Scripps has acquired 15 new stations from Cordillera Communications. This grows the company’s portfolio to 51 stations in 36 markets.
In addition to the increased reach, the acquisition adds market leadership. with all but one station ranking No. 1 in the market.
“Through this transaction, Scripps will operate the No. 1-rated TV stations in a third of its markets, enhancing the durability of our portfolio. The acquisition also allows us to go deeper in new markets with the addition of three new duopolies, including two with Big Four combinations,” said Brian Lawlor, president of local media.
Here is a list of stations purchased for $521 million dollars:
WLEX, the NBC affiliate in Lexington, Ky.
KOAA, the NBC affiliate in Colorado Springs, Colo.
KATC, the ABC affiliate in Lafayette, La.
KSBY, the NBC affiliate in Santa Barbara-San Luis Obispo, Calif.
KRIS, the NBC affiliate, and KAJA, a Telemundo affiliate, in Corpus Christi, Texas
KPAX and KAJJ, a CBS affiliate in Missoula, Mont.
KTVQ, a CBS affiliate in Billings, Mont.
KXLF/KBZK, the CBS affiliate in Butte-Bozeman, Mont.
KRTV, the CBS affiliate, and KTGF, the NBC affiliate, in Great Falls, Mont.
KTVH, the NBC affiliate, and KXLH, the CBS affiliate, in Helena, Mont.
Combined, all acquired stations have approximately 700 employees. The sale is expected to close in the first quarter of 2019.