Scripps completes sale of WFTX in Fort Myers-Naples to Sun Broadcasting

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) completed the sale of WFTX, its Fox-affiliated station in Fort Myers-Naples, Florida, to Sun Broadcasting for $40 million on March 2, 2026.

Scripps said it will use proceeds to pay down debt and strengthen its balance sheet. The transaction is part of a portfolio optimization that also includes the FCC-approved sale of WRTV Indianapolis for $83 million and a pending station swap with Gray Media under federal review.

Positive

• $40M sale of WFTX closed March 2, 2026
• Proceeds earmarked to pay down debt and strengthen balance sheet
• $83M WRTV sale has FCC approval and is expected to close soon

Negative

• Station swap with Gray Media requires regulatory relief and is under federal review

Argus Mar 2 session

-6.99% close to close Open Argus

Details

News Market Reaction – SSP

On Mar 2, the day this news came out, SSP closed 6.99% below the previous close.

Data tracked by StockTitan Argus for the Mar 2 session.

Key Figures

WFTX sale price: $40 million WRTV sale price: $83 million Markets in station swap: five markets +5 more

WFTX sale price

$40 million

Cash proceeds from sale to Sun Broadcasting

WRTV sale price

$83 million

Announced consideration for Indianapolis station sale

Markets in station swap

five markets

Planned station swap with Gray Media

Price move

12.47%

Pre-news 24h price change for SSP

52-week low

$1.36

Current price sits well above this level

52-week high

$4.98

Current price is below this recent peak

200-day MA

$3.18

SSP trading above long-term trend level

Expected WRTV proceeds

$83 million

FCC-approved sale expected to close in coming weeks

Historical Context

5 past events · Latest: Feb 25

5 events

1. Feb 25

   Q4 2025 earnings

   24h Move

   +1.6%

   Mixed quarter with loss but outlined multi-year EBITDA improvement plan.

2. Feb 25

   CEO contract extension

   24h Move

   +4.6%

   Extended CEO agreement and reiterated EBITDA growth transformation targets.

3. Feb 24

   Charitable giving report

   24h Move

   +0.6%

   Announced $11 million in 2025 charitable gifts, up 12% year over year.

4. Feb 18

   Sports sales hire

   24h Move

   +5.0%

   Appointed VP to connect advertisers with sports and entertainment portfolio.

5. Feb 11

   EBITDA plan launch

   24h Move

   -4.0%

   Launched enterprise transformation targeting $125–$150M EBITDA improvement by 2028.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

fcc approval, federal regulators

2 terms

fcc approval regulatory

"That sale has received FCC approval and is expected to close"

FCC approval is formal permission from the U.S. Federal Communications Commission to use radio spectrum, sell or operate communications equipment, or complete certain transactions that involve telecommunications rules. It matters to investors because it clears a legal hurdle—like a building permit—that lets a product be sold, a service launched, or a deal close; delays or denials can affect revenue, costs, and the timeline for expected returns.

federal regulators regulatory

"is now in front of federal regulators for review"

Federal regulators are government agencies that create and enforce national rules for industries like banking, securities, and healthcare. Think of them as referees and safety inspectors who approve products, monitor companies for fair play, and can issue fines or orders that change business plans; their decisions can alter a company’s revenue outlook, legal costs, or ability to sell products, which matters directly to investors’ risk and returns.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CINCINNATI, March 02, 2026 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) closed today on the sale of WFTX, its Fox-affiliated station in Fort Myers, Florida, to Sun Broadcasting for $40 million.

Scripps intends to use cash from the sale to pay down debt and strengthen its balance sheet, Scripps President and CEO Adam Symson said.

The completion of the WFTX sale is part of a series of recent transactions by Scripps to optimize its local television portfolio. In October, the company announced an agreement to sell WRTV, its ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million. That sale has received FCC approval and is expected to close in the coming weeks. Last July, Scripps 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

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 outlet Scripps News and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit 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 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: “Give light and the people will find their own way.” 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Scripps (SSP) announce about the WFTX sale on March 2, 2026?

Scripps completed the sale of WFTX for $40 million on March 2, 2026. According to the company, proceeds will be used to pay down debt and strengthen the balance sheet as part of portfolio optimization.

How will the $40 million WFTX sale affect Scripps (SSP) balance sheet and debt?

The sale proceeds are intended to reduce leverage and improve liquidity at Scripps. According to the company, cash from the WFTX sale will be used specifically to pay down debt and strengthen the balance sheet.

Is Scripps' sale of WRTV in Indianapolis complete and what is the price?

Scripps agreed to sell WRTV for $83 million, and that sale has FCC approval. According to the company, the WRTV transaction is expected to close in the coming weeks pending final steps.

What is the status of Scripps' station swap with Gray Media and investor impact?

The swap covering five markets requires relief from ownership rules and is under federal regulatory review. According to the company, the transaction remains subject to regulatory approval and could face delays or changes.

Who bought WFTX and what market does it serve after the March 2, 2026 closing?

Sun Broadcasting acquired WFTX, which serves the Fort Myers-Naples, Florida television market. According to the company, the sale closed March 2, 2026, transferring the Fox-affiliated station to the buyer.

Will Scripps (SSP) continue selling stations after the WFTX transaction?

Scripps described the WFTX closing as part of a broader portfolio optimization effort. According to the company, this follows prior and pending transactions, indicating continued strategic adjustments to its local TV portfolio.