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Stock Market & Financial Investment News

News Breaks
July 10, 2014
11:55 EDTSBGI, SSP, GCI, GTNSigns show Sinclair Broadcast near closing Albritton deal, says Wells Fargo
Wells Fargo believes that Sinclair's (SBGI) recent debt raise and intention to raise incremental term B loans indicate that the company's acquisition of TV stations from Albritton will close later this month. The firm says its checks indicate that the FCC has said that Sinclair has met all new requirements related to the deal. Wells views the closing of the deal as a positive catalyst for Sinclair and its peers, and it keeps an Outperform rating on the shares. Other TV station owners include E.W. Scripps (SSP), Gannett (GCI), and Gray Television (GTN).
News For SBGI;SSP;GCI;GTN From The Last 14 Days
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August 25, 2014
14:51 EDTGTNGray Television renews all Fox affiliation agreements
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10:44 EDTGTNGray Television renewal with CBS removes overhang, says Wells Fargo
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08:31 EDTGTNCBS, Gray Television sign affiliation deal
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August 21, 2014
09:04 EDTSBGISinclair Broadcast announces launch of original programming division
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August 20, 2014
11:22 EDTSBGISinclair 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.

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