Sinclair Inc

SBGI

Market cap $1.1B

Sinclair, Inc. (SBGI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, SBGI's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.

U.S. broadcaster Sinclair has offered to buy E.W. Scripps in a cash-and-stock deal that values its smaller rival at $538 million, as cord-cutting and competition from streaming services lead to consolidation in the media industry.

Nexstar and Sinclair's stocks fell after President Trump went against his FCC head, saying that removing a cap on TV-station ownership would hurt Republicans.

Scripps said it will carefully review and evaluate the proposal.

BALTIMORE & CHICAGO--(BUSINESS WIRE)--Sinclair today announced the company will partner with Feeding America® to launch Sinclair Cares: Fill the Food Banks, a fundraising campaign to help provide meals to families across the U.S. during the holiday season. The initiative, which begins today, will run through December 25. Through financial contributions, viewers can help provide access to meals for members of their local communities. All donations will directly benefit the Feeding America food b.

The FCC has moved to loosen restrictions on local TV ownership, and remove caps on how many TV stations one company can own, which could pave the way for a Sinclair-Scripps merger

Sinclair is eyeing a takeover of its local media rival, but Scripps may not be ready to sell just yet.

Sinclair acquired a roughly 8% position in Scripps, it disclosed Monday. The broadcast stations owner has been undergoing a strategic review of its business and holding discussions with potential merger partners.

U.S. broadcaster Sinclair on Monday disclosed an 8.2% stake in smaller rival E.W. Scripps and said it has been in talks for months about a deal that would combine the companies.

Sinclair believes scale is increasingly necessary in the broadcast TV industry and bought up the stake to pressure Scripps to strike a deal.