{"id":353073,"date":"2025-12-17T00:28:11","date_gmt":"2025-12-17T00:28:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/353073\/"},"modified":"2025-12-17T00:28:11","modified_gmt":"2025-12-17T00:28:11","slug":"scripps-rejects-sinclair-unsolicited-acquisition-offer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/353073\/","title":{"rendered":"Scripps Rejects Sinclair Unsolicited Acquisition Offer"},"content":{"rendered":"

\n\tThe board of E.W. Scripps Co.<\/a> unanimously rejected the unsolicited acquisition proposal submitted by Sinclair<\/a>, the second-biggest U.S. TV station owner group, Scripps<\/a> announced Tuesday.<\/p>\n

\n\tSinclair on Nov. 24 had offered $7 per share (in a mix of cash and stock) for stock in Scripps<\/a> that it does not already own; it previously had acquired a 9.9% stake in Scripps. Sinclair\u2019s takeover move came amid Nexstar Media Group\u2019s $6.2 billion deal for Tegna, which would expand the reach of Nexstar, the No. 1 biggest TV station owner group in the U.S.\u00a0<\/p>\n

\n\tScripps said in a Dec. 16 statement, \u201cThe Scripps board determined, following a careful review and evaluation in consultation with its financial and legal advisors, that Sinclair\u2019s offer is not in the best interests of the company and its shareholders.\u201d<\/p>\n

\n\tReps for Sinclair did not immediately respond to request for comment.<\/p>\n

\n\tKim Williams, the chair of Scripps\u2019 board, said in a statement, \u201cThe board is committed to acting in the best interests of all Scripps shareholders as well as the company\u2019s employees and the many communities and audiences it serves across the United States. After careful consideration, Scripps\u2019 board determined that Sinclair\u2019s unsolicited acquisition proposal is not in the best interests of Scripps and its shareholders. The board nonetheless remains open to evaluating opportunities to enhance shareholder value and will continue to consider any course of action, including any acquisition proposal, that is in the best interest of all shareholders.\u201d<\/p>\n

\n\tSinclair operates and\/or provides services to 185 TV stations in 85 markets, while Scripps has more than 60 stations in 40-plus markets. According to Sinclair, upon closing of the Scripps acquisition, Scripps shareholders would own approximately 12.7% of the combined entity.<\/p>\n

\n\tIn the SEC filing, Sinclair commented on the FCC\u2019s current 39% ownership limit: \u201cWe are confident that under existing rules, including the national cap, the transaction [with Scripps] can be completed in a timely manner with limited select divestitures.\u201d <\/p>\n

\n\tUnder Sinclair\u2019s proposal, the combined Sinclair-Scripps company would have a market capitalization of $2.9 billion, based on a 7:1 ratio of enterprise value to EBITDA (earnings before interest, taxes, depreciation and amortization), according to Sinclair. Sinclair estimated the unified company would have about $325 million in cost synergies.<\/p>\n","protected":false},"excerpt":{"rendered":"The board of E.W. Scripps Co. unanimously rejected the unsolicited acquisition proposal submitted by Sinclair, the second-biggest U.S.…\n","protected":false},"author":2,"featured_media":311499,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54],"tags":[160815,88,30180,54294,92],"class_list":["post-353073","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tv","tag-e-w-scripps-co","tag-entertainment","tag-scripps","tag-sinclair","tag-tv"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/353073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=353073"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/353073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/311499"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=353073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=353073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=353073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}