EW Scripps Up as Sinclair Buys Stake for Possible Merger (1)

(Updates with share price move.)

EW Scripps shares jump 23% in premarket trading on Monday after Sinclair took a 8.2% stake in the news multimedia company as part of a potential merger strategy that the pair have been discussing for several months, according to a 13D filing.

• Sinclair estimates the strategy would result in more than $300 million in annual synergies
• The proposed merger would not require any new external financing
• MORE: EW Scripps Vows to Protect Holders After Sinclair Stake Buy

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Janine Panzer in New ...