Sinclair files letters with SEC regarding Scripps merger discussions

Sinclair Inc. (NASDAQ: SBGI) filed letters with the Securities and Exchange Commission detailing its communications with The E.W. Scripps Company (NASDAQ: SSP) regarding a proposed merger.

According to the filing, Sinclair has attempted to engage Scripps in discussions about a potential combination over recent weeks. Scripps has declined these invitations and stated its preference to continue with its standalone business plan.

Sinclair's proposal includes a premium of more than 240% over Scripps' unadjusted share price, with the cash portion representing a 32.7% premium over the unadjusted share price. The company described Scripps as its single largest shareholder.

The broadcast company stated it will continue evaluating its options while proceeding with a previously announced strategic review of its broadcast business and work related to separating its Ventures division.

The complete text of the correspondence between the two companies was included in an amended Schedule 13D filing with the SEC.

Sinclair operates 179 television stations across 81 markets and owns Tennis Channel and several multicast networks. The company is based in Baltimore.

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