Sinclair Broadcast Group, Perpetual Corp. Receive Second Request for Info on Proposed Allbritton Purchase
Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) ("Sinclair") and the parent company of Allbritton Communications Company, Perpetual Corporation ("Allbritton"), announced that they received a request for additional information from the U.S. Department of Justice ("DOJ"), also referred to as a "Second Request," in connection only with Sinclair's proposed acquisition of Allbritton's Harrisburg, PA station and its affiliate in Charleston, SC.
Although a Second Request is a standard part of the DOJ review process, it can extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, to receive DOJ approval on the proposed transactions. Sinclair and Allbritton intend to respond promptly to the Second Request. Although there can be no assurances, the parties expect the transaction to close in the first or second quarter of 2014. In addition to antitrust clearance, the transaction is subject to Federal Communications Commission (FCC) approval.
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