BRIEF-Sinclair Inc Says It Proposed To Acquire All Outstanding Shares Of E.W.Scripps

Reuters11-25
BRIEF-Sinclair Inc Says It Proposed To Acquire All Outstanding Shares Of E.W.Scripps

Nov 24 (Reuters) - Sinclair Inc SBGI.O:

  • SINCLAIR INC: SUBMITTED TO E.W. SCRIPPS A PROPOSAL TO ACQUIRE ALL OUTSTANDING SHARES NOT ALREADY OWNED - SEC FILING

  • SINCLAIR INC: PROPOSAL FOR A POTENTIAL COMBINATION WITH E.W. SCRIPPS BASED ON APPROXIMATELY $325 MILLION IN ESTIMATED SYNERGIES

  • SINCLAIR INC: UPON CLOSING OF PROPOSED DEAL, SHAREHOLDERS OF E.W. SCRIPPS WOULD OWN APPROXIMATELY 12.7% OF THE COMBINED ENTITY

  • SINCLAIR- OFFERS TO BUY OUTSTANDING SHARES OF E.W. SCRIPPS IT DOES NOT OWN FOR $7.00/SHARE, CONSISTING OF $2.72 IN CASH,$4.28 IN SINCLAIR COMMON STOCK

  • SINCLAIR - COMBINED COMPANY WOULD MAINTAIN AN INDEPENDENT MAJORITY ON ITS BOARD

  • SINCLAIR INC: NEW PUBLICLY TRADED PARENT COMPANY WOULD RETAIN CO'S DUAL-CLASS STRUCTURE

  • SINCLAIR INC: CONFIDENT THAT UNDER EXISTING RULES, PROPOSED SCRIPPS DEAL CAN BE COMPLETED IN A TIMELY MANNER WITH LIMITED SELECT DIVESTITURES

  • SINCLAIR INC: COMBINED COMPANY WITH SCRIPPS WOULD PROPOSE ADOPTING JOINTLY DEVELOPED EDITORIAL STANDARDS AND APPOINTING AN INDEPENDENT OMBUDSMAN

Further company coverage: SBGI.O

((Reuters.Briefs@thomsonreuters.com;))

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