The E.W. Scripps Company Sells WFTX in Fort Myers-Naples for $40 Million
On September 3, 2025, the E.W. Scripps Company (NASDAQ: SSP) announced its decision to sell WFTX, a local Fox-affiliated television station located in Fort Myers, Florida, to Sun Broadcasting for a deal worth $40 million. This transaction is noteworthy not only for its financial implications but also for its potential impact on local media ownership dynamics in the Southwest Florida region.
Sun Broadcasting, a prominent local broadcaster, specializes in operating both radio and television properties within the Fort Myers-Naples market. By transferring ownership of WFTX to Sun Broadcasting, Scripps aims to strengthen community ties and ensure that the station remains rooted in local interests. Adam Symson, President and CEO of Scripps, expressed optimism about the sale, stating, "The sale of WFTX to Sun Broadcasting will put the station in the hands of a locally based company with deep roots in the Southwest Florida community."
Scripps anticipates that the deal will close in the fourth quarter of the year, pending customary regulatory approvals. Importantly, the transaction does not require any relief from existing regulations regarding television station ownership, which streamlines the process significantly.
The decision to sell WFTX is part of Scripps’ broader strategy to optimize its portfolio. As Symson explained, the company continuously evaluates its ownership of stations, weighing whether its presence is beneficial or if a sale might be the appropriate route. The funds generated from the sale of WFTX will be directed towards reducing the company's debt, reflecting Scripps’ commitment to enhancing its financial standing in the industry.
In parallel to this sale, Scripps had previously announced a different transaction involving a swap of stations in several mid-sized markets with Gray Media. This earlier transaction is currently under review by federal regulators, as it requires alterations to existing ownership rules, highlighting the complexities of the media landscape.
The implications of Scripps’ sale of WFTX to a local entity underscore the ongoing conversation about community representation in media ownership. Local stations often play crucial roles in delivering news and information that resonate with regional audiences. The move could provide residents with a stronger sense of connection to their news source, as Sun Broadcasting has established credibility and familiarity within the Fort Myers-Naples community.
Founded in 1878, the E.W. Scripps Company has evolved into one of the country's largest local television broadcasters, operating over 60 stations across more than 40 markets. Scripps is known for its commitment to quality journalism and local news, operating national news outlets such as Scripps News and Court TV, along with entertainment brands like ION and Bounce.
As the media landscape continues to shift, the acquisition of stations by local companies may become more prevalent. By focusing on regional ownership, communities can benefit from news coverage that is more reflective of their specific needs and cultures. As the industry anticipates changes in advertising demand and audience fragmentation, transactions like the Scripps and Sun Broadcasting deal may pave the way for a new era in local broadcasting.
In conclusion, the sale of WFTX is more than just a financial transaction; it represents a shift towards nurturing local media ownership and fostering community connection in a rapidly changing broadcasting landscape.
Sun Broadcasting, a prominent local broadcaster, specializes in operating both radio and television properties within the Fort Myers-Naples market. By transferring ownership of WFTX to Sun Broadcasting, Scripps aims to strengthen community ties and ensure that the station remains rooted in local interests. Adam Symson, President and CEO of Scripps, expressed optimism about the sale, stating, "The sale of WFTX to Sun Broadcasting will put the station in the hands of a locally based company with deep roots in the Southwest Florida community."
Scripps anticipates that the deal will close in the fourth quarter of the year, pending customary regulatory approvals. Importantly, the transaction does not require any relief from existing regulations regarding television station ownership, which streamlines the process significantly.
The decision to sell WFTX is part of Scripps’ broader strategy to optimize its portfolio. As Symson explained, the company continuously evaluates its ownership of stations, weighing whether its presence is beneficial or if a sale might be the appropriate route. The funds generated from the sale of WFTX will be directed towards reducing the company's debt, reflecting Scripps’ commitment to enhancing its financial standing in the industry.
In parallel to this sale, Scripps had previously announced a different transaction involving a swap of stations in several mid-sized markets with Gray Media. This earlier transaction is currently under review by federal regulators, as it requires alterations to existing ownership rules, highlighting the complexities of the media landscape.
The implications of Scripps’ sale of WFTX to a local entity underscore the ongoing conversation about community representation in media ownership. Local stations often play crucial roles in delivering news and information that resonate with regional audiences. The move could provide residents with a stronger sense of connection to their news source, as Sun Broadcasting has established credibility and familiarity within the Fort Myers-Naples community.
Founded in 1878, the E.W. Scripps Company has evolved into one of the country's largest local television broadcasters, operating over 60 stations across more than 40 markets. Scripps is known for its commitment to quality journalism and local news, operating national news outlets such as Scripps News and Court TV, along with entertainment brands like ION and Bounce.
As the media landscape continues to shift, the acquisition of stations by local companies may become more prevalent. By focusing on regional ownership, communities can benefit from news coverage that is more reflective of their specific needs and cultures. As the industry anticipates changes in advertising demand and audience fragmentation, transactions like the Scripps and Sun Broadcasting deal may pave the way for a new era in local broadcasting.
In conclusion, the sale of WFTX is more than just a financial transaction; it represents a shift towards nurturing local media ownership and fostering community connection in a rapidly changing broadcasting landscape.
Topics Entertainment & Media）
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