Sinclair Broadcast closes on TV station deals
BALTIMORE (AP) — Sinclair Broadcast Group Inc. said Monday that it closed on a number of deals to acquire and sell television stations nationwide.
The roughly $459.7 million in acquisitions adds two new markets for the company and additional stations in four markets where Sinclair already has a presence.
Sinclair purchased seven stations from Newport Television LLC. These include the following: WKRC in Cincinnati, Ohio; WOAI in San Antonio, Texas; WHP in Harrisburg, Pa.; WPMI and WJTC in Mobile, Ala.; KSAS in Wichita, Kan. and WHAM in Rochester, N.Y.
The company also acquired Newport's rights under the local marketing agreements with WLYH in Harrisburg, Penn. and KMTW in Wichita, Kan., as well as options to acquire the license assets.
Sinclair also acquired WTTA in Tampa, Fla., which was previously operated by Sinclair as part of a local marketing agreement. It also purchased KBTV in Beaumont, Texas, which was previously owned by Nexstar Broadcasting.
Sinclair also said that it closed on deals to sell its assets to Deerfield Media Inc. at KMYS in San Antonio and WSTR in Cincinnati, WPMI and WJTC in the Mobile market and KBTV in Beaumont. Sinclair will provide sales and other non-programming services to each of these five stations under shared services and joint sales agreements.
The company is one of the largest TV broadcasting companies in the U.S. with 84 television stations in 46 markets.
Shares fell 21 cents, about 2 percent, to end Monday trading at $10.82. The stock remains in the middle of its 52-week trading range of $7.82 to $13.40. and is down about 5 percent since the start of the year.