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Scripps makes first NYC entry with latest TV station deal

Erin Caproni
Scripps makes first NYC entry with latest TV station deal

E.W. Scripps Co. plans to add eight television stations to its portfolio, including its first New York City property. The downtown Cincinnati-based media company (Nasdaq: SSP) will purchase the stations, which are in seven different markets, from the Nexstar Media Group Inc. as part of its merger with Tribune Media for a total of $580 million. The deal will expand Scripps’ portfolio to 59 local stations in 42 markets that reach nearly 30 percent of U.S. TV households.