Sinclair to Amend and Raise Additional Commitments Under Its Bank Credit Facility

Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc., intends to raise additional commitments under, and amend certain terms of, its existing bank credit facility.

Under the proposed terms, Sinclair would seek to add up to $530.0 million of term loans to its existing term loan facilities, which would consist of an initial $280.0 million term loan added to its existing $222.5 million tranche B term loan maturing October 2016 and an additional $250.0 million added to its existing $115.0 million tranche A term loan maturing March 2016. In addition, Sinclair would increase its existing revolving line of credit from $75.4 million to $100.0 million and extend the maturity of the revolving line of credit from 2013 to be coterminous with the term loan A maturity of March 2016. The additional term loans, along with cash on hand and/or a draw under the revolving line of credit, would be used to fund the previously announced acquisitions of Four Points Media and the television stations of Freedom Communications which are currently expected to close in early January 2012 and late March 2012, respectively.

Due to timing related to the closing and funding of the acquisitions, approximately $350.0 million of the new commitments is expected to be drawn on a delayed basis. Included among the proposed amendments to the bank credit facility are increased incremental loan capacity, increased television station acquisition capacity and more flexibility under the restrictive covenants.