NEW YORK (Standard&Poor's) Dec. 19, 2003—Standard&Poor's Ratings Services said today that E.W. Scripps Co.'s (A/Stable/A-1) agreement to acquire Summit America Television Inc. does not affect the company's rating or outlook. Summit, which owns a 30% minority interest in the Shop At Home television retailing network and five Shop At Home-affiliated broadcast television stations, will be acquired for about $184 million in cash. The transaction, which requires Summit shareholder and federal regulatory approvals, will be financed with commercial paper borrowings and is expected to close by June 2004. There is no meaningful change in Scripps' financial profile as a result of the planned acquisition. Based on the 12 months ended September 2003, pro forma operating lease adjusted
