E.W. Scripps Buys ION Media For $2.65B, With Berkshire Hathaway Investment

[aegisrawks]

Source:
The EW Scripps Company is buying national broadcast network ION Media for $2.65 billion, with Warren Buffet’s Berkshire Hathaway helping finance the deal. The move combines ION with Scripps’ Katz networks and Newsy to create a full-scale national television networks business, which will reach nearly every American through free over-the-air broadcast, cable/satellite, over-the-top and digital advertising. It also increases Scripps’ reach into the ad market as it offers advertisers a larger platform to reach their audiences.

 

[themidnightlore]

This Scripps here was related to the Scripps Interactive that Discovery ended to buy?

 

[Daikun]

This Scripps here was related to the Scripps Interactive that Discovery ended to buy?

Yes. Scripps Interactive spun off from E.W. Scripps and was bought by Discovery.
Anyway, this should be an interesting acquisition, since ION owns qubo.

 

[LinusFan303]

Scripps will be divesting 23 Ion stations in markets where they already own two stations and to keep with the 40% regulation cap.
Scripps creates national television networks business with acquisition of ION Media - Scripps

Will be interesting to see what they do with Qubo. I'm kind of expecting they'll be doing something with news on Ion , since News is their primary product at Scripps.

 

[zeebre12]

I wonder what they will do with Ion Plus? Will they cull it or rebrand it to something else? All it has is 4 Canadian shows on loop.

 

[AdrenalineRush1996]

I wonder what they will do with Ion Plus? Will they cull it or rebrand it to something else? All it has is 4 Canadian shows on loop.

I would go with the latter.

 

[LinusFan303]

The deal has cleared, the even found a buyer for 23 stations for the clutch, Scripps Completes Acquisition Of Ion Media

also it seems that qubo and Ion Plus will be going away https://ir.scripps.com/static-files/a26d560b-d69c-4313-9fa4-7e0213fe6830

 

[themidnightlore]

Rip Qubo, the better minor kids channel in the USA, then.

 

[Daikun]

Anyway, this should be an interesting acquisition, since ION owns qubo.

Well, this post didn't age well.

 

[LinusFan303]

In my area, the Ion owned station got sold to somewhere else, since Scripps owns a station and just bought another station in the area.
Poor Qubo, it really serves a purpose to OTA tv, it's more worth it than the unnecessary Court TV and Court TV mystery (it was good when Court TV went off the air in 2008 in the first place).

 

[pacman000]

Too bad about Qubo. Does that leave PBS kids as the only OTA option for English-language kids shows? (Not counting Litton’s stuff.)

 

[homeofthebadguys]

Too bad about Qubo. Does that leave PBS kids as the only OTA option for English-language kids shows? (Not counting Litton’s stuff.)

Mostly. MeTV just added a cartoon block in the mornings (it's short on weekdays, but long on weekends), but they're more generalist (mostly focusing on boomer nostalgia) in nature.
However, there's the internet and it seems like family formats are starting to decrease in the air as they move to the internet.

 

[AdrenalineRush1996]

I would go with the latter.

Well, this hasn't aged well and who on Earth thought it was a good idea for Scripps to buy Ion enough to phase out Ion Plus and Qubo?

 

[homeofthebadguys]

Well, this hasn't aged well and who on Earth thought it was a good idea for Scripps to buy Ion enough to phase out Ion Plus and Qubo?

I don't think Scripps was planning on keeping Ion Plus and Qubo around at all.
They likely wanted a fleet of channels to centralize most or all of the Katz networks to.
However, Ion's still planned to operate like normal since there are paying customers willing to subscribe for that in the form of "cord cuddlers" (or that's at least what INSP's COO used to refer to them).

 

[AdrenalineRush1996]

I don't think Scripps was planning on keeping Ion Plus and Qubo around at all.

Well, I already mentioned "enough to phase them out" in my post you quoted.

They likely wanted a fleet of channels to centralize most or all of the Katz networks to. However, Ion's still planned to operate like normal since there are paying customers willing to subscribe for that in the form of "cord cuddlers" (or that's at least what INSP's COO used to refer to them).

In hindsight, Scripps shouldn't bought Katz at all and their decision to such a thing comes off as a desperate move for them to stay relevant after selling Scripps Networks Interactive to Discovery nearly three years ago.

 

[harry580]

wow ew scripps closes qubo is as bad as loreal closes filmation back in 1989

 

[pacman000]

wow ew scripps closes qubo is as bad as loreal closes filmation back in 1989

Not sure about that; Qubo mostly plays shows Nelvana already owns. When Filmation shut down the shows they were developing went unproduced, & whoever was working on those shows lost their jobs.

 

[harry580]

In hindsight, Scripps shouldn't bought Katz at all and their decision to such a thing comes off as a desperate move for them to stay relevant after selling Scripps Networks Interactive to Discovery nearly three years ago.

sorry for commenting on it but I wish scripps just spin off broadcasting networks like how news corporation split fox broadcasting and its studios in 2013

 

[AdrenalineRush1996]

Sorry for commenting on it but I wish Scripps just spin off broadcasting networks like how News Corporation split Fox Broadcasting and its studios in 2013.

Couldn't agree with you more.