E.W. Scripps to split into two companies

NEW YORK, Oct 16 (Reuters) E.W. Scripps Co, a television broadcaster and newspaper publisher, said on Tuesday it plans to split into two publicly traded companies.

The transaction, to be done via a dividend of stock in Scripps Networks Interactive, will create one business focused on national lifestyle media brands and another focused on local media franchises.

The Edward W. Scripps Trust would maintain control of both companies by electing a majority of board members for each.

REUTERS SI RN1837