Scripps' board unanimously rejects Sinclair's acquisition proposal, citing it isn't beneficial for the company or shareholders.
Quiver AI Summary
The E.W. Scripps Company announced that its board of directors has unanimously rejected an unsolicited acquisition proposal from Sinclair, Inc., which offered $7 per share in cash and stock for the outstanding shares of Scripps. After careful review with financial and legal advisors, the board determined that Sinclair's offer is not in the best interests of Scripps and its shareholders. Scripps' chair, Kim Williams, emphasized the board's commitment to acting in the best interests of all shareholders, employees, and communities served by Scripps. The company remains open to exploring opportunities to enhance shareholder value.
Potential Positives
- The board's unanimous rejection of the acquisition proposal from Sinclair indicates strong alignment among directors about the company's future direction.
- By prioritizing the best interests of shareholders, employees, and communities, Scripps reinforces its commitment to stakeholder value and responsible governance.
- The press release emphasizes Scripps' position as a significant local broadcaster with an established presence in 40+ markets, showcasing its operational scale and relevance.
- Scripps' openness to evaluating other opportunities suggests a proactive approach to enhancing shareholder value, which could attract interest from investors.
Potential Negatives
- The board's rejection of Sinclair's acquisition proposal could indicate that Scripps may not be maximizing shareholder value, raising concerns among investors about the company's strategic direction.
- The rejection may lead to potential negative market reactions or loss of investor confidence, particularly if Sinclair's proposal was perceived as beneficial by some shareholders.
- By rejecting an acquisition offer, Scripps risks missing out on immediate financial benefits that could enhance shareholder value, especially if the market conditions worsen in the future.
FAQ
Why did the Scripps board reject Sinclair's acquisition proposal?
The Scripps board unanimously decided the proposal was not in the best interests of the company and its shareholders.
What was the financial offer from Sinclair?
Sinclair offered $7 per share in a mix of cash and stock to acquire outstanding shares of Scripps.
Who advised Scripps during this decision?
Morgan Stanley & Co. acted as the financial advisor, and Weil, Gotshal & Manges LLP served as legal advisor to Scripps.
What is Scripps' commitment to its stakeholders?
Scripps is dedicated to acting in the best interests of its shareholders, employees, and communities across the U.S.
What are Scripps’ future plans regarding acquisitions?
The board remains open to evaluating opportunities to enhance shareholder value, including future acquisition proposals.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SSP Revenue
$SSP had revenues of $525.9M in Q3 2025. This is a decrease of -18.64% from the same period in the prior year.
You can track SSP financials on Quiver Quantitative's SSP stock page.
$SSP Hedge Fund Activity
We have seen 59 institutional investors add shares of $SSP stock to their portfolio, and 86 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PENN CAPITAL MANAGEMENT COMPANY, LLC added 2,169,640 shares (+151.7%) to their portfolio in Q3 2025, for an estimated $5,337,314
- NEW YORK STATE COMMON RETIREMENT FUND added 1,361,721 shares (+142.3%) to their portfolio in Q3 2025, for an estimated $3,349,833
- RUSSELL INVESTMENTS GROUP, LTD. added 1,151,092 shares (+886.8%) to their portfolio in Q3 2025, for an estimated $2,831,686
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 1,015,964 shares (+35.8%) to their portfolio in Q3 2025, for an estimated $2,499,271
- SCHONFELD STRATEGIC ADVISORS LLC removed 803,920 shares (-44.6%) from their portfolio in Q3 2025, for an estimated $1,977,643
- ASSENAGON ASSET MANAGEMENT S.A. removed 623,899 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $1,534,791
- D. E. SHAW & CO., INC. removed 579,939 shares (-16.6%) from their portfolio in Q3 2025, for an estimated $1,426,649
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CINCINNATI, Dec. 16, 2025 (GLOBE NEWSWIRE) -- The E.W. Scripps Company (NASDAQ: SSP) board of directors has unanimously decided to reject the unsolicited acquisition proposal submitted by Sinclair, Inc. on Nov. 24, 2025, to acquire all of the outstanding shares of Scripps that it does not already own for $7 per share in a mix of cash and stock. The Scripps board determined, following a careful review and evaluation in consultation with its financial and legal advisors, that Sinclair’s offer is not in the best interests of the company and its shareholders.
Kim Williams, the chair of Scripps’ board, said, “The board is committed to acting in the best interests of all Scripps shareholders as well as the company’s employees and the many communities and audiences it serves across the United States. After careful consideration, Scripps’ board determined that Sinclair’s unsolicited acquisition proposal is not in the best interests of Scripps and its shareholders. The board nonetheless remains open to evaluating opportunities to enhance shareholder value and will continue to consider any course of action, including any acquisition proposal, that is in the best interest of all shareholders.”
Advisors
Morgan Stanley & Co. is acting as financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor to Scripps.
| Investor contact: | Carolyn Micheli, The E.W. Scripps Company, (513) 977-3732, [email protected] |
| Media contacts: |
Becca McCarter, The E.W. Scripps Company, (513) 410-2425,
[email protected]
Edelman Smithfield, [email protected] |
About Scripps
The E.W. Scripps Company
(NASDAQ: SSP) is a diversified media company focused on creating connection. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of more than 60 stations in 40+ markets. Scripps reaches households across the U.S. with national news outlets Scripps News and Court TV and popular entertainment brands ION, ION Plus, ION Mystery, Bounce, Grit and Laff. Scripps is the nation’s largest holder of broadcast spectrum. Scripps Sports serves professional and college sports leagues, conferences and teams with local market depth and national broadcast reach of up to 100% of TV households. Founded in 1878, Scripps is the steward of the Scripps National Spelling Bee, and its longtime motto is: “Give light and the people will find their own way.”
Forward-looking statements
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