Scripps buyss ION media

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Scripps buyss ION media

Post by genlock » Thu Sep 24, 2020 8:37 am

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.
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