SBG Closes on Acquisition of Fisher Communications, Inc.
Contacts: David Amy, EVP & CFO
Lucy Rutishauser, VP & Treasurer
SINCLAIR BROADCAST GROUP CLOSES ON ACQUISITION OF FISHER COMMUNICATIONS, INC.
BALTIMORE, MD – (August 8, 2013) – Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”) announced today that it has closed on its previously announced acquisition of Fisher Communications, Inc. valued at approximately $373.3 million, less acquired working capital.
Under the terms of the agreement, Fisher shareholders received $41.00 in cash for each share of Fisher common stock they owned. The transaction represented a 44% premium to the closing price of Fisher common stock on January 9, 2013, the final trading day prior to Fisher announcing a review of strategic alternatives.
The Fisher television stations covered by the transaction are:
Read more.. Fisher SBG Close