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Scripps Buys KXXV-TV: Growth, Shareholder Value, and 2020 Elections

Scripps Buys KXXV-TV Growth, Shareholder Value, and 2020 Elections

A Cincinnati-based broadcasting group, E.W. Scripps Company, has informed the public on Monday about its intent to acquire KXXV-TV Channel 25.  The TV station will be the media firm’s first channel in Texas.

In addition, Scripps will also purchase the channel based in Tallahassee, Florida, called WTXL-TV. The deal for the two ABC subsidiaries is valued at $55 million.

Scripps’ deal in purchasing KXXV-TV Channel 25 also comprises Bryan-based KHRD-TV. The company is buying the two stations from Raycom Media which is being acquired by Gray Television, Incorporated for $3.6 billion.

In a press release, Adam Symson, CEO and president of Scripps, indicated that his firm’s purchase of KXXV-TV Channel 25 and KHRD-TV matches the company’s strategic goal for this year.

Scripps intends to boost their portfolio of local TV stations and, at the same time, deliver value to their stockholders.  The Scripps executive also revealed the company’s interest in politics.

Symson noted that besides their motivation to strengthen their established connection with ABC and to grow their household reach, the settlement would also develop Scripps’s political footprint in important battleground states for the 2020 national elections.

Together with his staff, Eric Duncan, general manager and vice president of KXXV-TV Channel 25, is delighted to have the network sold to Scripps which he views as a reputable company.

He said that he is expecting a few alterations to the TV channel. The KXXV-TV head described the channel, which possesses roughly 90 journalists, as having a solid reputation.

Reporting much of the Central Texas area, the media staffers concentrate on McLennan and Bell counties. Furthermore, they also focus on the cities of Belton, Temple, Waco, and Killeen.

Occasionally, the KXXV-TV reporters also write news from Coryell County. Duncan added that, as a TV station, they are working hard to become an even more significant presence in Texas.  In addition, hiring more staff is on the cards if their coverage expands.

Based on a report by Markets Insider, once the deal is concluded, Scripps will have 35 TV channels in 26 markets.  In addition, it will serve 18.5 percent of homes in the United States.

Scripps representative Kari Wethington said that Scripps has had other businesses in Texas like the Dallas Dispatch and other Texan newspapers.

Acquiring KXXV-TV Channel 25 as its first TV channel in the southern state is aligned with Scripps’ robust commitment to local news reporting.

 

Adam Alderson
the authorAdam Alderson
Adam is an aspiring writer and an artist who plays with his band on the weekends. He loves to write about cord cutting and digital industry focused articles. His favorite movie is "Home Alone". He loves watching his home team Birmingham City FC play while listening to House Music. Favorite Teams - Basketball: Spurts, Football: NY Jets, Soccer: Birmingham City FC.

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