Its loss was in line with analysts’ consensus estimates. Scripps' quarterly revenue of $337.5 million came in higher than the year-ago quarter’s $283.4 million.The figure was also higher than the $335 million that analysts surveyed by FactSet had expected. Revenue from local media was $237 million, +11% higher compared to the same quarter a year ago, while national media revenue was $98.5 million, marking an increase from $68.2 million last year. CEO Adam Symson seems sanguine about Scripps' M&A strategies.

CBS and Viacom are reportedly not yet ready to announce a merger – atleast not by Thursday when CBS reports its quarterly earnings. According to a CNBC report, sources familiar with matter indicated that the media giants are still deliberating/negotiating on the exchange ratio for the merger.Speculations are rife that a deal could be announced in the coming days. Shari Redstone, vice chairwoman of the board at CBS and Viacom, has suggested for a deal that boosts the combined company’s position in the media market and allow it to compete better with tech behemoths (including Amazon and Apple) for entertainment and sports rights, like the National Football League.  CBS currently owns NFL broadcast rights until 2022 – it is apparently determined to do what it takes to renew them. The merger, if goes through, is expected to see Viacom CEO Bob Bakish take over as CEO of the combined company, according to sources (as mentioned by CNBC). 

American broadcasting giant Nexstar Media Group is set to overtake its arch rival, Sinclair Broadcast Group, (SBGI) which is currently the largest US local TV operator.Additionally, this deal would also give Nexstar access to the Food Network, where Tribune has a stake along with access to a number of websites which Tribune owns.