Scripps completes divestiture of its radio division

E.W. Scripps has completed its sale of eight radio stations, which marks the final steps of divesting its radio division. The media company sold stations in Boise, ID and Tucson, AZ to Lotus Communications for $8 million. Proceeds from the four deals comprising the divestiture totaled $83.5 million, or about $55 million after tax.

Scripps announced its plans to sell off its radio presence in January as part of a bigger restructuring plan. The company followed through on those plans with several other moves in other media formats. These included a rebranding of its podcasting efforts under the Stitcher name instead of under Midroll Media in September. It also acquired ratings service and audio analytics company Triton Digital in the fall, with the deal closing this month.