The board of E.W. Scripps Co. unanimously rejected the unsolicited acquisition proposal submitted by Sinclair, the second-biggest U.S. TV station owner group, Scripps announced Tuesday.
Sinclair on Nov. 24 had offered $7 per share (in a mix of cash and stock) for stock in Scripps that it does not already own; it previously had acquired a 9.9% stake in Scripps. Sinclair’s takeover move came amid Nexstar Media Group’s $6.2 billion deal for Tegna, which would expand the reach of Nexstar, the No. 1 biggest TV station owner group in the U.S.
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Scripps said in a Dec. 16 statement, “The Scripps board
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