Sinclair Broadcast Group Inc., which owns or is in the process of acquiring 140 television stations throughout the U.S., is purchasing a manufacturer of transmission antennas, the Hunt Valley broadcast firm announced Tuesday.
Dielectric, a Maine-based subsidiary of a North Carolina company, planned to stop operating at the end of the month. Parent company SPX Corp. decided in April to close the antenna maker because of low profitability, according to news reports.
"Dielectric has supplied more than two-thirds of the TV industry's high power antennas and its name is synonymous with expert engineering and quality products," said David Smith, Sinclair's president and CEO, in a statement. "We feel fortunate to have this opportunity to acquire the Dielectric intellectual property and assets related to our most critical infrastructure."
Dielectric LLC will be a wholly owned subsidiary of Sinclair but will continue operating from Raymond, Maine. Sinclair is purchasing Dielectric for "an immaterial and leverage neutral" price, Sinclair's statement said.
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