BREAKING - Journal merging with E.W. Scripps; radio/TV stays w/Scripps, papers to JRN

[mrschimpf]

Well that's one way to get the declining newspapers off your books; spin them all off into an existing publishing company, and keep the TV/radio stations to yourselves (the Spelling Bee stays with New Scripps though).

This is definitely a big deal; it's the end of the ancient rivalry between Journal and Hearst that went back to the turn of the century in Milwaukee, but now it sets off so many questions. Scripps is a good broadcasting company and definitely shares Journal's hate of syndicated programming and over-scheduling of local news, so it's definitely a merger of equals rather than anything Sinclair or Nexstar.

But Scripps is also heavy with ABC affiliates, with iron-clad deals in many of their markets that date back to the 1994 affiliate switches. There is an (admittedly questionable) possbility that Scripps could switch TMJ to ABC, setting up the self-admitted 'best ABC affiliate', WISN to go to the Peacock.

Finally though I would hate to be at 4th & State tomorrow; the J-S has always had unqualified journalistic independence (though very monopolistic) and operates as if they've never had to answer to their stockholders. Under new Scripps ownership combined with Journal, that may not happen any longer.

Let the chaos begin.