Scripps Completes Sale of WRTV to Circle City Broadcasting for $83 Million, Plans Debt Paydown and INYO Station Acquisition.

The E.W. Scripps Company has completed the sale of WRTV, its ABC-affiliated station in Indianapolis, to Circle City Broadcasting for $83 million. This sale follows the completion of the sale of WFTX, its Fox-affiliated station in Fort Myers, Florida, to Sun Broadcasting for $40 million. The combined cash proceeds of $123 million will be used for debt paydown and the purchase of 23 ION-affiliated stations. Scripps also has an agreement to swap stations with Gray Television, which will strengthen its competitive position in key Mountain West markets.