Sinclair, the second-biggest U.S. TV station group owner, has proposed to acquire smaller rival E.W. Scripps Co. in its entirety, offering $7 per share for stock in Scripps that it does not already own.
Sinclair disclosed the takeover bid Monday in an SEC filing and also said it has acquired a 9.9% stake in Scripps. Last week, Sinclair revealed it had bought up 8.2% of Scripps’ common shares and was in acquisition talks with the company.
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Sinclair operates and/or provides services to 185 TV stations in 85 markets, while Scripps has more than 60 stations in 40-plus markets. According to Sinclair,
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