03:56 PM EST, 11/17/2025 (MT Newswires) -- Sinclair (SBGI) has accumulated an 8.2% stake in E.W. Scripps (SSP), contemplating a possible merger with the fellow broadcast station owner amid rising industry competition.

Sinclair said in a regulatory filing Monday that it has engaged in "constructive discussions" with Scripps for several months regarding a potential combination.

Diversified media company Sinclair owned nearly 6.3 million class A shares of Scripps as of Nov. 16, according to the filing.

E.W. Scripps' shares soared 33% ahead of market close on Monday, while Sinclair's rose 4.9%.

"Further scale in the broadcast television industry is essential to address secular headwinds and compete effectively with larger-scale big-tech and big-media players, as well as major broadcast groups," Sinclair said in the filing.

A potential deal between Sinclair and Scripps would enable the merged entity to "compete successfully for advertising share, critical programming, and distribution economics through enhanced local and national scale, coupled with disciplined execution of synergies," Sinclair said.

In August, Nexstar Media ( NXST ) agreed to acquire rival Tegna ( TGNA ) in a $6.2-billion all-cash transaction that aims to position the diversified media company to better compete with bigger names in the industry.

Scripps said it evaluates transactions to enhance the value of the company, but described Sinclair's actions as "opportunistic."

"The board will take all steps appropriate to protect the company and the company's shareholders from the opportunistic actions of Sinclair or anyone else," Scripps said in a statement.

"Scripps' board of directors and management are focused on driving value for all of the company's shareholders through the continued execution of its strategic plan."

Earlier this year, Sinclair disclosed a strategic review of its broadcast business.

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