Contact: Lucy Rutishauser, SVP Chief Financial Officer
SINCLAIR CLOSES ON ACQUISITION OF BONTEN MEDIA GROUP HOLDINGS, INC.
BALTIMORE (September 5, 2017) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”) announced that, on Friday, September 1st, it closed on its previously announced purchase of the stock of Bonten Media Group Holdings, Inc. (“Bonten”), and that Cunningham Broadcasting Corporation (“Cunningham”) has also completed its purchase of the membership interest of Esteem Broadcasting, for an aggregate purchase price of $240.0 million. As a result of the transaction, Sinclair added 14 television stations in eight markets and Cunningham assumed the joint sales agreements under which Sinclair will provide services to four additional stations. The acquisition was funded through cash on hand.
Read more…Bonten Close
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