Sinclair Broadcast Group Inc. plans to close Aug. 1 on its $1 billion deal to acquire television stations from Allbritton Communications, now that federal regulators have cleared the way, the company said Friday.
Hunt Valley-based Sinclair said both the Federal Communications Commission and the Department of Justice approved the acquisition of seven ABC affiliates and a Washington-based cable news network. The broadcaster had said earlier this week that its subsidiary, Sinclair Television Group Inc., arranged funding for the deal.
Sinclair, which owns, operates or provides programming and sales services to 162 television stations in the U.S., has been an aggressive buyer of stations. When the company announced the Allbritton plans last summer it was on track for a total of $1.9 billion worth of acquisitions.
Last month, the company said it plans to sell two television stations for a combined $97.4 million to comply with updated broadcast ownership rules.Copyright © 2015, The Baltimore Sun