E.W. Scripps Sells Five Stations to Multicultural

Sep 26, 2006  •  Post A Comment

The E. W. Scripps Co. has agreed to sell its five TV stations affiliated with the Shop at Home network to New York-based Multicultural Television Broadcasting for $170 million.

Multicultural Television Broadcasting will get WMFP-TV in Boston; WOAC-TV in Cleveland; WRAY-TV in Raleigh-Durham, N.C.; WSAH-TV in Bridgeport, Conn.; and KCNS-TV in San Francisco. The transaction is expected to be completed over the next nine months, pending license transfers and other approvals by the Federal Communications Commission.

Scripps in June sold the Shop at Home television network, including its Nashville studios and other assets, to Jewelry Television for $17 million.

Multicultural Television Broadcasting is a newly formed limited liability company created by Multicultural Radio Broadcasting, a multiethnic media company with radio stations, cable holdings and satellite television operations. The company also runs print publications serving consumers in more than 22 languages.