that expanded its presence in the Mountain West, and is in the process of re-acquiring two dozen Ion affiliates that were divested to a holding company several years ago.
Scripps is scheduled to disclose its second quarter financial earnings later this week.
