Akin Gump Advises Black Diamond Capital Management Through Completion of ION-Scripps Merger
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(Washington, D.C.) – The E.W. Scripps Company and Black Diamond Capital Management LLC have closed Scripps’ $2.65 billion acquisition of ION Media Networks Inc. A team from Akin Gump advised Black Diamond on FCC legal matters in the transaction, which was announced in September.
Scripps is combining ION with the Katz networks and Newsy to create a full-scale national television networks business. Together, the national networks will reach nearly every American through free over-the-air broadcast, cable/satellite, over-the-top and digital distribution, with multiple advertising-supported programming streams. With the sale, Black Diamond completes its 11-year turnaround of ION.
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The Akin Gump team advising Black Diamond was led by communications and information technology senior counsel Tom Davidson. It also included senior counsel Karen Milne, and associates Shea Boyd and Virginia Hiner.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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