Sinclair Acquires Stations in $200 Million Deal B&C
Sinclair Broadcast Group is purchasing television stations in four markets from Cerberus Capital Management in a $200 million purchase, B&C reports.
The Four Points Media stations are KUTV-KMYU-TV, Salt Lake City; KEYE-TV, Austin; WTVX-WTCN-WWHB-TV, West Palm Beach; and WLWC-TV, Providence. The purchase, subject to regulatory approval, is expected to close in the first quarter of 2012.
Said Sinclair President and CEO David Smith: "We are very excited about the acquisition of the Four Points television stations and welcome their employees into Sinclair. The stations, which are in prime middle-markets, are a perfect complement to our portfolio of assets and TV footprint."
The deal is the largest station acquisition in years, the story notes.