It was back in 2014 that Scripps announced it was merging with Journal Communications, snatching up 34 radio stations, TV stations, and newspapers. In January, Scripps announced it was planning to sell all of its radio stations so the company could focus on television. (The newspaper division was spun-off into The Journal Media Group.)
After moving eight stations to Lotus (earlier this month), five to Griffin Communications (in June), and two to Good Karma (in July), Scripps announced Wednesday that the remaining 19 stations would be sold to Birmingham-based SummitMedia for $47 million.
SummitMedia will be getting:
- KFDI (101.3 FM), KICT (95.1 FM), KFXJ (104.5 FM), KYQQ (106.5 FM), and KFTI (1070 AM) in Wichita.
- KTTS (94.7 FM), KSPW (96.5 FM), KSGF (104.1 FM and 1260 AM), and KRVI (106.7 FM) in Springfield, Missouri.
- KEZO (92.3 FM), KSRZ (104.5 FM), KQCH (94.1 FM), KKCD (105.9 FM), and ESPN station KXSP (590 AM) in Omaha.
- WWST (102.1 FM), WCYQ (100.3 FM), WKHT (104.5 FM), and WNOX (931. FM) in Knoxville.
Scripps Vice President of Radio Steve Wexler tells Radio Ink he’s very focused on the successful completion of the sales process and couldn’t be more pleased with the outcome for Scripps employees. “I’m so proud of their patience and support and their continued outstanding work through the process. For me, I’ll get us to the finish line and maybe ‘catch my breath’ before jumping back in. We’ll see how that goes.”
The four transactions to sell Scripps’ radio stations total $83.5 million.
The SummitMedia sale is expected to close in the fourth quarter.