SummitMedia is paying $47 million for the company’s final 19 outlets.
Most recently, Robert Kalutkiewicz was responsible for mergers and acquisitions at Tronc. Now he will oversee Scripps’ growth strategy and identify, develop and evaluate national media investment, acquisition and partnership opportunities.
The board of directors of The E.W. Scripps Co. on Wednesday declared a cash dividend for the third quarter of 2018. Scripps shareholders of record as of Sept. 14 will receive 5 cents per share on Sept. 25. The dividend will be paid out of the company’s capital surplus. The cash dividend is the company’s third since reinitiating a quarterly dividend in February.
Lotus Communications is buying the nine stations in Idaho and Arizona for $8 million. The sale is the third in a series of radio sale transactions for Scripps, which announced in January its intent to sell its portfolio of 34 radio stations in eight markets.
The three are the latest station groups that will employ end-to-end technology powered by automated intelligence to advance marketing solutions.
Scripps’ millennial-targeted OTT news network expects to be available in about 40 million cable homes by the end of next year after purchasing carriage contracts from the Retirement Living Television cable network for up to $23 million.
He will end a 45-year broadcasting career on Jan. 1, 2018. Since 2012, he has been divisional GM.
The E.W. Scripps Co. says its balance sheet is well positioned to make more acquisitions in a deregulated environment if potential stations meet its criteria. But the company also isn’t clamoring to build up to the new cap, wherever that may be, its COO says.
At the May 2 Scripps shareholder annual meeting, Adam Symson, R. Michael Scagliotti and Peter B. Thompson will stand for election by Scripps family members as holders of the common voting shares.
Veteran news executive Katherine Green will lead recruiting efforts for top news management positions in Scripps’ 24 TV markets.