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CINCINNATI - E.W. Scripps Company (NASDAQ:SSP), currently valued at $250 million in market capitalization, announced Wednesday it has reached an agreement to sell WFTX, its Fox-affiliated television station in Fort Myers, Florida, to Sun Broadcasting for $40 million.
The transaction with Sun Broadcasting, a private broadcaster that operates radio and television properties exclusively in the Fort Myers-Naples market, is expected to close in the fourth quarter of 2025 pending regulatory approvals.
Scripps plans to use proceeds from the sale to reduce debt, according to a company press release. The transaction does not require relief from current television station ownership rules.
"The sale of WFTX to Sun Broadcasting will put the station in the hands of a locally based company with deep roots in the Southwest Florida community," said Adam Symson, Scripps President and CEO.
This transaction follows Scripps’ July announcement of an agreement to swap stations in five mid-sized and small markets with Gray Media, a deal that is currently under regulatory review.
Scripps, which describes itself as one of the nation’s largest local TV broadcasters, operates more than 60 stations across over 40 markets. The company also owns national news outlets Scripps News and Court TV, along with entertainment brands including ION, Bounce, and Grit.
In other recent news, E.W. Scripps Company reported its second-quarter earnings for 2025, revealing a notable miss on earnings per share (EPS) and a slight shortfall in revenue. The company reported an EPS loss of $0.59, which was significantly below the anticipated loss of $0.21. Additionally, revenue was reported at $540.08 million, falling short of the expected $544.58 million. These results contributed to a decline in the company’s stock price. Analysts have noted these figures as part of the company’s recent performance. The earnings miss and revenue shortfall have drawn attention from various financial analysts and investors. These developments are part of the company’s recent financial disclosures.
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