Sinclair Broadcast Group Inc. finalized its planned $240 million purchase of New York-based Bonten Media Group Holdings Inc., the Hunt Valley-based broadcaster said Tuesday.
The deal, funded by cash on hand, closed Friday. Bonten also operates four stations through "joint sales agreements" with Esteem Broadcasting, and those stations were acquired by Sinclair-owned Cunningham Broadcasting as part of the purchase.
The Bonten transaction adds 14 television stations in eight markets to Sinclair's portfolio. Cunningham assumed the joint sales agreements under which Sinclair will provide services to four additional stations.
The Bonten and Esteem stations being acquired include NBC, ABC, Fox, CW, UNI and MNT affiliates in eight television markets in California, Montana, North Carolina, Tennessee, Texas and Virginia.
Sinclair has said the deal will help expand its regional presence in several states where it already owns stations.
Sinclair, which has stations affiliated with all the major networks, is pursuing an acquisition of Tribune Media Co. for $3.9 billion. If regulators approve the deal, Sinclair will own, operate or provide services to 233 television stations n 108 markets.