Mission Broadcasting closed its acquisition of WPIX-TV in New York from the E.W. Scripps Co.
Also Read: Mission Broadcasting to Buy WPIX from Scripps
Scripps acquired WPIX when it bought eight TV stations from Nexstar. Nexstar had to divest the stations after it purchased Tribune Media in Sept. 2019.
As part of its transaction with Scripps, Nexstar retained an option to buy back WPIX. Nexstar sold that option to Mission Broadcasting in July for $75 million.
Also Read: Scripps Goes National By Buying Ion for $2.65 Billion
Scripps said it plans to use cash from the sale to finance its acquisition of Ion Media. The Ion Media deal is expected to close early in 2021.
