Sources say Sinclair has beaten out LIN for Fisher’s 13 full-power and seven LPTV stations.
One of the hot rumors at NAB this week: A deal for Fisher Communications to be acquired was imminent.
Turns out the rumors were true. Sinclair Broadcasting won a bidding war against LIN Media to buy Fisher in a deal finalized in the wee hours of Tuesday night, according to sources.
Details, specifically price and cash flow multiples, were unavailable late Wednesday. Employees at various Fisher stations knew that various potential buyers had been conducting due diligence at the larger stations but were unaware that Sinclair had won.
A spokesman at Fisher’s public relations firm, Sard Verbinnen & Co., said the company had no comment on rumors and speculation.
With other recent acquisitions, the Fisher buy would boost Sinclair’s station group to nearly 150 and give it a strong presence in the West. Fisher operates 13 full-power and seven low-power stations primarily in the Pacific Northwest. Its flagship station is KOMO, the ABC affiliate in Seattle.
Sinclair also is considered a front-runner to buy Local TV LLC’s group of 21 stations and, potentially, several other station groups.