E.W. Scripps Merge With Journal Communications Will Create TV-Station Powerhouse

[dfergie]

Here's the latest installment in the media merger mania saga: Journal Communications shares are up 26.6% with E.W. Scripps +10.6% today after the companies unveiled a plan to merge TV operations and spin off their newspapers. The TV company will retain the E.W. Scripps name and be controlled by the Scripps family (which will retain control of the popular Scripps National Spelling Bee). The company will become the No. 5 independent TV group, reaching 18% of all households with stations in 27 markets including eight political battleground states — Arizona, Colorado, Florida, Michigan, Missouri, Nevada, Ohio and Wisconsin. Scripps will own affiliates for all of the Big Four networks, but will be especially important to ABC with 15 of its affiliates.

deadline.com

 

[jayn_j]

That was all over the news here in Milwaukee. A merger is being kind, as it looks like one of the larger independent news outlets just got sucked up. The Milwaukee Journal-Sentinal was respected around here for being thorough, fair and balanced. I don't see good coming from this.

 

[TNGTony]

EW Scripps would take over all the electronic media, the print media is going to be spun off into a separate entity. You'd think this was the biggest news ever around here!

The stat that got me was "gaining 30some-odd stations in eight markets" To me (who still thinks the 7-7-7 / "one per" rule should still apply) that is a ridiculous stat.