If you are a fan of Bounce TV, the over-the-air network focused on African American audiences, you may be interested in some recent news. E.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV. This news comes after Paramount Global explored the sale of BET Media Group last year.
Interested parties, including those with Black leadership, have approached Scripps with offers for Bounce TV. The potential sale could fetch hundreds of millions of dollars. Scripps CEO, Adam Symson, recently spoke to CNBC about the increased interest in Bounce TV, emphasizing the network’s value and potential for growth under new ownership.
Bounce TV has seen a rise in viewership in recent years, with ratings improving on both linear and connected TVs. Despite challenges faced by legacy media, Bounce TV’s unique content and target audience have helped drive increased revenue for the network.
One interesting aspect of this potential sale is the growing trend of advertising agencies and big brands specifically earmarking funds for minority-owned businesses. This trend could significantly impact the value of media assets like Bounce TV if sold to Black owners.
With exciting projects like the upcoming comedy series “Mind Your Business” set to premiere on June 1, Bounce TV continues to captivate audiences with its diverse programming. As the network explores new ownership opportunities, the future looks promising for this innovative and engaging platform.
Stay tuned for updates on the potential sale of Bounce TV and the impact it could have on the media landscape. Follow Extreme Investor Network for more exclusive business news and insights.
