Hunt Valley-based Sinclair Broadcast Group Inc. said Monday it finalized its planned purchase of 18 television stations owned by Barrington Broadcasting Group for $370 million.
Those stations, plus another six Barrington stations that Sinclair will operate or service, are located in 15 markets, including Syracuse, N.Y., Colorado Springs, Colo., Flint and Traverse City, Mich., and Myrtle Beach, S.C.
Sinclair funded the purchase through cash on hand.
Because of a conflict under Federal Communication Commission ownership rules, Sinclair sold its FOX stations in Syracuse, N.Y., and Peoria, Ill. The company also assigned a local marketing agreement and purchase option on a MNT affiliate in Syracuse to Bristlecone Broadcasting, while selling off license assets of five other stations.
Sinclair, which has been on a television station buying spree, will own and operate, program or provide sales services to 164 television stations in 77 markets once all the planned acquisitions are complete.Copyright © 2014, The Baltimore Sun