(edited from TVNewsCheck.com) – The E.W. Scripps Co. and Journal Communications have agreed to merge their broadcast operations and spin off and then merge their newspapers, creating two separately traded public companies.
The merged broadcast and digital media company, based in Cincinnati, will retain The E.W. Scripps Co. name, and the Scripps family shareholders will continue to have voting control. The company will have approximately 4,000 employees across its television, radio and digital media operations and is expected to have annual revenue of more than $800 million.
The new Scripps broadcast company will become the 11th largest TV station group (including Tampa’s WFTS, West Palm Beach’s WPTV, and Fort Myer’s WFTX), according to the TVNewsCheck/BIA/Kelsey ranking, which is based on TV revenue.It will operate 34 TV stations reaching 18% of TV homes. It will also operate 35 radio stations in eight markets, all former Journal properties.