Overview
- Sinclair disclosed in an SEC filing that it bought about 8.2% of Scripps’ Class A shares and has held months of “constructive” discussions about a potential merger.
- The company projected roughly $300 million in annual synergies and said a transaction would require no external financing while preserving each firm’s existing debt and preferred structures.
- Scripps’ board vowed to protect shareholders from opportunistic moves, and CEO Adam Symson told staff the talks produced no acceptable agreement and that Sinclair’s 8.2% stake grants no control or access to nonpublic information.
- Scripps shares surged about 40% following the disclosure, with Sinclair stock also advancing in Monday trading.
- Any deal would need relief from the FCC’s 39% national ownership cap under review for 2026, as consolidation pressures rise alongside Nexstar’s pending Tegna acquisition.