Scripps shares surge as Sinclair reveals 8% stake, eyes deal

Sinclair Broadcast Group revealed it has taken an 8% stake in fellow broadcast station owner E.W. Scripps as it pushes toward a potential merger of the companies, according to a financial filing made Monday, Nov. 17, 2025,

Sinclair, which launched a strategic review of its business earlier this year, said in the filing that it has had “constructive” discussions with Scripps about a deal. It projected that, based on trading multiples, a merger could generate about $300 million in savings.

Sinclair added that it believes a transaction could be completed within nine to 12 months if an agreement is reached.

Scripps’ shares jumped more than 40% on Monday following the disclosure, while Sinclair’s stock rose 7%. Sinclair acquired the stake in Scripps for about $15.6 million.

In a statement, Scripps pushed back, saying its board “will take all steps appropriate to protect the company and the company’s shareholders from the opportunistic actions of Sinclair or anyone else.” The company said its board and management remain focused on executing Scripps’ strategic plan and evaluating any options that could enhance shareholder value.

Neither Sinclair nor Scripps commented further.

Sinclair has been among the broadcasters most eager to pursue deals, especially amid expectations of deregulation under the Trump administration that are widely expected to loosen limits on how many stations a single company can own.

In August 2025, Nexstar Media Group, the industry’s largest station owner, agreed to acquire Tegna for $3.54 billion, in a deal that would require changes to current law.

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Sinclair is also weighing a spinoff or split of its Sinclair Ventures unit, which includes The Tennis Channel and the marketing technology company Compulse, which was recently rebranded as Digital Remedy.

Earlier this year, reports indicated that Sinclair and its advisers held talks with multiple potential merger partners.