# Scripps Just Activated the 'Poison Pill' Defense—Here's What That Means

The E.W. Scripps Company (SSP) board just dropped a shareholder rights plan after getting hit with an unsolicited acquisition bid. Sounds boring, but this is basically the nuclear option for fending off hostile takeovers.

**Here's the play:**

Scripps will hand out one special voting right per share to shareholders starting Dec 8, 2025. These rights stay dormant until someone tries to snag 10% or more of the company. Once that happens? Things get spicy.

Anyone holding these rights can buy additional Scripps shares at a 50% discount to market price. Translation: the acquirer's stake gets massively diluted, making the whole deal way more expensive. It's a financial boobytrap.

**The real move:** This gives the board breathing room to shop around for better offers or convince shareholders the current bid is trash. The rights expire in exactly one year, so this is a temporary flex—not permanent poison.

The board can nuke the whole thing anytime for just $0.001 per right if they work out a sweeter deal. Classic boardroom defense playbook.