Sinclair Issues Statement on Merger Proposal with The E.W. Scripps Company
Sinclair, Inc. (NASDAQ:SBGI) (the "Company" or "Sinclair") today made the following statement in response to The E.W. Scripps Company's (NASDAQ:SSP) ("Scripps") rejection of the Company's proposal for a potential combination with Scripps:
"We are disappointed that despite Scripps encouraging Sinclair to make a proposal, Scripps' board rejected the proposal without engaging. Our proposal was based on previous discussions and was responsive to concerns about Scripps' communities, employees and shareholders. It delivers significant strategic and financial benefits for both companies and all shareholders and represents a substantial premium over both Scripps' unaffected and current share price. We call on Scripps to engage with us regarding our proposal. We believe Scripps' shareholders deserve a full and fair evaluation of this opportunity."
About Sinclair:
Sinclair, Inc. is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 179 television stations in 81 markets affiliated with all major broadcast networks; and owns Tennis Channel, the premium destination for tennis enthusiasts, and multicast networks CHARGE, Comet, ROAR and The Nest. Sinclair's AMP Media produces a growing portfolio of digital content and original podcasts. Additional information about Sinclair can be found at www.sbgi.net.
Category: Financial
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