Wonderful world of Scripps
Is E.W. Scripps swapping its rabbit ears for mouse ears? That's the rumor on Wall Street, but it seems to be coming not from Tomorrowland, but Fantasyland. You may have noticed that TV-station stocks have not been doing well lately, given the ad slump. But not so Scripps, which has ticked up 20% in since October, in part because of a quiet buzz that the company is in deal talks with The Walt Disney Co. Scripps executives have certainly been trying to figure out what to do with their TV stations, and came close to structuring a venture with LIN Broadcasting last May. But the company's dealings with Disney have been limited to a chat, said one insider. Given that Scripps owns six ABC affiliates and two highly successful cable networks, ABC executives called fast when they heard about the LIN deal. But the talks haven't gotten further than an approach, the insider said.