Scripps completes sale of WRTV in Indianapolis to Circle City Broadcasting

Rhea-AI Summary

The E.W. Scripps Company (NASDAQ: SSP) closed the sale of ABC affiliate WRTV in Indianapolis to Circle City Broadcasting for $83 million on March 31, 2026.

Combined with the recent $40 million sale of WFTX, Scripps generated $123 million to be used for debt paydown and to buy back 23 ION-affiliated stations for an aggregate ~$54 million (pending closing timing). Scripps says INYO station ownership would be immediately accretive to its Networks segment. A planned five-market station swap with Gray Television is under federal review and requires relief from current ownership rules.

Positive

• $123M cash proceeds from two station sales
• Planned repurchase of 23 ION stations for ~$54M
• INYO stations would be immediately accretive to Networks segment
• Station swap with Gray to strengthen Mountain West markets

Negative

• Purchase of INYO stations pending timing and not closed
• Station swap and waiver requests require FCC relief and regulator review

Argus Apr 1 session

-4.03% close to close Open Argus

Details

News Market Reaction – SSP

On Apr 1, the first trading day after this news, SSP closed 4.03% below the previous close.

Data tracked by StockTitan Argus for the Apr 1 session.

Key Figures

WRTV sale price: $83 million WFTX sale price: $40 million Total cash proceeds: $123 million +5 more

WRTV sale price

$83 million

Sale of ABC-affiliated WRTV in Indianapolis

WFTX sale price

$40 million

Sale of Fox-affiliated WFTX in Fort Myers

Total cash proceeds

$123 million

Combined proceeds from WRTV and WFTX sales

ION stations to repurchase

23 stations

ION-affiliated stations previously divested to INYO

INYO stations price

$54 million

Current aggregate purchase price for 23 INYO stations

Station swap markets

5 markets

Planned station swap with Gray Television

Current share price

$3.79

Price before WRTV sale news

52-week range

$1.905–$4.98

Low and high prior to this news

Historical Context

5 past events · Latest: Mar 23

5 events

1. Mar 23

   Sports channel launch

   24h Move

   +11.9%

   Launch of free Scripps Sports Network FAST streaming channel.

2. Mar 18

   Broadcast partnership

   24h Move

   -6.6%

   PWHL Walter Cup Finals to air nationally on ION in U.S.

3. Mar 12

   Sports broadcast deal

   24h Move

   -2.4%

   First-ever nationally televised PWHL game in U.S. on ION.

4. Mar 11

   NWSL coverage plans

   24h Move

   -5.2%

   2026 NWSL on ION broadcast schedule and expanded programming.

5. Mar 04

   Station acquisition

   24h Move

   +5.1%

   Agreement to buy WTVQ for $15.8M and note on ION station reacquisition.

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

Key Terms

Federal Communications Commission, FCC

2 terms

Federal Communications Commission regulatory

"The divestitures were required at the time to comply with Federal Communications Commission ownership rules"

The Federal Communications Commission (FCC) is an independent U.S. government agency that oversees and sets rules for radio, television, satellite, cable and wireless communications across the country. Investors care because the FCC issues licenses, allocates spectrum and enforces rules that can create or limit market access, affect costs, and shape revenue opportunities for telecom, media and technology companies—think of it as the referee and traffic controller for the airwaves and networks companies use.

FCC regulatory

"Scripps will seek waivers from the FCC to the extent such rules are still in effect."

The FCC is the U.S. government agency that regulates radio, television, satellite, cable and wireless communications. Its decisions are like traffic signals for companies that use airwaves or communications networks: they grant licenses, approve or block mergers, set technical rules and enforce penalties, all of which can change a company’s ability to operate, sell products or compete — and therefore affect revenue, costs and investor returns.

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

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CINCINNATI, March 31, 2026 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) closed today on the sale of WRTV, its ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million.

The WRTV sale follows Scripps’ recent completion of the sale of WFTX, its Fox-affiliated station in Fort Myers, Florida, to Sun Broadcasting for $40 million. Combined, the two transactions generated $123 million in cash proceeds, which the company says will be used toward debt paydown and the purchase of 23 ION-affiliated stations that it divested to INYO Broadcast Holdings in connection with its acquisition of ION in January 2021.

The current aggregate purchase price of the INYO stations is approximately $54 million pending timing of a deal close. The divestitures were required at the time to comply with Federal Communications Commission ownership rules, and Scripps will seek waivers from the FCC to the extent such rules are still in effect. Ownership of the INYO stations would be immediately accretive to Scripps Networks division segment profit and margin, and would support coordination with Scripps’ other stations to develop potential new local programming opportunities.

Scripps also has an agreement to swap stations in five markets with Gray Television, a transaction that will strengthen Scripps’ competitive position in key Mountain West markets. 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 about 60 stations in 40 markets. Scripps reaches households across the U.S. with national news outlet Scripps News 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 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.” 

Scripps in the news                 Scripps press releases

FAQ

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

How much did Scripps (SSP) receive from the WRTV Indianapolis sale?

Scripps received $83 million from the WRTV sale. According to the company, that transaction closed March 31, 2026 and contributes to the combined $123 million proceeds from two recent station sales.

What will Scripps (SSP) use the $123 million in proceeds for?

Scripps plans to use the proceeds for debt paydown and to purchase divested ION stations. According to the company, proceeds will fund debt reduction and the planned ~$54 million acquisition of 23 INYO stations.

Are the 23 ION-affiliated stations purchase by Scripps (SSP) finalized?

The purchase is not finalized; the aggregate price is about $54 million pending close timing. According to the company, ownership would be immediately accretive to the Networks segment once the transaction completes.

Does the Scripps–Gray station swap (SSP) require regulatory approval?

Yes, the five-market station swap requires relief from current ownership rules and is under federal review. According to the company, the transaction is awaiting regulator decisions before it can proceed.

How does the WRTV sale affect Scripps' local programming plans (SSP)?

Scripps says acquiring the INYO stations would support new local programming coordination across its stations. According to the company, ownership is expected to boost Networks segment profit and margin and enable programming opportunities.