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Scripps sells eight stations in new radio divestiture

Published 08/07/2018, 06:28 PM
© Reuters.  Scripps sells eight stations in new radio divestiture
SSP
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  • E.W. Scripps (NYSE:SSP) is selling eight of its radio stations for a combined $8M.
  • It's selling four stations in Tucson, Ariz. (KMXZ, KFFN, KQTH and KTGV), and four in Boise, Idaho (KJOT, KQXR, KRVB, and KTHI) to Lotus Communications.
  • It's the third in a series of divestments for Scripps, which has been pursuing a sale of its 34-station portfolio.
  • Lotus already operates four stations in the Tucson market and will divest KQTH and KTGV in order to fall under the FCC single-market ownership cap.
  • Shares are up 0.7% after hours.
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  • Now read: KRONOS Worldwide declares $0.17 dividend
  • .17 dividend


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