EW Scripps exploring sale of Black-culture broadcast network Bounce TV

EW Scripps, a prominent local TV broadcaster in the US, has engaged a financial advisor to assess the interest in acquiring Bounce TV, its free over-the-air network targeted towards African Americans. The move follows last year’s unsuccessful attempt to sell Black entertainment company BET Media Group by Paramount Global. Certain parties, including Black-owned production studios and media firms that considered buying BET, have expressed interest in acquiring Bounce TV. If the deal proceeds, it could fetch a price in the hundreds of millions. Scripps hopes to finalize the transaction by mid-year or the third quarter.