Scripps agrees to sell WRTV in Indianapolis to Circle City Broadcasting for $83 million
Rhea-AI Summary
The E.W. Scripps Company (NASDAQ: SSP) agreed to sell its Indianapolis ABC affiliate WRTV for $83 million to Circle City Broadcasting, a private company led by DuJuan McCoy. The deal will close after regulatory and customary approvals. Scripps said the sale will help reduce debt and strengthen the durability of its local station portfolio. The announcement follows Scripps' September sale agreement for WFTX and a July station-swap with Gray Media that is under federal review.
Positive
- $83.0 million agreed sale price for WRTV
- Buyer operates WISH and WNDY in Indianapolis (local scale benefits)
- Scripps expects to reduce debt and improve station portfolio durability
Negative
- Transaction closing subject to regulatory and customary approvals
- Related Gray Media station-swap requires relief from ownership rules and is under federal review
News Market Reaction 5 Alerts
On the day this news was published, SSP gained 2.92%, reflecting a moderate positive market reaction. Argus tracked a trough of -8.8% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $6M to the company's valuation, bringing the market cap to $224M at that time.
Data tracked by StockTitan Argus on the day of publication.
CINCINNATI, Oct. 28, 2025 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) has reached an agreement to sell WRTV, its local ABC-affiliated station in Indianapolis, to Circle City Broadcasting for
Circle City Broadcasting is a privately held digital and news media company that is majority owned, controlled and operated by veteran broadcaster DuJuan McCoy, the former owner of Bayou City Broadcasting. Circle City Broadcasting operates two television properties in the Indianapolis market – WISH, the local Indianapolis CW affiliate, and WNDY, a MyNetwork affiliate – as well as Circulus Digital Media.
The transaction will close following receipt of regulatory and other customary approvals.
“Circle City Broadcasting has an established presence in Indianapolis, led by media veterans who understand both the local community and the broadcast industry,” said Adam Symson, Scripps president and CEO. “This strategic transaction allows Circle City Broadcasting to expand its service to Indiana communities while enabling Scripps to reduce debt and improve the durability of its local station portfolio over the long term.”
“As a native of Indianapolis and career small business owner, I am pleased to be adding RTV6 to Circle City Broadcasting’s existing news brands, which will create value for both our company as well as the hometown community we serve,” said McCoy.
The sale of WRTV follows two other strategic local television station announcements from Scripps in recent months. In September, Scripps announced it had reached an agreement to sell WFTX in Ft. Myers/Naples to Sun Broadcasting. That sale is expected to close in the fourth quarter. In July, the company announced it had agreed to swap stations in five mid-sized and small markets with Gray Media. That transaction, which requires relief from current television station ownership rules, is now in front of federal regulators for review.
Investor contact: Carolyn Micheli, The E.W. Scripps Company, (513) 977-3732, carolyn.micheli@scripps.com
Media contact: Becca McCarter, The E.W. Scripps Company, (513) 410-2425, rebecca.mccarter@scripps.com
Forward-looking statements
This document contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “anticipate,” “intend,” “expect,” “estimate,” “could,” “should,” “outlook,” “guidance,” and similar references to future periods. Examples of forward-looking statements include, among others, statements the company makes regarding expected operating results and future financial condition. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of the industry and the economy, the company’s plans and strategies, anticipated events and trends, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, and changes in circumstance that are difficult to predict and many of which are outside of the company’s control. The company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: change in advertising demand, fragmentation of audiences, loss of affiliation agreements, loss of distribution revenue, increase in programming costs, changes in law and regulation, the company’s ability to identify and consummate strategic transactions, the controlled ownership structure of the company, and the company’s ability to manage its outstanding debt obligations. A detailed discussion of such risks and uncertainties is included in the company’s Form 10-K, on file with the SEC, in the section titled “Risk Factors.” Any forward-looking statement made in this document is based only on currently available information and speaks only as of the date on which it is made. The company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.
About Scripps
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, Bounce, Grit, ION Mystery, ION Plus and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to
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FAQ
How much will Scripps (NASDAQ: SSP) receive for WRTV in Indianapolis?
When will the WRTV sale for SSP close and what conditions apply?
How does the WRTV sale affect Scripps' debt and local station portfolio (SSP)?
Who is buying WRTV and do they own other Indianapolis stations?
Does Scripps have other recent station transactions affecting SSP investors?
