US EditionSinclair takes 8% stake in EW Scripps as broadcaster eyes potential acquisition
Sinclair acquired a $15.6 million stake and targets $300 million in annual synergies in a merger that could close within 9 to 12 months, boosting scale against tech competitors.
- Sinclair acquired a roughly 8% stake in EW Scripps, as the broadcaster eyes a potential acquisition.
- Sinclair said in a filing that it has been engaged in constructive discussions regarding a deal and believes if an agreement is reached, a transaction could be completed within nine to 12 months.
- Sinclair said in the filing that based on trading multiples there would be an expected $300 million in synergies if a merger were to take place, while Scripps stated it will take steps to protect the company and shareholders from Sinclair's opportunistic actions.
37 Articles
37 Articles
Nation’s second biggest TV station owner looks to buy owner of 60 stations in more than 40 markets
Sinclair, the second-biggest U.S. TV station group owner, disclosed that it has acquired an 8.2% stake in the E.W. Scripps Co. and has been in talks for several months about buying Scripps.Sinclair, which operates and/or provides services to 185 TV stations in 85 markets, said it has “engaged in constructive discussions with [Scripps] for several months regarding a potential combination of the two companies” in a filing with the SEC Monday. Sinc…
Scripps stock hits 1-1/2 year high after Sinclair discloses 8.2% stake
Shares of TV station operator E. W. Scripps (SSP) hit a one-and-a-half-year high after larger rival Sinclair (SBGI) disclosed that it has taken an 8.2% stake in the company in a push to buy it out and unlock more than $300M in synergies.
Sinclair Broadcasting buys 8% stake in E.W. Scripps in a push toward a takeover
Sinclair Broadcasting took the first step toward what it hopes will be the takeover of competitor E.W. Scripps. On Monday morning, Sinclair filed paperwork with the Securities and Exchange Commission […] The post Sinclair Broadcasting buys 8% stake in E.W. Scripps in a push toward a takeover appeared first on Poynter.
Sinclair Is Buying More ABC, CBS, FOX, and NBC Locals From E.W. Scripps
Sinclair Broadcast Group, the nation’s second-largest owner of local television stations, filed a disclosure with the Securities and Exchange Commission on Monday revealing that it has purchased an 8.2 percent stake in smaller rival E.W. Scripps Company and has spent several months holding private discussions about a full acquisition of the Cincinnati-based broadcaster. The filing […] The post Sinclair Is Buying More ABC, CBS, FOX, and NBC Local…
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
