E.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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E.W. Scripps sees FY14 television revenue up 20% Sees FY14 television expenses to be up less than 10%; Sees FY14 granite revenue $15M, FY14 newspaper revenue and expenses to be down low single digits. Sees FY14 subscription revenue to increase mid-single digits. Sees FY14 CapEx $20M-$25M.