Sinclair, Inc. filed letters with the U.S. Securities and Exchange Commission on January 16 2026 announcing a proposal to merge with The E.W. Scripps Company. The offer includes a premium that exceeds 240 % over Scripps’ unadjusted share price and a cash component that represents a 32.7 % premium, underscoring Sinclair’s willingness to pay a substantial premium for control.
Sinclair is already Scripps’ largest shareholder, holding roughly 8.2 % of the company’s non‑voting shares. The proposal follows a November 2025 unsolicited offer that was rejected by Scripps’ board. Sinclair’s move is part of its ongoing strategic review and the separation of its ventures arm, signaling a focus on consolidating its core broadcast business.
Scripps’ board declined to engage with the proposal, preferring to pursue its standalone strategy. The board’s decision reflects confidence in its own growth prospects, supported by Q4 2024 results of $728 million in revenue—an 18 % year‑over‑year increase—and $80.3 million in net income, largely driven by record political advertising. The company’s focus on portfolio optimization and debt management further strengthens its position.
Sinclair’s Q4 2024 results showed $1.004 billion in revenue, a 22 % year‑over‑year rise, and $176 million in net income. Growth was driven by political advertising and a shift toward higher‑margin content. The high premium offered reflects the potential synergies in content, distribution, and advertising that a combined network could unlock.
The proposed merger would create one of the largest local‑broadcast networks in the United States, potentially delivering scale advantages and cost efficiencies. However, Scripps’ refusal to engage signals a strategic divergence, and the deal remains contingent on regulatory approval and shareholder consent.
The announcement underscores the broader consolidation trend in the broadcast industry, as companies seek scale to compete with digital platforms. Sinclair’s focus on debt reduction and refinancing, coupled with Scripps’ portfolio optimization, positions both firms to navigate a challenging media landscape.
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