Sinclair Pitches Scripps Merger as Local TV Looks to Consolidate

Sinclair Inc. acquired a stake in EW Scripps Co. and said it’s pursuing an acquisition of the fellow local-TV station owner.

Sinclair purchased an 8.2% stake in the company’s Class A shares for about $15.6 million, according to a filing Monday. Scripps shares were up 24% at the start of trading.

Sinclair said it has had discussions over several months with Scripps about a possible combination, which Sinclair said could yield $300 million in synergies. Sinclair owns, operates or provides services to 179 stations, while Scripps has more than 60.

Cincinnati-based Scripps is controlled by the Scripps family, a storied ...