Griffin Buys Scripps Tulsa Cluster for $12.5 Million
| RADIO ONLINE | Tuesday, June 26, 2018 | 1:09pm CT |
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 Griffin Communications |
The E.W. Scripps Company has agreed to sell its five-station cluster in in Tulsa, Ok, to Griffin Communications for $12.5 million. Griffin, an Oklahoma-based company, is purchasing KFAQ-AM (1170), KHTT-FM (106.9), KVOO-FM (98.5), KXBL-FM (99.5) and KBEZ-FM (92.9). The transaction is expected to close in the fourth quarter and was brokered by Kalil & Co. Scripps announced in January its intent to sell all its 34 radio outlets in eight markets.
"Griffin Communications has a long history of serving Oklahomans through a multiplatform approach to news and entertainment," said Scripps President/CEO Adam Symson. "We believe our Tulsa radio stations and their employees are a natural fit for Griffin and its vision.
He added, "In addition, this transaction is a promising start to the sale of our entire radio station group, which was one of the pillars of our strategy for returning value to shareholders. We expect more announcements soon."
Griffin Communications is a privately held company with a focus on Oklahoma. It owns and operates four television stations and digital platforms in Oklahoma City and Tulsa. Griffin is headquartered in Oklahoma City.
