E.W. Scripps said today that it has been informed that Nexstar Media Group Inc. has transferred its option to purchase Scripps’ New York CW affiliate WPIX to Mission Broadcasting and that Mission has exercised its option to purchase the station.
The option price is $75 million plus accrued interest, to be calculated on the period between the Sept. 19, 2019, purchase date of WPIX by Scripps and the option sale closing date.
Scripps purchased WPIX as part of its acquisition of eight television stations in seven markets from Nexstar. Those stations were being divested in connection with Nexstar’s acquisition of Tribune Media in September 2019.
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