The E.W. Scripps Company
Brooks Pierce partners David Kushner and Coe W. Ramsey represented The E.W. Scripps Company in its acquisition of ION Media Networks Inc. for $2.65 billion. The deal, which included the ION television network and 48 ION television stations, was announced late September and closed on Jan. 7, 2021.
With this transaction, Scripps now reaches nearly every American through its national networks business that includes ION Media’s entertainment programming, Newsy’s headline and documentary news content and the five popular Katz broadcast networks: Bounce, Court TV, Court TV Mystery, Grit and Laff.
Scripps also now owns stations across 76 television markets, making Scripps the nation’s largest television broadcaster.
To obtain regulatory approval for the deal, Scripps sold 23 of ION’s 71 television stations to INYO Broadcast Holdings LLC, a new entrant in the television broadcast industry.
Brooks Pierce’s representation of Scripps included being lead counsel in connection with the FCC approval, the INYO divestiture transaction and the affiliation of INYO’s 23 stations with the ION television network.