The E.W. Scripps Company and The McGraw-Hill Companies have announced that the $212M transfer of television stations from the latter to the former has closed. Four ABC affiliates and five Azteca America affiliates on HD side channels and LPTVs were involved in the deal.
The full power stations included in the transaction are KERO-TV Bakersfield CA; KGTV-TV San Diego CA; KMGH-TV Denver CO; and WRTV-TV Indianapolis IN. The Azteca out lets are located in Denver, Fort Collins, Colorado Springs, San Diego and Bakersfield.
Harold McGraw III, the Chairman, President and CEO of McGraw Hill said, “I thank the talented men and women of these stations for their valuable contributions to McGraw-Hill and know they are joining a respected media organization where they will continue delivering news, insights and entertainment.”
At the time the deal was announced in early October 2011, Scripps President/CEO Rich Boehne commented, “This is a terrific opportunity to enter some of America’s most dynamic media markets and tap into the growing Spanish-language marketplace at a very attractive price. The McGraw-Hill stations fit well with our strategy to create economic value through high-quality news and information content that serves both consumers and advertisers through linear television and the exploding array of digital communication devices.”