SBG Reports Q3-13 Results; Declares $0.15 Quarterly Dividend per Share

Press Release

Contact: David Amy, EVP & Chief Financial Officer
Lucy Rutishauser, VP-Corporate Finance & Treasurer
(410) 568-1500

SINCLAIR REPORTS THIRD QUARTER 2013 FINANCIAL RESULTS

• EARNS $0.36 DILUTED EARNINGS PER SHARE
• DECLARES $0.15 QUARTERLY DIVIDEND PER SHARE

BALTIMORE (November 6, 2013) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI), the “Company” or “Sinclair,” today reported financial results for the three months and nine months ended September 30, 2013.

“Our third quarter 2013 results showed an increase of 11.0% in net broadcast revenues on a same station basis, excluding political revenues, which was driven by growth in our retransmission revenues and core business,” commented David Smith, President and CEO of Sinclair. “We are pleased with our solid third quarter results and expect to continue to grow our revenue share and provide additional value to our shareholders through our station acquisitions and the synergies and efficiencies of scale that we are creating as we continue to consolidate. Including all pending station acquisitions, we are the largest and one of the most diversified TV broadcasters in the country and have been the most active TV broadcasting consolidator with over $3.0 billion in assets purchased and announced. Television continues to be the preferred medium for advertisers and consumers top choice for news and entertainment. As we look ahead, we are beginning to assess other possible avenues for growth after the industry consolidates, including enhancing our original content offerings and distribution, the pursuit of strategic partnerships and monetizing spectrum holdings, all with the intent of creating additional value for our shareholders.”

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SBG Comments on Inaccurate & Irresponsible Report Released by Free Press

Press Release

Contact: Barry Faber, EVP & General Counsel
(410) 568-1500

Sinclair Comments on Inaccurate and Irresponsible Report Released by Free Press

BALTIMORE (October 24, 2013) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) commented today on a recent anti-consolidation “report” by the so-called “public interest” group, Free Press, that misrepresents not only the completely legal actions by numerous broadcast companies, but also the impact of such structures on news coverage in local markets. Such statements are particularly egregious given that Sinclair reached out to Craig Aaron, the President and CEO of Free Press, earlier this year to provide facts completely contrary to the statements in Free Press’ Report and offered to discuss the issues further with Mr. Aaron. Sinclair received no response whatsoever to the letter sent to Mr. Aaron, a copy of which is attached to this press release, indicating that Free Press does not wish to have the facts interfere with its political agenda.

Despite the actions of broadcasters in providing services to television stations they do not own being completely legal, publicly disclosed and fully considered and approved by the Federal Communications Commission (“FCC”), Free Press outrageously claims broadcasters are engaging in “covert” arrangements, using “loopholes” and acting “in direct violation of the law.” In addition, despite specific evidence to the contrary, Free Press claims that, “[t]his wave [of acquisitions] is leaving in its wake shuttered newsrooms and jobless journalists in communities all across the country” resulting in “the devastation of community-centered journalism.” Such inaccurate, irresponsible and potentially defamatory comments made by a group that declined a direct offer from Sinclair to become better informed, demonstrates the bias and complete lack of credibility of Free Press, which should be taken into account when considering all past and future comments the group makes.

David Smith, President and CEO of Sinclair, commented, “To set the record straight, every transaction we have entered into completely complies with the law and the regulations of the FCC and where required, as was true in most cases, were approved by the FCC after full disclosure of each aspect of our transactions. While we respect the right of Free Press to express its opinion on the advisability of the FCC’s rules, we vehemently object to their misguided and offensive claims that broadcasters who simply follow the FCC’s rules are using “shell companies” and “shady tactics” to “dodge” FCC rules.

“Moreover, contrary to the apparently intentionally uninformed views expressed by Free Press, there is no question on the positive contributions and the substantial investments we have made in the local markets we operate, especially in the newsrooms. In the past 18 months alone, we have added a net 77 positions across our organization, of which 72 were news related. Many of the stations we purchased were dressed for sale, emerging from bankruptcy or under invested by their prior owners. We have fully staffed those stations, as well as made significant investments in capital upgrades, programming and promotion.

