The station group announced it’s buying WKBW along with Detroit MyNetworkTV affiliate WMYD for $110 million in cash.
Rumors of the Buffalo sale have been swirling since Alan Pergament of The Buffalo News reported Scripps executives had toured the Buffalo station in December.
“These stations in Detroit and Buffalo will contribute strong cash flow to our core business, expand our reach in one of our best markets, and expand our TV footprint in partnership with ABC,” Rich Boehne, Scripps chairman, president and CEO said in a statement.
The acquisition of WMYD creates a duopoly with Scripps’ owned Detroit ABC affiliate WXYZ. The Buffalo buy brings the number of ABC affiliates owned by Scripps to 11, upping the reach of the station group’s ABC affiliates to 12 percent of US households.
The two station groups have also signed a Time Brokerage Agreement where Scripps will provide four to six hours of daily programming to WMYD until the deal closes.
The deal will bring Scripps owned station total to 21. With market reach of 14 percent of US households.
The deal is subject to FCC approval.