Sinclair Broadcast Group has deals pending to buy Four Points Media for $200 million and the TV stations of Freedom Communications for $385 million, so it recently announced negotiations with its bankers for additional borrowing. Now the deal is done.
The Four Points group includes seven stations in four markets, including the CBS affiliates in Salt Lake City and Austin, Texas. The seller is Cerberus, a private equity firm. Sinclair will operate the stations under an LMA prior to closing.