“Not only have we created jobs, but we have added 81 hours of local news per week, allowing us to deliver an increasing number of meaningful local news stories to our viewers. We have made significant investments to upgrade stations to high-definition newscasts so that our consumers can have a high-quality news experience. But most importantly, through our news efforts, we have helped countless communities in crisis recover, most recently in Moore and Oklahoma City where, through our local news stations, our Sinclair Relief Fund raised more than $600,000 for local charities to help those communities recover from tragedy.

“In the past year, Sinclair TV stations have held more than 40 ‘Your Voice Your Future’ live town halls around the country focusing on important local issues including gun control, same-sex marriage, the Patient Protection & Affordable Care Act, immigration, public education, and jobs. More than 3,500 members of the public have attended these public service events and countless more have participated live using social media. These town hall telecasts have received widespread praise and have been recognized with Awards for Excellence by New York State Broadcasters and Maine Association of Broadcasters and have been awarded an Emmy and an Associated Press award. In addition, our stations have created public and community service segments within the local news to discuss and educate the viewer on important topics.

“All told, we currently produce more than 1,055 hours of local news every single week and the inaccurate comments of Free Press are an affront to the almost 5,600 hardworking and dedicated professionals that work for Sinclair. Our news employees have dedicated their careers to providing the public with vital news and information and serving as government watchdogs on their behalf. We could not be prouder of their outstanding efforts, often in the face of very difficult circumstances involving natural disasters and other dangerous situations. While Free Press chooses to ignore the facts, those with a less biased and more informed nature have instead lauded these efforts. For 2012 alone, stations which we own or provide news programming to won 27 Emmy Awards, 93 Associated Press / State Broadcaster Awards, 14 other acclaimed awards, including 3 Murrows; for outstanding journalism, best investigative reporting, and excellence in news coverage, among other news related assignments.

“It is unfortunate and ironic that so-called ‘media watch dog groups,’ such as Free Press, would flaunt the First Amendment to spew unsubstantiated attacks on those who are truly serving the public’s interest. When an organization, such as Free Press, uses a 1945 quote regarding promoting diverse viewpoints to chide and insult the Federal Communications Commission’s ethics and intelligence, without recognizing the changes in the dissemination of information that have occurred in the last almost 70 years, then that should be a red flag that the organization is not working in the public’s best interest and is simply disconnected to the real world and its multiple voices found in newspapers, cable networks, radio, outdoor, television and the Internet. Their own comments demonstrate that the issue is not one of too few voices, but rather that not everyone who uses the press to promote their own agenda is credible.”

About Sinclair Broadcast Group, Inc.:
On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 162 television stations in 77 markets. Sinclair’s television group will reach approximately 38.7% (24.3% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair owns equity interests in various non-broadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

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SBG Raises Additional Term Loans and Revolving Commitments and Amends Certain Loan Terms

Press Release

Contact: David Amy, EVP & CFO
Lucy Rutishauser, VP Corporate Finance & Treasurer
(410) 568-1500

Sinclair Raises Additional Term Loans and Revolving Commitments and Amends Certain Loan Terms

BALTIMORE (October 23, 2013) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has raised incremental term loans and revolving commitments and amended certain terms of its bank credit facility.

Sinclair raised $450.0 million of incremental term loans, which consisted of $200.0 million in incremental delayed draw term A loans maturing April 2018 and priced at LIBOR plus 2.25%, and $250.0 million in incremental term B loans maturing April 2020 and priced at LIBOR plus 2.25% with a 0.75% LIBOR floor. In addition, Sinclair obtained an additional $57.5 million of capacity under its revolving line of credit maturing April 2018. The term loans are expected to be used to fund acquisitions and for general corporate purposes. Sinclair also amended certain other terms of its bank credit facility.

