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Posts Tagged ‘Freedom Communications’

GM Jim Lutton Says WWMT Sees Positive Changes Under Sinclair Ownership

Sinclair Broadcast Group officially closed the $385 million acquisition of Freedom Communications eight-station group yesterday, and the stations — which have been operated by Sinclair since December — are already seeing changes.

Jim Lutton, who will continue as vice president and general manager of WWMT in Grand Rapids, told mlive.com that Sinclair wants the station “to be successful.”

Lutton said WWMT has been equipped with new “live stream” technology, which increases the number of areas WWMT can broadcast from using cellular and Web-based devices. The station has also hired new employees. Read more

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Sinclair to Buy Freedom Communications Stations

Sinclair Broadcast Group will purchase the eight-station Freedom Communications station group for $385 million, the company announced today. The deal will be reviewed by the FCC and is expected to cl0se early next year.

Sinclair announced the deal in conjunction with the company’s third-quarter earnings report, which included net broadcast revenues of $151.7 million. Compared to the same quarter last year, revenue dipped 4.5%, mostly due to lack of political advertising, according to Sinclair.

Until the deal closes, Sinclair will operate the stations under a local marketing agreement. In September, Sinclair announced the purchase of Four Points Media, a seven-station, $200 million purchase. Read more