Scripps to Acquire Harte-Hanks Outlets
E.W. Scripps Co. has agreed to pay up to $775 million for the newspapers and broadcast stations of Harte-Hanks Communications Inc. The acquisition would include Harte-Hanks’ six daily newspapers, 25 non-daily publications and KENS-TV and the radio station KENS-AM, both in San Antonio. E.W. Scripps operates TV stations and newspapers in 16 markets and syndicates the Scripps-Howard news service. Harte-Hanks, which is based in San Antonio, owns five daily newspapers in Texas--in Corpus Christi, Abilene, Wichita Falls, San Angelo and Plano. It also owns a paper in Anderson, S.C. Cincinnati-based Scripps already owns the El Paso (Texas) Herald-Post. The deal is subject to approval of the Federal Communications Commission. Scripps shares fell 12.5 cents to close at $38.125; Harte-Hanks stock rose $1.125 to close at $30.125. Both trade on the New York Stock Exchange.