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Report: E.W. Scripps to buy ION Media

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E.W. Scripps Co. is nearing a deal to acquire ION Media for nearly $2.7 billion, people familiar with the matter told The Wall Street Journal.

The deal is backed by Warren Buffett’s Berkshire Hathaway Inc., which plans to make a $600 million investment in Scripps to help finance the deal.

Scripps' purchase of ION Media would double its television station market count.

Read more from The Wall Street Journal.

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