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