Broadcast giant Sinclair makes bid to buy out EW Scripps for $7 per share

Sinclair Bids to Acquire E.W. Scripps for $7 Per Share, Advancing Media Consolidation Trend

Sinclair Broadcast Group has made an official bid to acquire E.W. Scripps for $7 per share, a move that could significantly reshape America’s local television landscape if approved. The proposal, disclosed Monday, would combine two major players in the local TV news market.

Under the terms of the offer, Sinclair would purchase all outstanding Scripps shares not already under its control. The Maryland-based broadcast giant has been strategically increasing its stake in Scripps recently, already owning nearly 10% of the company’s class A common stock as of November 17, according to regulatory filings.

The proposed $7 per share acquisition would be structured as a combination of cash and stock. If completed, the deal would give current Scripps shareholders approximately a 12.7% ownership stake in the combined entity. Sinclair has requested a response from Scripps by December 5.

“We are submitting an updated, actionable merger proposal,” Sinclair CEO Christopher S. Ripley wrote in a letter to Scripps’ board. He emphasized that the deal would “strengthen local journalism” and “position the combined company and employees for long-term success.”

Ohio-based Scripps acknowledged receipt of the “unsolicited acquisition proposal” on Monday. The company stated its board would evaluate the offer like any other, with decisions based on the interests of its stakeholders and “audiences it serves across the United States.” Scripps had previously indicated it would protect itself from any “opportunistic actions of Sinclair or anyone else.”

Market reaction was immediate, with E.W. Scripps shares climbing more than 7.5% Monday to close at $4.43. Sinclair’s stock also rose 1.41%, ending the day at $15.87 per share.

The proposed acquisition follows months of discussions between the two companies. Last week, Sinclair revealed it had been engaged in talks “regarding a potential combination” for some time, arguing that increasing its scale is “essential to address secular headwinds” in the rapidly evolving media industry.

This potential merger is part of a broader consolidation trend in broadcast media. Just this past August, industry leader Nexstar Media Group announced a $6.2 billion deal to acquire rival Tegna, further concentrating ownership in the sector.

Companies like Sinclair, Nexstar, and Tegna have consistently argued that such acquisitions allow them to compete more effectively against larger media conglomerates and technology platforms that increasingly dominate viewer attention. However, critics warn that this consolidation leads to homogenization of news content, with local stations becoming mere “duplicators” of syndicated reporting under corporate owners who may exert editorial influence over content decisions.

Sinclair currently owns, operates, or provides services to 185 television stations across 85 markets, with affiliations to all major broadcast networks. The company, which also owns the Tennis Channel, has developed a reputation for conservative viewpoints in its broadcasts.

E.W. Scripps operates more than 60 local stations in over 40 markets nationwide. Its portfolio includes national news outlets Scripps News and Court TV, as well as entertainment brands like ION.

Even if Scripps accepts Sinclair’s proposal, the deal would still require regulatory approval. Sinclair expressed confidence Monday that the transaction could be completed under existing regulations, but the regulatory landscape for media ownership could be shifting.

Last week, in an effort to complete its Tegna acquisition, Nexstar requested that the Federal Communications Commission waive current rules limiting the number of stations a single company can own. FCC Chairman Brendan Carr has previously signaled openness to revising these restrictions.

However, the potential for regulatory changes has drawn criticism from some conservatives, including former President Donald Trump, who recently expressed concerns about rule changes that might benefit networks he perceives as left-leaning. “If this would also allow the Radical Left Networks to ‘enlarge,’ I would not be happy,” Trump wrote on social media Sunday, specifically targeting ABC and NBC.

Nexstar responded by stating it believes “the landscape is ripe for regulatory reform” while adding “we agree with President Trump that the status quo is no longer acceptable.”

The outcome of Sinclair’s bid for Scripps remains uncertain as the December 5 deadline approaches, but it represents a significant moment in the ongoing transformation of America’s local media landscape.