Broadcast giant Sinclair makes bid to buy out EW Scripps for $7 per share

Sinclair has submitted a bid to buy out E.W. Scripps for $7 per share, in a deal that could bring further consolidation across America's local TV news landscape. Under the proposal, which Sinclair disclosed Monday, the broadcast giant would acquire all of Scripps' outstanding shares that it doesn't already own. Sinclair has already upped its stake in Scripps recently — accounting for nearly 10% of the company's class A common stock as of Nov. 17, per regulatory filings.