Sinclair Broadcast Group, the Cockeysville, Maryland-based multiple U.S. TV station owner, is looking to buy E.W. Scripps’ 60 local TV stations serving 40 U.S. TV markets.
Currently, Sinclair owns 178 local TV stations serving 80 U.S. TV markets. Previously, Sinclair made an offer to combine its broadcast TV operations with Tegna, another major owner of local stations, but ultimately Tegna preferred to sell its stations to Nexstar for $6.2 billion.
To put pressure on the unsolicited bid, Sinclair acquired eight percent of the Cincinnati-based E.W. Scripps, which has a market value of $270 million. However, Scripps stated that it would “take all steps appropriate to protect the company.”
Broadcast TV companies are consolidating to face lower cable rebroadcast fees, and to better bargain for payments to affiliate TV networks.
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