Scripps Rejects Sinclair Hostile Takeover Bid

Television broadcaster E.W. Scripps Co. rejected an unsolicited bid from rival Sinclair Inc. to acquire the company for $7 a share in cash and stock, saying it wasn’t in the best interests of shareholders.

“The board nonetheless remains open to evaluating opportunities to enhance shareholder value and will continue to consider any course of action, including any acquisition proposal, that is in the best interest of all shareholders,” Scripps Chair Kim Williams said in a statement Tuesday.