Broadcaster E.W. Scripps rejects Sinclair's $622 million takeover bid
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E.W. Scripps rejected Sinclair's $622 million takeover bid, deeming it not in the best interests of the company and shareholders. Sinclair, owning 8.2% of Scripps, offered $7 per share, including $4.28 in stock. Scripps remains open to future proposals to enhance shareholder value. Previously, Scripps adopted a poison pill strategy after Sinclair's bid. Sinclair aimed to expand its broadcast footprint amid challenges like cord-cutting and weaker advertising markets.
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