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Stock Market & Financial Investment News

News Breaks
February 14, 2014
13:40 EDTSBGISinclair Broadcast announces up to $100M share repurchase plan
Sinclair Broadcast Group announced that it intends to repurchase, from time to time, up to $100M of its Class A common shares in the open market. The company stated, "We strongly believe in the long term outlook of our Company and our business models and disagree with the market's current discounted view on broadcast. Using a portion of our free cash flow through the share repurchase is an attractive means to capture meaningful returns for our shareholders."
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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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