NEW YORK — Broadcast giant Sinclair has taken a more than 8% stake in E.W. Scripps, as it eyes a potential merger with the smaller local TV rival.

In a regulatory filing on Monday, Sinclair disclosed that it purchased 8.2% of Scripps' Class A common stock “in contemplation” of a wider bid to acquire the company.

Sinclair said that it had held months of talks “regarding a potential combination" with Scripps — and maintained that increasing scale overall is “essential to address secular headwinds and compete effectively” in the U.S. media landscape, pointing to growing competition and other recent consolidation seen across the industry.

Scripps acknowledged Sinclair's new stake and maintained its board would “continue to evaluate any transactions” in the best interest of shareholders. But

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