Sinclair Broadcast Group has acquired an 8% stake in fellow broadcast station owner E.W. Scripps, sparking talks of a potential merger. The filing suggests a deal could be completed in nine to 12 months, with an expected $300 million in synergies. Scripps’ stock rose over 40% while Sinclair’s rose 7%.

Both Sinclair and Scripps are facing industry challenges, with Sinclair also considering spinning off its ventures unit. The move towards mergers is a response to the decline in traditional pay-TV bundles and the rise of streaming services. Nexstar Media Group recently acquired Tegna for $3.54 billion, highlighting the trend in the broadcast TV station industry.

Read more at CNBC: Sinclair acquires Scripps stake in a push to merge