Scripps completed the sale of its Indianapolis‑based ABC affiliate WRTV to Circle City Broadcasting for $83 million on March 31, 2026. The transaction closed the same day the parties finalized the agreement, and the announcement was issued on April 1, 2026.
The sale adds to a series of divestitures that have brought Scripps $123 million in cash from the sale of WRTV and the earlier $40 million sale of WFTX in Fort Myers. Management said the proceeds will be used to reduce the company’s $2.73 billion debt load and to fund the repurchase of 23 ION‑affiliated stations that were divested in 2021 to comply with FCC ownership limits. The repurchase is expected to cost about $54 million.
The divestiture is part of Scripps’ broader transformation plan, which aims to shift focus from local‑market stations to high‑margin national platforms such as ION and sports content. The company’s Q4 2025 earnings report showed a 23 % decline in revenue to $560 million and a net loss of $44.9 million, driven by a non‑cash charge on held‑for‑sale Court TV assets, restructuring costs, and a debt extinguishment loss. The loss contrasts with a $80.3 million profit in the same quarter a year earlier, underscoring the company’s need to streamline operations and reduce leverage.
Segment data from the Q4 2025 report reveal that local‑media revenue fell 30 % year‑over‑year, while the Scripps Networks division saw a 7.7 % decline. Despite these headwinds, the Networks division maintained a 32 % margin in Q1 2025, a 870‑basis‑point improvement over the prior year, reflecting stronger connected‑TV revenue and cost efficiencies.
CEO Adam Symson emphasized that the company’s strategy is to focus on high‑margin national platforms and to accelerate growth in connected‑TV and sports content. CFO Jason Combs added that the reacquisition of the ION stations will be immediately accretive to the Networks division’s profit and margin, as the company will no longer pay affiliate fees to the former owners. "We ended 2025 with strong financial results that met or exceeded expectations of the company’s financial performance and have entered 2026 with significant momentum," Symson said in the Q4 2025 earnings report. "The transaction allows us to expand our already sizable spectrum holdings. After close, we will no longer be paying the owner of those stations affiliate fees -- so acquiring these station assets will be immediately accretive to the Scripps Networks division segment profit and margins," Combs noted.
The sale also creates a duopoly in Indianapolis for Circle City Broadcasting, which already owns WISH‑CW and WNDY‑MyNet. The transaction required FCC approval and a waiver of ownership rules, reflecting the regulatory environment that has recently become more permissive toward consolidation.
While the transaction provides a cash infusion that will help Scripps reduce debt, the company’s overall financial performance remains under pressure. The Q4 2025 earnings miss—net loss versus a prior‑year profit—highlights the challenges of transitioning from a local‑market model to a national‑platform focus. Management’s guidance for 2026 remains cautious, with no new revenue or earnings targets disclosed, but the company signals confidence that the transformation plan will deliver benefits in the second half of 2026.
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