Contact: David Amy, EVP & CFO, Sinclair
Lucy Rutishauser, VP & Treasurer, Sinclair
SINCLAIR BROADCAST GROUP CLOSES ON COX MEDIA GROUP STATIONS
BALTIMORE (May 2, 2013) -- Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) (the Company or Sinclair ) announced that it has closed on the purchase of four television stations owned by Cox Media Group ( CMG ) for $99.0 million less $4.3 million of working capital adjustments and an agreement to provide sales services to one other station. The Company funded the transaction through cash on hand.
The CMG stations owned and operated, programmed or provided sales services to are:
El Paso, TX
Wheeling, WV/Steubenville, OH
Represents television designated market areas according to the Nielsen Company ( Nielsen ). The numbers in the column represent the ranking in terms of size of the DMA out of the 210 generally recognized DMAs in the United States.
On a pro forma basis assuming consummation of all pending acquisitions, Sinclair Broadcast Group, Inc., the largest and one of the most diversified television broadcasting companies, will own and operate, program or provide sales services to 134 television stations in 69 markets. Sinclair's television group will reach approximately 34% of U.S. television households and is affiliated with all major networks. Sinclair s television portfolio will include FOX, MNT, CW, ABC, CBS, NBC, Univision, independent and Azteca stations. Sinclair owns equity interests in various non-broadcast related companies. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.