The ABC affiliate serving the Lexington, Ky., market is being sold by Morris Network Inc. Who’s the buyer? It is the Cincinnati-headquartered broadcast media company whose flagship TV station is the home of ABC network programming in the Queen City, some 90 minutes to the north.
The E.W. Scripps Co. is purchasing WTVQ-TV, branded as “ABC 36,” from Morris Network, Inc. for $15.8 million. The station’s DT2 channel offers MyNetwork TV programming.
With Commission approval, a duopoly would be created for Scripps in Lexington, pairing “ABC 36” with WLEX-TV, the NBC affiliate known as “LEX 18.” This would leave Scripps’ main competitors in the Lexington-Fayette market Nexstar Media Group-owned WDKY “FOX 56” and Gray Media, owner of CBS affiliate WKYT-TV; The CW Network airs on WKYT’s DT2 signal.
In a statement distributed on Wednesday, Scripps President/CEO Adam Symson said the purchase of WTVQ “would deepen the company’s commitment to the Lexington market.”
He added, “Whether through swaps, divestitures or strategic acquisitions like this, Scripps is focused on seeking out the strongest opportunities to grow. This acquisition would give us the scale and depth in Lexington to strengthen our financial durability and assign more reporters to neighborhoods throughout the area, enhancing our public service journalism and creating greater community connection across the market.”
The transaction requires federal regulatory and other customary approvals. While approval is pending, Scripps will provide certain programming, marketing and related services for WTVQ via a local programming and marketing agreement.
Once complete, WTVQ will become a cousin of WCPO-9 in Cincinnati, where Scripps headquarters is housed.
