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Story summary
- Sinclair Broadcast Group has acquired an 8.2% stake in E.W. Scripps for $15.6 million, signaling potential merger talks.
- Sinclair aims for a deal that could yield $300 million in annual synergies within nine to twelve months.
- E.W. Scripps operates over 60 local stations and is exploring options.
- Sinclair's stake does not grant it control over Scripps' strategic direction.
- Critics warn the consolidation could reduce competition and homogenize local news content.
