E.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial adviser to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.
The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell. Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview. If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.
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