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6 Firms Build EW Scripps’ $2.65B Ion Media Purchase – Law360

Impact team
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6 Firms Build EW Scripps’ $2.65B Ion Media Purchase  Law360

Law360 (September 24, 2020, 2:29 PM EDT) — The E.W. Scripps Co. on Thursday agreed to buy broadcasting business Ion Media for $2.65 billion, in a deal that features a $600 million equity investment from Berkshire Hathaway and was put together with help from law firms BakerHostetler, Brooks Pierce, Simpson Thacher, Kirkland, Skadden and Cooley.

The agreement sees Scripps adding to its portfolio a company in West Palm Beach, Florida-based Ion Media that reaches more than 100 million homes, including through local cable networks and pay TV platforms, according to a statement. The company posted 2019 revenue of $587 million and boasts the fifth-largest average primetime audience among all…

Source: law360.com

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