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Home / Business / EW Scripps agrees to acquire Berkshire-backed ION Media for US$2.65 billion

EW Scripps agrees to acquire Berkshire-backed ION Media for US$2.65 billion



EW Scripps Co. agreed to acquire ION Media for US$2.65 billion, a move that was supported by Warren Buffett’s Berkshire Hathaway Inc. to significantly expand the TV station owner Business scope.

Scripps said in a press release that Berkshire plans to make a $600 million investment in preferred stock in Scripps to help buy closely held ION. Berkshire will also receive warrants to purchase up to 23.1 million Class A Scripps shares at a price of $13 per share. Scripps inventory is closed


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