Scripps Acquires Lexington ABC Affiliate WTVQ for $15.8M
E.W. Scripps has closed its purchase of WTVQ from Morris Network, expanding its local TV footprint in Kentucky.
E.W. Scripps Company has finalized its acquisition of WTVQ, the ABC-affiliated television station serving Lexington, Kentucky, completing a deal that was first announced prior to closing. The purchase price stood at $15.8 million, paid to the seller, Morris Network, Inc., a privately held broadcast group.
The transaction adds a significant mid-market ABC affiliate to Scripps' growing portfolio of local television stations. Lexington represents one of Kentucky's largest media markets, making WTVQ a strategically meaningful asset for a company that has long pursued scale through regional broadcast acquisitions.
Read more Walmart, Costco, Amazon Set to Gain From GLP-1 Drug Boom →
For Scripps, the deal reflects a broader industry pattern in which larger broadcast groups consolidate smaller, independently owned stations at a time when local television faces mounting pressure from streaming and digital advertising. Acquiring an established network affiliate with existing audience relationships offers a more predictable path to revenue than building market presence from scratch.
Morris Network, the divesting party, is a family-owned broadcasting company with stations across several U.S. markets. The sale of WTVQ suggests continued portfolio rationalization among smaller broadcast operators navigating an increasingly competitive media landscape.
Continue reading at GlobalNewswire.
