Sinclair Takes 8.2% Stake In Scripps' Class A Shares

(RTTNews) - Sinclair, Inc. (SBGI), a diversified media company, on Monday announced it has acquired approximately 8.2% of the outstanding Class A shares of The E.W. Scripps Company (SSP), a broadcasting company.

Scripps said its board and management remain focused on driving value for all shareholders through continued execution of its strategic plan.

The company added that its board will continue to evaluate any transactions or alternatives that could enhance shareholder value.

Scripps also emphasized that it will take all appropriate steps to protect the company and its shareholders from what it described as opportunistic actions by the company or any other party.

In the pre-market trading, Sinclair is 1.93% higher at $16.39 on the Nasdaq.