CINCINNATI—The E.W. Scripps Company has announced an agreement to sell WRTV, its local ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million.
Circle City Broadcasting is a privately held digital and news media company that is majority owned, controlled and operated by veteran broadcaster DuJuan McCoy, the former owner of Bayou City Broadcasting.
Circle City Broadcasting already operates two television properties in the Indianapolis market (WISH, the local Indianapolis CW affiliate, and WNDY, a MyNetwork affiliate) as well as Circulus Digital Media.
Scripps reported that it expects the transaction to close following regulatory and other customary approvals.
“Circle City Broadcasting has an established presence in Indianapolis, led by media veterans who understand both the local community and the broadcast industry,” said Adam Symson, Scripps president and CEO. “This strategic transaction allows Circle City Broadcasting to expand its service to Indiana communities while enabling Scripps to reduce debt and improve the durability of its local station portfolio over the long term.”
“As a native of Indianapolis and career small business owner, I am pleased to be adding RTV6 to Circle City Broadcasting’s existing news brands, which will create value for both our company as well as the hometown community we serve,” said McCoy.
The sale of WRTV follows two other local television station announcements from Scripps in recent months. In September, Scripps announced it had reached an agreement to sell WFTX in Ft. Myers/Naples to Sun Broadcasting. That sale is expected to close in the fourth quarter.
In July, the company announced it had agreed to swap stations in five mid-sized and small markets with Gray Media. That transaction, which requires relief from current television station ownership rules, being reviewed by the FCC.
