CINCINNATI—Following the regulatory approval by the Federal communications Commission, the E.W. Scripps Company has announced that the company completed its previously announced acquisition of WTVQ, the ABC affiliate in Lexington, Kentucky, from Morris Network, Inc. for $15.8 million.
The acquisition creates a duopoly in Lexington with Scripps’ existing NBC affiliate, WLEX, strengthening the company’s local media presence in Central Kentucky.
The FCC approved the license transfer in July, which had been opposed by DirecTV.
Scripps announced the acquisition in March, as part of Scripps’ broader strategy to optimize and strengthen its local television portfolio through strategic acquisitions, divestitures and station transactions.
This year, Scripps has completed sales of WFTX in Fort Myers, Florida, and WRTV in Indianapolis, generating combined gross proceeds of $123 million. The company also recently completed a station swap with Gray Media that expanded Scripps’ presence in the Mountain West.
It has also announced plans to re-acquire 23 ION-affiliated stations for about $54 million.
