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One, three. From Wondery, I'm David Brown, and this is Business Wars Daily on this Thursday, October 8th.

The media consolidation continues. Scripts, a media conglomerate founded as a

newspaper publisher in 1878, is remaking itself as a broadcast TV powerhouse. With the investment

help of Warren Buffett's Berkshire Hathaway, Scripps plans to acquire one of the country's largest TV

businesses. It'll pay more than $2.5 billion to purchase true crime cable network

Ion Media, based in West Palm Beach, Florida. Ion is said to reach 100 million homes in the U.S.,

primarily with syndicated shows like Law & Order and NCIS Los Angeles. Today's Scripps is one of the

largest independent TV station owners in the country.

Both Scripps and Ion generate their revenue by selling national ads.

In a statement, Scripps said the purchase will transform the company into a national TV network's business

that will reach practically every American.

...