Scripps Pays $110M For Detroit, Buffalo TV Stations

Law360, New York (February 10, 2014, 2:28 PM EST) -- The E.W. Scripps Company media conglomerate has agreed to pay $110 million in cash for two TV stations in Buffalo and Detroit, bringing its TV market to 14 percent of U.S. households, it said Monday.

Both stations, Detroit MyNetworkTV affiliate WMYD and ABC affiliate WKBW, are currently owned by Granite Broadcasting Corporation. There will be no debt financing for the simple asset purchase, the companies said. They expect the deal to close in the second quarter.

"These stations in Detroit and Buffalo will contribute strong cash...
To view the full article, register now.