NEW YORK — Sinclair has submitted a bid to buy out E.W. Scripps for $7 per share, in a deal that could bring further consolidation across America’s local TV news landscape.

Under the proposal, which Sinclair disclosed Monday, the broadcast giant would acquire all of Scripps' outstanding shares that it doesn’t already own. Sinclair has already upped its stake in Scripps recently — accounting for nearly 10% of the company's class A common stock as of Nov. 17, per regulatory filings.

The proposed $7 per share price tag would consist of both cash and stock. If approved, the deal would give Scripps’ shareholders about a 12.7% stake of the combined company upon closing.

Sinclair is requesting a response from Scripps by Dec. 5.

“We are submitting an updated, actionable merger proposal,” Sincl

See Full Page