The E.W. Scripps Co. has said no. Sinclair Inc. appears it will not easily take no for an answer, as the broadcast TV station ownership group and parent of broadcast tower manufacturer Dielectric has provided investors with an update on its one-sided merger proposal discussions with the Cincinnati-headquartered Ion Network parent.
In a SEC filing made Friday, Sinclair provided the Securities and Exchange Commission the full text of letters exchanged between it and Scripps.
In doing so, Sinclair issued a statement:
Over the last few weeks, Sinclair has continued to reinforce to Scripps its willingness to engage on a proposed Sinclair-Scripps combination. Scripps has refused the invitations to speak with its single largest shareholder and instead has stated its preference to execute its standalone plan. Our last proposal to Scripps represents a premium of more than 240% over Scripps’ unadjusted share price, while the cash portion alone represents a 32.7% premium over the unadjusted share price. We believe this proposal is attractive to Scripps’ shareholders and, at a minimum, is worthy of engagement. As we evaluate our options, the previously announced strategic review of Sinclair’s Broadcast business and work related to the separation of Ventures will continue. Our Board and management team are committed to unlocking the full potential of both businesses and driving continued value creation for all Sinclair shareholders.
The full text of the letters between Sinclair and Scripps has been filed in an amended Schedule 13D with the SEC. And, it is likely to put a further spotlight on Sinclair’s spunk and bravado as it attempts a hostile takeover of Scripps.
For shareholders, Sinclair’s announcement wasn’t necessarily met with cheer, as “SSP” fell by 2.3% to $3.6050 as of 11:45am Eastern. While “SSP” has enjoyed healthy growth since November 6, soaring from $1.5414 to $4.90 a share on December 5, 2025, Scripps shares are down by nearly 68% in value since January 2021.
Sinclair shares were priced at $15.15 as of 11:45am Eastern and have remained largely steady, rising 2% over the past year.
