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Sinclair Broadcast Group to buy Fox regional sports networks from Disney for $10.6 billion

Sinclair Broadcast Group to buy Fox regional sports networks from Disney for $10.6 billion

Sinclair Broadcast Group will partner with the owner of The Weather Channel to buy 21 regional sports networks and Fox College Sports from The Walt Disney Co. for $10.6 billion, the companies announced Friday.

The deal further transforms Hunt Valley-based Sinclair, which grew from Baltimore’s WBFF Fox45 in 1971 into the nation’s largest owner of broadcast television stations. It also marks a remarkable turn of fortunes for the company that just last summer lost a bid to buy Tribune Media and extend its reach even further.

The company’s shares spiked in after-hours trading, surging more than 15 percent to $51.86 each after closing Friday at $44.95 before the deal was...

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