E.W. Scripps Company Acquires ION Media
September 24, 2020
The E.W. Scripps Company will acquire ION Media from an entity controlled by Black Diamond Capital Management for $2.65 billion, creating a national television networks business by combining ION with Scripps’ Katz networks and Newsy. Berkshire Hathaway is providing $600 million of preferred equity to finance the transaction; the deal is expected to deliver substantial synergies and requires FCC and HSR approvals.
- Buyers
- The E.W. Scripps Company, Berkshire Hathaway
- Targets
- ION Media
- Sellers
- Black Diamond Capital Management
- Industry
- Media & Entertainment
- Location
- Florida, United States
- Transaction Type
- Buyout
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