All articles tagged with #ew scripps
E.W. Scripps' board unanimously rejected Sinclair's $622 million bid to acquire the company, citing it was not in the best interests of shareholders, though Scripps remains open to future proposals. Sinclair, which already owns 8.2% of Scripps, aimed to expand its broadcast footprint amid industry shifts, but Scripps has taken defensive measures like a poison pill to protect its interests.
EW Scripps CEO Adam Symson believes that Wall Street's reaction to the new sports joint venture is overblown, as investors seem to be overlooking the inclusion of local ABC and Fox affiliates in the new bundle. He stated that affiliates will be compensated for being carried along and that the joint venture will work collaboratively with all local broadcast affiliate partners. Symson also expressed skepticism about the potential success of the new bundle, suggesting that a smaller bundle at a price of $40 or $50 per month probably won't have a large audience, and that sports fans won't be satisfied with a partial offering.