By Jamie Smith Hopkins, The Baltimore Sun
3:02 PM EST, December 3, 2012
Sinclair Broadcast Group said Monday that it has closed on eight television stations it expected to acquire in December and — in a new move — purchased an additional station in New York.
The Hunt Valley company said it bought the non-license assets of WHAM-TV — an ABC station in Rochester, N.Y. — from Newport Television for $54 million, which includes an option to acquire the license assets.
The previously announced deals that closed were for stations in Tampa, Fla.; Beaumont/Port Arthur, Texas; San Antonio, Texas; Cincinnati, Ohio; the Harrisburg region in Pennsylvania; Mobile, Ala.; and Wichita/Hutchinson, Kan. Sinclair picked up two stations in Mobile.
The company also closed on its agreement to sell the license assets of five stations to Deerfield Media.
Sinclair said it paid $459.7 million at closing for its acquisitions, net of deposits it made as well as its sale proceeds from Deerfield. Sinclair issued $500 million in senior notes this fall to fund the purchases.
Copyright © 2014, The Baltimore Sun