On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 162 television stations in 77 markets. Sinclair’s television group will reach approximately 38.7% (24.3% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair’s television portfolio will include 38 FOX, 29 ABC, 26 CBS, 25 CW, 22 MNT, 15 NBC, 5 Univision, one Azteca and one independent station. Sinclair owns equity interests in various non-broadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Forward-Looking Statements:
The matters discussed in this press release include forward-looking statements regarding, among other things, future operating results. When used, the words “outlook,” “intends to,” believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements and information. Such forward-looking information is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those set forth in the forward-looking information as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, STG’s ability to obtain the necessary approvals to close on pending acquisitions, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets which impact our ability to forecast or refinance our indebtedness as its comes due, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, our news share strategy, our local sales initiatives, the execution of retransmission consent agreements, our ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any risk factors set forth in the Company’s recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurance that the assumptions and other factors referred to will occur. The Company undertakes no obligation to update such forward-looking information in the future except as required by law.

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SBG Closes Private Offering of Senior Unsecured Notes and Completes Redemption of 9.25% Notes

Press Release

Contact: David Amy, EVP & CFO
Lucy Rutishauser, VP Corporate Finance & Treasurer
(410) 568-1500

Sinclair Closes Private Offering of Senior Unsecured Notes and Completes Redemption of 9.25% Notes

BALTIMORE (October 11, 2013) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has closed its previously announced private offering of $350 million aggregate principal amount of 6.375% senior unsecured notes due 2021 (the “6.375% Notes”). The 6.375% Notes were priced at 100% of their par value and will bear interest at a rate of 6.375% per annum payable semi-annually on May 1 and November 1, commencing May 1, 2014.

The net proceeds from the private placement of the 6.375% Notes, together with cash on hand, will be used to redeem $500.0 million aggregate principal amount of STG’s 9.25% Senior Secured Second Lien Notes due 2017 (CUSIP No. 829259AA8) (the “9.25% Notes”). The redemption price, including the outstanding principal amount of the 9.25% Notes, accrued and unpaid interest, and a make-whole premium, totaled $546.1 million.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the 6.375% Notes, nor shall there be any offer or sale of the 6.375% Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.

The 6.375% Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Accordingly, the 6.375% Notes are being offered and sold only (a) to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and (b) outside the United States, to non-U.S. persons in compliance with Regulation S under the Securities Act.

On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 162 television stations in 77 markets. Sinclair’s television group will reach approximately 38.7% (24.3% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair’s television portfolio will include 38 FOX, 29 ABC, 26 CBS, 25 CW, 22 MNT,15 NBC, 5 Univision, one Azteca and one independent station. Sinclair owns equity interests in various nonbroadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

Forward-Looking Statements:
The matters discussed in this press release include forward-looking statements regarding, among other things, future operating results. When used, the words “outlook,” “intends to,” believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements and information. Such forward-looking information is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those set forth in the forward-looking information as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, STG’s ability to consummate the refinancing of its bank credit facility and obtain the necessary approvals to close on the pending acquisitions, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets which impact our ability to forecast or refinance our indebtedness as its comes due, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, our news share strategy, our local sales initiatives, the execution of retransmission consent agreements, our ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any risk factors set forth in the Company’s recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurance that the assumptions and other factors referred to will occur. The Company undertakes no obligation to update such forward-looking information in the future except as required by law.

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SBG and Perpetual Corporation Receive Second Request for Information on the Proposed Allbritton Acquisition

News Release

Contacts: For Sinclair: David Amy, EVP & CFO
Lucy Rutishauser, VP & Treasurer
(410) 568-1500
For Allbritton: Jerald Fritz, SVP Legal and Strategic Affairs, General Counsel
(703) 647-8700

SINCLAIR BROADCAST GROUP AND PERPETUAL CORPORATION RECEIVE SECOND REQUEST FOR INFORMATION ON THE PROPOSED ALLBRITTON ACQUISITION

BALTIMORE, MD and ARLINGTON, VA (October 7, 2013) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (“Sinclair”) and the parent company of Allbritton Communications Company, Perpetual Corporation (“Allbritton”), announced that they received a request for additional information from the U.S. Department of Justice (“DOJ”), also referred to as a “Second Request,” in connection only with Sinclair’s proposed acquisition of Allbritton’s Harrisburg, PA station and its affiliate in Charleston, SC.

