E.W. Scripps Buys McGraw-Hill's Nine TV Stations, 460 Employees

With the purchase, Scripps gets to extend its reach to 13% of American homes, and McGraw-Hill gets to get out of the mass media business; its remaining properties target niche consumers in the marketing, energy, construction and aviation industries.

The stations include four full-power ABC affiliates in Denver (KMGH); San Diego (KGTV); Bakersfield, Calif. (KERO); and Indianapolis (WRTV) and five low-power Azteca America stations, which target Spanish-speaking Americans.

The nine stations employ about 460 people total and Scripps expects them to be “modestly” profitable in the first year.

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