Sinclair Announces Agreement To Purchase Bonten Media Group TV Stations
Contact: Lucy Rutishauser, SVP Chief Financial Officer
(410) 568-1500
SINCLAIR BROADCAST GROUP ANNOUNCES AGREEMENT TO PURCHASE BONTEN MEDIA GROUP TV STATIONS
BALTIMORE (April 21, 2017) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the “Company” or “Sinclair”) announced that it has entered into a definitive agreement to purchase the stock of Bonten Media Group Holdings, Inc. (“Bonten”) and Cunningham Broadcasting Corporation has entered into a definitive agreement to purchase the membership interest of Esteem Broadcasting (“Esteem”) for an aggregate purchase price of $240.0 million. Bonten owns 14 television stations in 8 markets which reach approximately 1% of the U.S. TV households and provides services to 4 stations pursuant to joint sales agreements with Esteem Broadcasting. Completion of the transaction is subject to the satisfaction of customary closing conditions, including approval by the Federal Communications Commission (“FCC”) and antitrust clearance, as applicable. The Company anticipates that the transaction will close and fund with cash on hand in the third quarter of 2017, subject to the satisfaction of the closing conditions.
Read more…Bonten – Press Release CLEAN
RECENT NEWS RELEASES
- May 25, 2022
- Sinclair Broadcast Group Wins Four Telly Awards
- May 23, 2022
- Diamond Sports Group Names Michael Schneider Chief Operating Officer and General Manager of Bally Sports Direct-to-Consumer Business
- May 11, 2022
- Sinclair Names Scott Ehrlich as Company’s First Chief Innovation Officer
- Sinclair Names Ryan Moore Chief Revenue Officer and SVP of Digital Sales and Sports
- May 4, 2022
- Sinclair Declares $.025 Per Share Quarterly Cash Dividend
- Sinclair Reports First Quarter 2022 Financial Results
- May 2, 2022
- Diamond Sports Announces New Board of Managers
- April 29, 2022
- Sinclair Broadcast Group Wins Six National Headliner Awards
- April 21, 2022
- Sinclair Closes Refinancing and Extension of STG Credit Facilities
- Sinclair Broadcast Group Names Kayla Gaskins National Correspondent for Washington DC Bureau