Although a Second Request is a standard part of the DOJ review process, it can extend the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, to receive DOJ approval on the proposed transactions. Sinclair and Allbritton intend to respond promptly to the Second Request. Although there can be no assurances, the parties expect the transaction to close in the first or second quarter of 2014. In addition to antitrust clearance, the transaction is subject to Federal Communications Commission (FCC) approval.

About Sinclair:
On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 162 television stations in 77 markets. Sinclair’s television group will reach approximately 38.7% (24.3% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair’s television portfolio will include 38 FOX, 29 ABC, 26 CBS, 25 CW, 22 MNT, 15 NBC, 5 Univision, one Azteca and one independent station. Sinclair owns equity interests in various nonbroadcast related companies. Sinclair regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

About Allbritton:
Perpetual Corporation is the parent company of Allbritton Communications Company, an Arlington, Virginia-based communications company that owns and operates through subsidiaries and affiliates seven ABC Network stations serving approximately 5% of total U.S. viewers and a 24-hour, local news service in Washington-Virginia-Maryland, NewsChannel 8. Owned by the Allbritton family since 1976, Allbritton Communications Company has been in the forefront of industry change including cable news, digital conversion and multiplatform programming.

Forward-Looking Statements:
The matters discussed in this release, include forward-looking statements regarding, among other things, future operating results. When used in this news release, the words “outlook,” “intends to,” “believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forwardlooking statements as a result of various important factors, including and in addition to the assumptions identified in this release, but not limited to, the ability to satisfy the closing conditions for the Allbritton station acquisitions discussed in this release, Sinclair’s previously announced acquisitions, and any required license asset third party transactions, including obtaining required governmental and shareholder approvals, Sinclair’s ability to obtain financing for the Allbritton station acquisitions and Sinclair’s previously announced acquisitions, Sinclair’s ability to successfully integrate the Allbritton stations, and the stations from its previously announced acquisitions and to maximize Sinclair’s operating synergies in connection therewith, successful execution of Sinclair’s small market strategy, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial markets, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television Network and MyNetworkTV programming, Sinclair’s news share strategy, its local sales initiatives, the execution of retransmission consent agreements, its ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any other risk factors set forth in the Sinclair’s most recent reports on Form 10-Q, Form 10-K and Form 8-K, as filed with the Securities and Exchange Commission. There can be no assurances that the assumptions and other factors referred to in this release will occur. Sinclair undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law.

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SBG to Report Third Quarter 2013 Results on November 6, 2013

FOR IMMEDIATE RELEASE

Contact: Lucy Rutishauser, Treasurer
410-568-1500

SINCLAIR TO REPORT THIRD QUARTER 2013 RESULTS ON NOVEMBER 6, 2013 AT 7:30am (Eastern Time)

BALTIMORE (October 4, 2013) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) will report its third quarter 2013 earnings results at 7:30 a.m. ET on Wednesday, November 6, 2013, followed by a conference call to discuss the results at 9:30 a.m. ET.

The dial-in number for the earnings call is 877-407-8033.

If you plan to participate on the conference call, please call two minutes prior to the start time and tell the conference operator that the subject of the conference is the “Sinclair Earnings Conference Call.”

If you cannot participate in the live conference call, a replay of the call and the earnings release will be available on Sinclair Broadcast Group’s web site at www.sbgi.net. This will be the only venue through which a replay will be available.

Members of the news media will be welcome on the call in a listen-only mode. Key executives will be made available to members of the news media, time permitting, following the conference call.

The Company regularly uses its website as a key source of Company information and can be accessed at www.sbgi.net.

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SBG Closes on Acquisition of Titan Stations

News Release

Contact: David Amy, EVP & CFO, Sinclair
Lucy Rutishauser, VP & Treasurer, Sinclair
(410) 568-1500

SINCLAIR BROADCAST GROUP CLOSES ON ACQUISITION OF THE TITAN STATIONS

BALTIMORE (October 3, 2013) — Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the “Company” or “Sinclair”) announced that it has closed on its previously announced acquisition of the stock and broadcast assets of four television stations owned by TTBG LLC (“Titan”) for an aggregate purchase price of $115.35 million. Sinclair also assumed Titan’s agreements to provide sales and other services to two other stations, KXVO in Omaha, NE and KMEG in Sioux City, IA. The Company funded the transaction through cash on hand.

