Scripps receives unsolicited acquisition proposal from Sinclair

The E.W. Scripps Company (NASDAQ: SSP) confirmed it received an unsolicited acquisition proposal from Sinclair, Inc. (NASDAQ: SBGI), according to a company statement released Sunday.

Scripps said shareholders do not need to take any action at this time. The company's board of directors will review and evaluate the proposal in consultation with legal and financial advisors to determine what course of action serves the best interests of the company, shareholders, employees and communities it serves.

The Cincinnati-based media company stated it does not intend to provide further comments on Sinclair's proposal until the board completes its review process.

Scripps operates as a diversified media company with more than 60 television stations across 40 markets, making it one of the nation's largest local TV broadcasters. The company also operates national news outlets including Scripps News and Court TV, along with entertainment brands ION, Bounce, Grit and Laff.

Sinclair, based in Hunt Valley, Maryland, is a television broadcasting company that owns and operates television stations across the United States.

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