Sinclair Closes Four Points Media Acquisition
(RTTNews) — Sinclair Broadcast Group Inc. announced that it has closed the asset acquisition of Four Points Media from affiliates of Cerberus Capital Management, L.P. for $200 million. The company said that it financed the acquisition with a $180 million draw under a recently raised incremental Term B Loan commitment under its amended Bank Credit Facility plus a $20 million cash escrow previously paid.
The Four Points TV stations acquired are:
- KUTV (CBS 2) Salt Lake City, Utah (DMA 32)
- KMYU (MNT 9) Salt Lake City, Utah (DMA 32)
- KEYE (CBS 42) Austin, Texas (DMA 44)
- WTVX (CW 34) West Palm Beach-Fort Pierce, Fla. (DMA 38)
- WTCN-CA (MNT 50) West Palm Beach-Fort Pierce, Fla. (DMA 38)
- WWHB-CA (AZTECA 48) West Palm Beach-Fort Pierce, Fla. (DMA 38)
- WLWC (CW 28) Providence, R.I.-New Bedford, Mass. (DMA 53)
Sinclair had been operating the Four Points TV stations since October 1, 2011 , pursuant to a local marketing agreement, while it awaited FCC approval. In addition, the parties agreed to an effective closing date of Jan. 1, 2012.