Posted on September 24, 2020 in ATSC News
CINCINNATI—The E.W. Scripps Company has announced that it has acquired the national broadcast network Ion Media for a price of $2.65 billion. The deal will combine Ion with Scripps’ Katz networks and Newsy, creating a national television network business, according to Scripps announcement.
Berkshire Hathaway, which is owned by Warren Buffet, is supporting the deal by investing $600 million in Scripps.
Scripps is purchasing Ion from Black Diamond Capital Management. Ion Media is a national TV network offering primarily popular crime and justice procedural programming, with a reach of more than 100 million homes, per Scripps, with licensed TV stations in 62 markets that it owns as well as 124 affiliated TV stations. Ion elects government-mandated must-carry provisions for cable distribution rather than negotiating retransmission revenue.
With Katz, Newsy and Ion, Scripps says that its national networks business will reach nearly every American through free over-the-air broadcast, cable/satellite, OTT and digital distribution, with multiple advertising-supported programming streams.
Posted in ATSC News
ATSC is a membership organization with both voting and observer categories. Voting members include corporations, nonprofit organizations, and government entities, and they participate actively in the work of ATSC. Observers are individuals or entities not eligible to be a voting member.
Subscribe to The Standard, our monthly newsletter, to stay up-to-date with ATSC news and events around the world.
1776 K Street NW 8th Floor
The Advanced Television Systems Committee, Inc., is an international, non-profit organization developing voluntary standards and recommended practices for digital terrestrial broadcasting. ATSC member organizations represent the broadcast, broadcast equipment, motion picture, consumer electronics, computer, cable, satellite, and semiconductor industries. ATSC also develops digital terrestrial broadcasting implementation strategies and supports educational activities on ATSC standards.