/
09.25.2013 03:34PM
Sinclair Broadcast Group Agrees To Purchase New Age Media TV Stations
BALTIMORE— Sinclair Broadcast Group, Inc. has entered into a definitive agreement to purchase the broadcast assets of 8 television stations owned by New Age Media, or to which New Age provides services, for an aggregate purchase price of $90 million.

The eight stations are located in three markets and reach 0.8 percent of the U.S. TV households.

Completion of the transaction is subject to the satisfaction of customary closing conditions, including approval by the Federal Communications Commission and antitrust clearance. Sinclair anticipates that the transaction will close and fund late in the fourth quarter of 2013 or first quarter of 2014.

The New Age stations covered by the transaction are:

Station

Affil.

Market

DMA(1)

WOLF

FOX

Wilkes-Barre-Scranton, Pa.

54

WQMY

MY

Wilkes-Barre-Scranton, Pa.

54

WSWB

CW

Wilkes-Barre-Scranton, Pa.

54

WTLH

FOX

Tallahassee, Fla.

106

WTLF

CW

Tallahassee, Fla.

106

WGFL

CBS

Gainesville, Fla.

163

WNBW

NBC

Gainesville, Fla.

163

WMYG-LP

MY

Gainesville, Fla.

163



To comply with FCC local television ownership rules, Sinclair expects to sell the license and certain related assets of WSWB in Wilkes-Barre-Scranton, Pa., WTLH in Tallahassee, Fla., and WNBW in Gainesville, Fla., to Cunningham Broadcasting Corporation and WTLF in Tallahassee, Fla., to Deerfield Media, Inc. New Age does not own the license assets of WSWB, WNBW, and WTLH, and for many years it has provided services to these stations pursuant to existing shared services and joint sales agreements, so Sinclair will continue to provide sales and other non-programming support services to each of these stations, as well as to WTLH, pursuant to customary shared services and joint sales agreements.


Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 10:27AM
Peer Profile: Liam Laminman, Trickbox TV
"4K and IP broadcast (plus a combination of the two) will be my main interest."


 
Featured Articles
Discover TV Technology