Sinclair Acquires Stations in $200 Million Deal

Sep 9, 2011  •  Post A Comment

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.

 

One Comment

  1. You forgot the purchasing company CEO’s famous last words: “We anticipate no significant changes to our newly purchased properties.”

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