Contact: Lucy Rutishauser, SVP Chief Financial Officer
SINCLAIR ENTERS INTO AGREEMENTS TO SELL TV STATIONS RELATED TO CLOSING TRIBUNE MEDIA ACQUISITION
BALTIMORE (April 24, 2018) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the “Company” or “Sinclair”) announced that, it has entered into definitive agreements to sell television stations to Standard Media Group LLC (an affiliate of Standard General LP), Meredith Corporation (NYSE: MDP) (“Meredith”), Howard Stirk and Cunningham Broadcasting Corporation and another party to be announced, upon consummation of Sinclair’s acquisition of the stock of Tribune Media Company (NYSE:TRCO) (“Tribune”). The sales are part of Sinclair’s larger acquisition of Tribune Media Company, in order to obtain necessary governmental approval of the Tribune transaction and for other business purposes and are expected to close at the same time as the Tribune transaction. Sinclair anticipates closing near the end of the second quarter of 2018, pending customary closing conditions, including approval by the Federal Communications Commission (“FCC”) and antitrust clearance, as applicable. Moelis & Company served as exclusive financial advisor to Sinclair on these transactions.
Read more…Tribune Divest Announcement FINAL 4-24-18
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