The McCoy/Scripps Deal that FTVLive FIRST told you About has Happened (Patreon)

Back on October 3rd, FTVLive FIRST told our patrons that Scripps and Circle City Broadcasting were looking to do a deal.

Circle City is owned by DuJuan McCoy, the owner of WISH-TV (Indianapolis), and he was looking to acquire Scripps-owned WRTV, also in Indianapolis.

We even showed you the NDA that McCoy agreed to before he started kicking the tires on WRTV.

Well, weeks later, the press release has gone out, and it announces what FTVLive FIRST told you.

Here are the obligatory quotes regarding the deal from the key principles:

“Circle City Broadcasting has an established presence in Indianapolis, led by media veterans who comprehend both the local community and the broadcast industry,” stated Adam Symson, Scripps president and CEO. “This strategic transaction enables Circle City Broadcasting to expand its service to Indiana communities while facilitating Scripps’s debt reduction and the enhancement of the long-term resilience of its local station portfolio.”

“As a native of Indianapolis and a career small business owner, I am delighted to be incorporating RTV6 into Circle City Broadcasting’s existing news brands, which will generate value for both our company and the hometown community we serve,” expressed McCoy.

In essence, this is a transaction involving two financially struggling companies.

Although no official statements have been made, it is probable that WRTV and WISH will merge, resulting in job losses.

It is challenging to ascertain a clear winner in this deal, and it is likely to be detrimental to viewers in Indianapolis. The anticipated outcome is the merging of newsrooms, resulting in newscasts on both stations that closely resemble each other (or are identical). Consequently, viewers will lose another option for news consumption.

Over the years, numerous deals have been made, but this one presents a lack of favorable outcomes.

We anticipate job cuts as a consequence of this transaction.

Stay informed…