Scripps says they will buy national broadcast network ION Media for $2.65 billion.
Scripps’ plans are to join ION with Katz networks and Newsy to create a full-scale national television networks business.
Scripps will be getting help from Warren Buffet’s Berkshire Hathaway to help pay for the deal.
Berkshire Hathaway will make a $600 million preferred equity investment in Scripps to finance the transaction.
ION reaches more than 100 million homes through over-the-air and pay TV platforms.
Scripps buyss ION media
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Scripps buyss ION media
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