E.W. Scripps Enters Deal To Sell Triton Digital - Quick Facts

(RTTNews) - The E.W. Scripps Company (SSP) has entered into an agreement with iHeartMedia (IHRT) to sell Triton Digital for $230 million. Scripps would use proceeds from the Triton sale to pay down debt. The transaction is expected to close in the first quarter.

"The sale of Triton creates significant value for Scripps' shareholders and employees, as we close a chapter on our growth of digital audio businesses through a series of successful transactions and a focus on prudent operations, including our core TV business," said Adam Symson, Scripps president and CEO.