Sinclair Makes Offer To Buy E.W. Scripps

Sinclair Broadcast Group, the nation’s second-largest local TV station owner, unveiled an unsolicited $538 million bid to acquire rival E.W. Scripps Co. on November 24, 2025, offering $7 per share in a mix of cash and stock — a premium of more than 200% over Scripps’ recent trading average.

The proposed deal would create a broadcast giant controlling 246 stations across the U.S., combining Sinclair’s 185 stations with Scripps’ 61. Sinclair, which already owns 9.9% of Scripps, projects $325 million in annual cost synergies and has set a December 5 deadline for Scripps’ board to respond.

Shares of Scripps soared as much as 8% to around $4.43 on the announcement — still well below the $7 offer — while Sinclair stock dropped nearly 2% amid concerns over dilution and execution risk.

The transaction would require FCC approval and likely limited station divestitures to comply with the current 39% national household reach cap, particularly in overlapping markets like West Palm Beach. Sinclair insists the deal can close quickly without major regulatory hurdles.

Scripps confirmed receipt of the proposal, stating its board — tightly controlled by descendants of founder E.W. Scripps who hold ~93% of voting power — will carefully evaluate the bid with financial and legal advisors, acting in the best interests of shareholders, employees, and local communities.

The bid is the latest push for scale in a local TV industry battered by cord-cutting, streaming competition, and the dominance of Big Tech in advertising, and could intensify ongoing Washington debates over loosening broadcast ownership restrictions.