The E.W. Scripps Company has completed the merger of its broadcast assets with those of Journal Communications and the spinoff of their respective newspapers. The station group is known as Scripps and the newspaper company is Journal Media Group.
“Beginning today, the platform for our quality journalism and information products is a diverse group of local media brands–television, radio and digital–and we will reach nearly one in five U.S. television households,” said Rich Boehne, Scripps chairman, president and CEO. “We have a big voice that we will continue to use to create and distribute great content and marketing messages that build brand and sales for our advertisers.”
While he stressed that the merger and spinoff was the right operational move, Boehne told reporters March 31 that the process was emotionally draining. “It’s not something I want to have to do again,” he said.
Wells Fargo Securities was the exclusive financial advisor to Scripps, Evercore Partners acted as exclusive financial advisor to the Scripps family, and Methuselah Advisors was exclusive financial advisor to Journal Communications.