Sinclair Broadcast Group, Inc.
SBGI announced that it has closed on
the previously announced acquisitions of certain television stations and, in a
new announcement, purchased WHAM-TV (ABC) in Rochester, NY from Newport
Television LLC ("Newport").
The stations acquired in the transactions that have closed, effective December
1, 2012, are:
WTTA (MNT) Tampa, Florida previously operated by Sinclair pursuant to a local
marketing agreement.
KBTV (FOX) Beaumont/Port Arthur, Texas market previously owned by Nexstar
Broadcasting.
The following stations from Newport:
WKRC (CBS) Cincinnati, Ohio
WOAI (NBC) San Antonio, Texas
WHP (CBS) Harrisburg/Lancaster/Lebanon/York, Pennsylvania
WPMI (NBC) and WJTC (IND) Mobile, Alabama
KSAS (FOX) Wichita/Hutchinson, Kansas
WHAM (ABC) Rochester, New York
Sinclair also acquired Newport's rights under the local marketing agreements
with WLYH (CW) in Harrisburg, PA and KMTW (MNT) in Wichita, KS, as well as
options to acquire the license assets.
The Company also closed on agreements with Deerfield Media, Inc.
("Deerfield"), selling Deerfield the license assets of Sinclair's station in
San Antonio (KMYS CW), and Sinclair's station in Cincinnati (WSTR MY), as well
as the license assets of WPMI and WJTC in the Mobile/Pensacola market and KBTV
in Beaumont. Sinclair will provide sales and other non-programming services
to each of these five stations pursuant to shared services and joint sales
agreements.
In a new announcement, Sinclair purchased the non-license assets of Newport's
station, WHAM-TV (ABC) in Rochester, New York for $54.0 million plus the
option for the license assets. Sinclair will provide sales and other
non-programming services pursuant to a shared service and joint sales
agreement.
The acquisitions add two new markets and additional stations in four markets
where Sinclair already has a presence. The net amount paid at closing, net of
any previously paid deposits and sale proceeds, was $459.7 million, which was
funded by the issuance of $500 million of 6.125% senior notes due 2022 earlier
this quarter.
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