Sinclair Broadcast Group is purchasing 18 stations from Barrington Broadcasting Group for $370 million, the company announced Thursday. As part of the agreement, Sinclair will operate or provide sales services to an additional six Barrington stations.

The 24 stations are located in 15 markets and reach 3.5% of the U.S. TV households. The transaction is subject to FCC approval and antitrust clearance, and Sinclair estimates the deal will close in the second quarter of 2013.

The Barrington stations, along with five stations Sinclair is buying from Cox Media, will make up Sinclair’s Chesapeake TV group, which will focus on stations in smaller markets. Sinclair has announced Steve Pruett as the chief operating officer of Chesapeake TV. Pruett was most recently CEO of Communications Corporation of America’s 25-station group.

Due to FCC ownership conflict rules, Sinclair will sell WSYT in Syracuse and WYZZ in Peoria as it acquires Barrington’s stations. The stations will be purchased by Cunningham Broadcasting Corporation and Howard Stirk Holdings, a new entity formed by Armstrong Williams, a political commentator and CEO of The Graham Williams Group.

After the jump, see a list of the stations involved in the sale. Read more

David Smith, president and CEO of Sinclair Broadcast Group is planning a new station group venture focused on smaller market stations, according to Broadcasting & Cable. Steve Pruett, CEO of Communications Corp. of America and chairman of the Fox affiliates board, will play a “prominent role” in building the group, B&C reports:

The principals in the new venture, which is as yet untitled, seek to launch in the coming months with at least 20 stations. Smith called talk of the new venture “rank speculation.” He would not comment further, citing his role in a publicly traded company. Pruett, who is the Fox affiliates board chairman, could not be reached for comment. The Barrington station group is on the block and is believed to have attracted the interest of the new venture. Barrington’s executives could not be reached for comment.

The CCA stations are also being shopped. CCA owns or operates 25 stations, in Texas, Louisiana and Evansville, Ind., and their market size and affiliate mix could make them a fit for the new group. A quartet of Cox stations may also be on the startup principals’ wish list. A Cox executive would not comment.