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Stock Market & Financial Investment News

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June 16, 2014
12:29 EDTSSPE.W. Scripps closes purchase of two stations
E.W. Scripps closed its deal to acquire two television stations owned by Granite Broadcasting Detroit MyNetworkTV affiliate WMYD and Buffalo, N.Y., ABC affiliate WKBW. The $110M transaction is structured as a purchase of assets and was funded with cash on hand. Scripps has said the two stations would add $30M in revenue and $10M of segment profit in the first full year it operates them.
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