Scripps agrees to sell WRTV in Indianapolis to Circle City Broadcasting for $83 million

Core Viewpoint - The E.W. Scripps Company has agreed to sell its local ABC-affiliated station WRTV in Indianapolis to Circle City Broadcasting for $83 million, aiming to reduce debt and enhance the sustainability of its local station portfolio [1][3]. Company Overview - The E.W. Scripps Company is a diversified media entity and one of the largest local TV broadcasters in the U.S., operating over 60 stations across more than 40 markets [6][7]. - Scripps also manages national news outlets such as Scripps News and Court TV, along with various entertainment brands [6][7]. Transaction Details - The sale of WRTV is part of a strategic move by Scripps, which has also announced the sale of WFTX in Ft. Myers/Naples to Sun Broadcasting and a station swap with Gray Media [4]. - Circle City Broadcasting, led by DuJuan McCoy, operates two other television properties in the Indianapolis market and aims to enhance its service to local communities through this acquisition [2][3]. Strategic Implications - The transaction is expected to allow Circle City Broadcasting to expand its local news offerings while enabling Scripps to improve its financial position by reducing debt [3]. - The deal is pending regulatory and customary approvals before finalization [2].