The Titan stations owned and operated, programmed or to which sales services will be provided are:

Read more… Titan_SBG_close

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SBG Mourns the Death of Board Member, Judge Basil A. Thomas

News Release
Contact: David Amy, EVP & CFO
Lucy Rutishauser, VP & Treasurer
(410) 568-1592

SINCLAIR MOURNS DEATH OF BOARD MEMBER, JUDGE BASIL A. THOMAS

Baltimore, MD (September 27, 2013) – With great sadness, Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announces the passing of long-time Board member, Basil A. Thomas, 98.

“During his 20 years as a Board member, Judge Thomas had an immense impact on Sinclair and served our Company and shareholders in an exemplary fashion,” commented David Smith, Chairman of Sinclair’s Board. “He was man of great wisdom; a voice of reason with an incredible desire to learn. In the early days of Sinclair’s formation, he was an invaluable advisor to me and my brothers as we took over and grew the Company, and even before then to my father. There was no question that someone of his integrity and insight had to be a part of our Board, and we owe much of our success to his friendship, counsel and service.”

Judge Thomas was recently awarded the 2013 Baltimore Business Journal Outstanding Directors Award. When asked to sum up a director’s main role or responsibility, Mr. Thomas responded, “Integrity… integrity to your responsibility, your moral integrity, … and your credibility. But it all boils down to one thing. If you keep in sight your function — why you’re there — and you’re true to it and true to yourself and committed to the goals that you were selected to pursue, I think the word integrity is that and more.”

Judge Thomas has served as a Sinclair Director since November 1993. From 1961 to 1968, Mr. Thomas was as an Associate Judge on the Municipal Court of Baltimore City, and from 1968 to 1983 he served as an Associate Judge of the Supreme Bench of Baltimore City. He retired from the bench in 1982 and served as counsel to the law firm, Thomas & Libowitz until December 31, 2007. Mr. Thomas was a member of the American Bar Association and the Maryland State Bar Association. A graduate of the College of William & Mary, Judge Thomas received his L.L.B. from the University of Baltimore. Judge. Thomas is the father of Steven A. Thomas, a senior attorney and founder of Thomas & Libowitz, counsel to Sinclair.

Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies, owns and operates, programs or provides sales services to 162 television stations in 77 markets, pro forma for pending transactions. Sinclair’s television group is affiliated with all major networks and reaches approximately 38.7% of all U.S. television households. For more information, please visit Sinclair’s website at www.sbgi.net.

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SBG Announces Redemption of 9.25% Notes

Press Release

Contact: David Amy, EVP & CFO
Lucy Rutishauser, VP Corporate Finance & Treasurer
(410) 568-1500

Sinclair Announces Redemption of 9.25% Notes

BALTIMORE (September 27, 2013) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) announced that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has notified the trustee for its 9.25% Senior Secured Second Lien Notes due 2017 (CUSIP No. 829259AA8) (the “Notes”) that it will redeem, in full, STG’s outstanding $500.0 million aggregate principal amount of Notes as of October 12, 2013 (the “Redemption Date”). The redemption will be effected in accordance with the terms of the indenture governing the Notes. The redemption price will be equal to the sum of 100% of the principal amount of Notes outstanding, a makewhole premium which will be calculated two business days prior to the Redemption Date in accordance with the terms of the indenture governing the Notes, and accrued and unpaid interest on the principal amount being redeemed up to, but not including, the Redemption Date. The redemption of the Notes and payment of accrued interest and fees will be funded from the net proceeds of STG’s recently announced offering of $350.0 million 6.375% Senior Notes due 2021 (the “6.375% Notes”), term loans and cash on hand.

This press release shall not constitute a notice of redemption of the Notes. A notice of redemption may only be made by a Notice of Redemption provided by the trustee to the holders of the Notes.

