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Stock Market & Financial Investment News

News Breaks
February 28, 2013
16:48 EDTSBGISinclair Broadcast announces agreement to purchase Barrington TV stations
Sinclair Broadcast announced that it has entered into a definitive agreement to purchase the broadcast assets of 18 television stations owned by Barrington Broadcasting Group for $370M and entered into agreements to operate or provide sales services to another six stations. The 24 stations are located in 15 markets and reach 3.4% of the U.S. TV households. The transaction is subject to approval by the Federal Communications Commission and antitrust clearance. The company anticipates the transaction will close and fund in Q2, subject to closing conditions. The company expects to finance the purchase price, less $20M in deposits, through a bank loan and/or by accessing the capital markets. "The Barrington stations are an important part of that strategy, providing meaningful scale to the group. Including synergies, we believe the Barrington stations can generate approximately $71M of cash flow, on average. When combined with the COX stations, we expect our expertise and resources to create approximately $29M in synergistic, incremental cash flow, equating to approximately $232M of added equity value or $2.85 per share," said Sinclair CEO David Smith.
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May 19, 2015
09:04 EDTSBGISinclair Broadcast division to televise MiLB's games
The American Sports Network, a division of Sinclair Networks Group, announced that ASN has reached an agreement with Minor League Baseball, or MiLB, to televise a weekly game this summer. The new series, called "Minor League Baseball Sunday Showcase" will debut with a Pacific Coast League matchup between the Iowa Cubs and the El Paso Chihuahuas on Sunday, May 31, at Southwest University Park in El Paso, Texas.
May 12, 2015
15:35 EDTSBGISinclair Broadcast announces distribution deal with Chideo
Chideo announced a first-of-its-kind partnership with Sinclair Broadcast Group to expand Chideo's reach by 42 million households. Through this unique distribution deal, Sinclair will connect its broadcast and digital audience with Chideo's inspirational and entertaining content all to benefit the world's leading charities. Sinclair's 161 local television stations will provide much-needed public awareness for these causes, as well as direct financial support from the sale of advertising and sponsorships around Chideo's rich collection of exclusive content from more than 100 celebrity ambassadors.

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