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14h ago

Scripps Downplays Takeover After Sinclair Reveals 8% Stake and Merger Overture

Any combination would depend on the FCC easing national ownership limits expected to be considered in 2026.

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The headquarters of the Sinclair Broadcast Group in Hunt Valley, Md. The company is the largest owner of local television stations in the United States.
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Overview

  • Sinclair disclosed in an SEC filing that it bought 8.2% of Scripps’ Class A shares for about $15.6 million and has held months of “constructive” merger talks.
  • Scripps CEO Adam Symson told employees a takeover is unlikely, saying discussions did not produce a shareholder‑benefiting agreement and that Sinclair’s stake confers no control or access.
  • Sinclair said a deal could close within nine to 12 months, projects more than $300 million in annual synergies, and would require no external financing while keeping each company’s debt structures.
  • Shares of Scripps jumped nearly 40% after the disclosure, while Sinclair stock also rose on the news.
  • Regulatory barriers remain as the current 39% national reach cap would constrain a tie-up, with FCC Chair Brendan Carr signaling openness to loosening ownership limits as the Nexstar–Tegna review proceeds.