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Stock Market & Financial Investment News

News Breaks
August 20, 2014
11:22 EDTSBGI, MEG, LINSinclair Broadcast agrees to swap TV stations with Media General
Sinclair Broadcast Group (SBGI ) announced that it has entered into a definitive agreement to purchase the broadcast assets of one television station in Providence, RI owned by Media General (MEG), two television stations in Green Bay, WI owned by LIN Media (LIN) and one television station in Savannah, GA owned by WTGS Television and operated by LIN through a shared services arrangement. The three markets represent 1.2% of U.S. television households. Simultaneously, Sinclair will sell Media General the broadcast assets of three stations in two markets upon the completion of the LIN/Media General merger. The company's previously announced sale of WHTM in Harrisburg is expected to close in September. The combination of all stations being sold to Media General represents 1.9% of U.S. television households.In addition and as part of the transactions, Sinclair will pay a net cash price of $31M for an additional $3.4M of cash flow being swapped. In addition, the company expects to generate an additional approximately $2M of synergies on the acquired stations.
News For SBGI;MEG;LIN From The Last 14 Days
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October 30, 2014
17:02 EDTLIN, MEG, SBGIDOJ requires divestitures in Media General acquisition of LIN Media
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15:21 EDTLIN, MEGMedia General agrees to sell stations to settle complaint over LIN Media deal
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15:14 EDTLIN, MEGU.S. files suit to block proposed LIN Media, Media General merger
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