Sinclair Broadcasting has announced it has entered into a definitive agreement to buy the broadcast assets of eight stations owned by New Age Media or to which New Age provides services for an aggregate price of $90 million.
Since the eight stations are in three markets: Wilkes-Barre-Scranton, PA, Tallahassee, FL, and Gainesville, FL, Sinclair said it plans to sell the license and “certain related assets” of two stations (WSWB and WTLH) in Wilkes-Barre-Scranton and one (WNBW) in Gainesville, FL, to Cunningham Broadcasting and the license of WTLF in Tallahassee to Deerfield Media. You can see the full list of the stations after the jump.
“We are excited to be adding the New Age stations to our portfolio, growing our presence in Pennsylvania and Florida, and further diversifying our affiliation mix,” David Smith, president and CEO of Sinclair said in a statement. “Through each acquisition we continue to capture operating efficiencies and scale, as well as increase our cash flow for ongoing opportunities.” Read more