Scripps released a statement on the possibility of the company being taken over by Sinclair and reading between the lines, it sounds like they are not happy.

“The company’s board has and will continue to evaluate any transactions and other alternatives that would enhance the value of the company and would be in the best interest of all company shareholders. Likewise, the board will take all steps appropriate to protect the company and the company’s shareholders from the opportunistic actions of Sinclair or anyone else.”

This is a problem when your stock sits around $2 a share. Any company that wants to start acquiring shares can do so at a margin basement price.

A hostile takeover is hard to stop when your stock sells for less than a McDonald’s hamburger