Scripps Sells Last Group of Stations To SummitMedia
Re-posted from Radio Ink
The 19 stations in four markets Scripps still had in its portfolio will soon be gone, sold to Carl Parmer's SummitMedia for $47 million. This is the fourth and final transaction in the sale of Scripps’ radio assets. The sales of Scripps’ radio stations total $83.5 million, and the group’s 2017 segment profit was $11.6 million. The company announced in January its intent to sell its portfolio of 34 radio stations in eight markets. More at www.radioink.com.