Overview
- The offer totals $7 per share, split between $2.72 in cash and $4.28 in combined-company stock, with shareholders able to elect cash or stock subject to proration.
- Scripps acknowledged receipt of the proposal and said its board will review it with advisers, adding that no shareholder action is required during the evaluation.
- Sinclair projects about $325 million in cost synergies and a roughly $2.9 billion market capitalization for the combined company, with Scripps investors owning about 12.7% at closing.
- The execution plan separates Sinclair’s ventures business from its broadcast operations before merging with Scripps, maintains a dual-class structure and independent board majority, includes family representation, and keeps significant operations in Cincinnati and Hunt Valley with shared editorial standards overseen by an independent ombudsman.
- Sinclair said the deal can clear under current FCC rules with limited divestitures, as consolidation in local TV is under review in parallel cases such as Nexstar’s pursuit of Tegna.