On a pro forma basis assuming consummation of all previously announced acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., will own and operate, program or provide sales services to 162 television stations in 77 markets. Sinclair’s television group will reach approximately 38.7% (24.3% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair’s television portfolio will include 38 FOX, 29 ABC, 26 CBS, 25 CW, 22 MNT, 15 NBC, 5 Univision, one Azteca and one independent station. Sinclair owns equity interests in various non-broadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

 

Forward-Looking Statements:
The matters discussed in this press release include forward-looking statements regarding, among other things, future operating results. When used, the words “outlook,” “intends to,” believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements and information. Such forward-looking information is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those set forth in the forward-looking information as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, STG’s ability to consummate the offering of the 6.375% Notes, STG’s ability to obtain the necessary approvals to close on pending acquisitions, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets which impact our ability to forecast or refinance our indebtedness as its comes due, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, our news share strategy, our local sales initiatives, the execution of retransmission consent agreements, our ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any risk factors set forth in the Company’s recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurance that the assumptions and other factors referred to will occur. The Company undertakes no obligation to update such forward-looking information in the future except as required by law.

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SBG Prices Private Offering of Senior Unsecured Notes

Press Release

Contact: David Amy, EVP & CFO
Lucy Rutishauser, VP Corporate Finance & Treasurer
(410) 568-1500

Sinclair Prices Private Offering of Senior Unsecured Notes

BALTIMORE (September 26, 2013) – Sinclair Broadcast Group, Inc. (”Sinclair” or the “Company”) (Nasdaq: SBGI) announced today that its wholly-owned subsidiary, Sinclair Television Group, Inc. (“STG”), has priced its previously announced private offering of $300 million senior unsecured notes due 2021 (the “Notes”). The Notes were priced at 100% of their par value and will bear interest at a rate of 6.375% per annum payable semi-annually on May 1 and November 1, commencing May 1, 2014. The aggregate principal amount of Notes in the offering was upsized to $350 million.

The net proceeds from the private placement of Notes, together with borrowings under STG’s existing bank credit facility and cash on hand, are intended to be used to fund the redemption of STG’s 9.25% Senior Secured Second Lien Notes due 2017 (“9.25% Notes”). This private placement of Notes is conditioned on customary closing conditions and is expected to close on October 11, 2013.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer or sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Accordingly, the Notes are being offered and sold only (a) to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) and (b) outside the United States, to non-U.S. persons in compliance with Regulation S under the Securities Act.

Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies in the U.S., owns and operates, programs or provide sales services to 117 television stations in 57 markets, before pending transactions. Sinclair’s television group reaches approximately 31% (19% for purposes of the 39% FCC ownership cap) of U.S. television households and will be affiliated with all major networks. Sinclair owns equity interests in various non-broadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.

 

Forward-Looking Statements:
The matters discussed in this press release include forward-looking statements regarding, among other things, future operating results. When used, the words “outlook,” “intends to,” believes,” “anticipates,” “expects,” “achieves,” and similar expressions are intended to identify forward-looking statements and information. Such forward-looking information is subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those set forth in the forward-looking information as a result of various important factors, including and in addition to the assumptions set forth therein, but not limited to, STG’s ability to consummate the offering of the Notes and the refinancing of its bank credit facility, obtain the necessary approvals to close on the pending acquisitions, the impact of changes in national and regional economies, the volatility in the U.S. and global economies and financial credit markets which impact our ability to forecast or refinance our indebtedness as its comes due, successful execution of outsourcing agreements, pricing and demand fluctuations in local and national advertising, volatility in programming costs, the market acceptance of new programming, the CW Television and MyNetworkTV programming, our news share strategy, our local sales initiatives, the execution of retransmission consent agreements, our ability to identify and consummate investments in attractive non-television assets and to achieve anticipated returns on those investments once consummated, and any risk factors set forth in the Company’s recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as filed with the Securities and Exchange Commission. There can be no assurance that the assumptions and other factors referred to will occur. The Company undertakes no obligation to update such forward-looking information in the future except as required by law.

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