Tegna completes two station deals

The E.W. Scripps Co. said it acquired TV stations from Raycom Media and named new general managers in the markets affected.

Meanwhile, Tegna said it completed its acquisition of WTOL-TV, Toledo, Ohio, and KWES-TV in Midland-Odessa, Texas.

Scripps said it named Matt Brown as VP and general manager of WTXL-TV in Tallahassee, Fla. Brown had been news director at WFTS, Scripps’ station in Tampa. He’s been with Scripps since 2013, starting in KSHB-TV, Kansas City.

Related: Gray Completes Acquisition of Raycom Media

Scripps also named Adam Chase as VP and general manager for KXXV-TV, and WRDH-TV, in Waco, Texas. Chase had been VP and GM for KERO-TV, Scripps’ station in Bakersfield, Calif., since 2016.

The three stations were divested by Gray Television when it acquired Raycom. The stations employ about 130 staffers.

The acquisitions bring Scripps TV holdings to 36 stations in 26 markets, serving 18.5% of the U.S.

Scripps’ is also in the process of acquiring 15 TV stations in 10 markets from Cordillera Communications. The company expects that deal to close this spring.

“The acquisitions of the Waco and Tallahassee stations and those from Cordillera increase the scale of our portfolio and deepen our presence in politically important markets including Florida, Texas and Colorado,” said Brian Lawlor, president of local media for Scripps. “These strong additions to our footprint help advance our strategies to improve margin profile, cash flow and operating performance.

Tegna also acquired the stations as part of a divestiture by Gray Television, paying $105 million in cash.

“WTOL and KWES are strong local media brands well-positioned in key markets that further enhance our portfolio of Big 4 affiliates,” said Tegna CEO Dave Lougee. “We have a strong track record of successful acquisitions and continue to pursue opportunities that create value for our shareholders.”