With four significant TV station group deals within the past year, there is a growing number of groups up for sale. But right now few buyers are willing to pay the multiples that the sellers are demanding. “Owners are either going to have to take lower prices and come out under water or hold stations for another two years,” says broker Larry Patrick.
The sale of seven stations to Sinclair results closed on Jan. 3.
(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 […]