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Broadcast giant Sinclair makes bid to buy out EW Scripps for $7 per share
Sinclair's $7 per share bid offers a 200% premium and aims to create $325 million in synergies while maintaining local operations in Cincinnati and Hunt Valley.
- Sinclair, Inc. has submitted an unsolicited proposal to acquire E.W. Scripps Co. for $7 per share in cash and stock.
- The proposed deal would give Scripps' shareholders about a 12.7% stake in the combined company upon closing.
- Scripps acknowledged receiving the unsolicited proposal and said its board will review it to determine the best course of action.
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One Media Giant Moves to Take Over Another
Sinclair has submitted a bid to buy out EW Scripps for $7 per share, in a deal that could bring further consolidation across America's local TV news landscape. Under the proposal, which Sinclair disclosed Monday, the broadcast giant would acquire all of Scripps' outstanding shares that it doesn't already own....
·Miami, United States
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Coverage Details
Total News Sources25
Leaning Left6Leaning Right2Center8Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 38%
C 50%
12%
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