Gray And Scripps Swap TV Stations To Form Duopolies In Key U.S. Markets

E.W. Scripps

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(RTTNews) - Gray Media, Inc. and The E.W. Scripps Company (SSP) have reached agreements to exchange television stations in five small and mid-sized markets, enabling each company to create new local duopolies.

The move aims to enhance operational scale and financial strength, allowing both broadcasters to expand their delivery of local news and sports programming.

As part of the swap, Gray will acquire Scripps' WSYM (Fox) in Lansing, Michigan, and KATC (ABC) in Lafayette, Louisiana. WSYM will join Gray's existing NBC affiliate WILX in Lansing, forming a duopoly, while KATC strengthens Gray's footprint in the Southeast and across Louisiana.

Gray President and Co-CEO Pat LaPlatney stated that the strategic nature of the acquisitions is expected to result in expanded news staffing and more hours of live local newscasts once the deal closes.

In return, Scripps will acquire Gray's KKTV (CBS) in Colorado Springs, Colorado, adding to its NBC affiliate KOAA in the market. Scripps will also gain KKCO (NBC) and KJCT-LP (ABC) in Grand Junction, Colorado, and KMVT (CBS) and KSVT-LD (Fox) in Twin Falls, Idaho, where it already owns KSAW-LD (ABC). These additions will enhance Scripps' presence in the western U.S., spanning several states including Montana, Idaho, and California.

Scripps CEO Adam Symson said the new stations support the company's growth strategy and will enable deeper local engagement and expanded coverage in key regions.

The transaction is structured as an even swap of comparable assets, with no cash exchanged. Both parties plan to close the deal in Q4 2025, pending regulatory approval and required waivers of legacy ownership rules. The companies intend to collaborate with regulators and stakeholders to ensure a smooth transition.

SSP currently trades at $3.605, or 5.4094% higher on the NasdaqGS.