Scripps to Sell Fox Affiliate WFTX to Sun Broadcasting for $40 Million

Scripps has reached an agreement to sell WFTX, its Fox affiliate station in Fort Myers, Florida, to local private radio and TV broadcaster Sun Broadcasting for $40 million. The deal is expected to close in the fourth quarter, subject to regulatory and other customary approvals. Scripps noted it "does not require relief from any of the current rules governing television station ownership." Scripps president and CEO Adam Symson said the company would use cash from the WFTX sale to pay down its debt. "The sale of WFTX to Sun Broadcasting will put the station in the hands of a locally based . . .