Sinclair Broadcast Group Announces Agreement to Purchase Barrington TV Stations; Steven Pruett To Be Named Chief Operating

    Sinclair Broadcast Group Announces Agreement to Purchase Barrington TV
 Stations; Steven Pruett To Be Named Chief Operating Officer of Chesapeake TV
                                  Subsidiary

PR Newswire

BALTIMORE, Feb. 28, 2013

BALTIMORE, Feb. 28, 2013 /PRNewswire/ --Sinclair Broadcast Group, Inc.
(Nasdaq: SBGI) (the "Company" or "Sinclair") announced today that it has
entered into a definitive agreement to purchase the broadcast assets of 18
television stations owned by Barrington Broadcasting Group, LLC ("Barrington")
for $370.0 million and entered into agreements to operate or provide sales
services to another six stations. The 24 stations are located in 15 markets
and reach 3.4% of the U.S. TV households. The transaction is subject to
approval by the Federal Communications Commission ("FCC") and antitrust
clearance. The Company anticipates the transaction will close and fund in the
second quarter of 2013, subject to closing conditions. The Company expects to
finance the purchase price, less $20.0 million in deposits, through a bank
loan and/or by accessing the capital markets.

(Logo: http://photos.prnewswire.com/prnh/20100119/PH39783LOGO )

"This week, we launched our small market television group when we announced we
would be acquiring certain of the COX Media television stations," commented
David Smith, President and CEO of Sinclair. "The Barrington stations are an
important part of that strategy, providing meaningful scale to the group.
Including synergies, we believe the Barrington stations can generate
approximately $71.0 million of cash flow, on average. When combined with the
COX stations, we expect our expertise and resources to create approximately
$29.0 million in synergistic, incremental cash flow, equating to approximately
$232.0 million of added equity value or $2.85 per share."

"We are pleased to announce that Steve Pruett will be joining our senior
management team as Chief Operating Officer of Chesapeake TV. Steve brings
many years of media experience, most recently as Chief Executive Officer of
Communications Corporation of America's 25 television station group. Steve
will oversee the growth and development of our small market strategy, while
Steve Marks will continue as Chief Operating Officer of Sinclair Television
Group, overseeing our mid-sized market strategy."

Mr. Pruett, commented, "The competitive environment for local affiliate
television is changing rapidly. Chesapeake TV represents a tremendous
opportunity to build scale and efficiency and to strengthen competitive
positioning in small markets by applying Sinclair's resources, discipline and
management systems, which in my observation are world class. Our vision is
big, and with the backing of Sinclair, we have what it takes to execute it."

Mr. Pruett has over 30 years of experience in the broadcast industry with an
extensive background in television station finance and management. For the
past 10 years, he has been with Communications Corporation of America, first
as Chief Financial Officer, then becoming its President in 2006 and President
and Chief Executive Officer, as well as a member of the Board, in 2007. Mr.
Pruett served as special strategic advisor to DirecTV and Thomson Consumer
Electronics from 1998 to 2002.From 1995 to 1999, he was a Managing Director
at Communications Equity Associates. During his career, he has helped found
several broadcast groups asan initial investor, financier, managing partner
or board member including Spanish Radio Group Excel Communications, ACME
Television, USBG, and UPI Media, where he served as President. Mr. Pruett
attended Southern Illinois University at Edwardsville where he majored in
Radio and Television. He later earned a Masters in Management from the JL
Kellogg Graduate School of Business at Northwestern University. Since 2008,
Mr. Pruett has been a key member of the Fox Affiliate Board of Governors where
he served as Treasurer until 2011 when he was elected Chairman, a position he
currently holds.

Due to FCC ownership conflict rules, Sinclair will sell its station in
Syracuse, NY, WSYT (FOX), and assign its local marketing agreement ("LMA") and
purchase option on WNYS (MNT) in Syracuse, NY. The Company will also sell its
station in Peoria, IL, WYZZ (FOX). In addition, the license assets of four
stations will be purchased by Cunningham Broadcasting Corporation and Howard
Stirk Holdings, a newly formed entity owned and controlled by Armstrong
Williams, founder and CEO of boutique communications firm, The Graham Williams
Group. In addition to his well-known work as a political commentator, Mr.
Williams has spent nearly twenty years developing and producing high quality
television programming, including primetime specials with U.S. Supreme Court
Justice Clarence Thomas, former Vice President Dick Cheney and Israeli Prime
Minister Benjamin Netanyahu. From 2001 to 2003, Mr. Williams served as Chief
Operating Officer of the Renaissance Cable TV Network with responsibility for
all programming, advertising and content development.

Mr. Smith commented, "We are pleased to advance the diversity efforts of the
FCC and create a path for minority ownership in the broadcast space through
Howard Stirk Holdings."

The Barrington stations covered by the transaction are:

Station Affil. Market                                    DMA(1)
WEYI    NBC    Flint/Saginaw/Bay City/Midland, MI        67
WBSF    CW     Flint/Saginaw/Bay City/Midland, MI        67
WNWO    NBC    Toledo, OH                                76
WACH    FOX    Columbia, SC                              77
WSTM    NBC    Syracuse, NY                              84
WTVH    CBS    Syracuse, NY                              84
WSTQ    CW     Syracuse, NY                              84
KGBT    CBS    Harlingen/Weslaco/Brownsville/McAllen, TX 86
KXRM    FOX    Colorado Springs, CO                      89
KXTU    CW     Colorado Springs, CO                      89
WPDE    ABC    Myrtle Beach/Florence, SC                 103
WWMB    CW     Myrtle Beach/Florence, SC                 103
WHOI    ABC    Peoria/Bloomington, IL                    116
WPBN    NBC    Traverse City/Cadillac, MI                120
WGTU    ABC    Traverse City/Cadillac, MI                120
WTOM    NBC    Traverse City/Cadillac, MI                120
WGTQ    ABC    Traverse City/Cadillac, MI                120
KVII    ABC    Amarillo, TX                              130
KVIH    ABC    Amarillo, TX                              130
KRCG    CBS    Columbia/Jefferson City, MO               138
WFXL    FOX    Albany, GA                                150
KHQA    CBS    Quincy, IL/Hannibal, MO/Keokuk, IA        171
WLUC    NBC    Marquette, MI                             180
KTVO    ABC    Ottumwa, IA/Kirksville, MO                199

(1) Represents television designated market areas according to the Nielsen
Company ("Nielsen"). The numbers in the column represent the ranking in terms
of size of the DMA out of the 210 generally recognized DMAs in the United
States.

Conference Call:

The senior management of Sinclair will hold a conference call to discuss the
acquisitions of the Barrington and COX stations on Friday, March 1, 2013, at
9:00 a.m. ET. After the call, an audio replay will be available at
www.sbgi.net under "Investor Information." The press and the public will be
welcome on the call in a listen-only mode. The dial-in number is (877)
407-8035.

About Sinclair:

On a pro forma basis assuming consummation of the Barrington and COX
transactions, Sinclair Broadcast Group, Inc., one of the largest and one of
the most diversified television broadcasting companies, will own and operate,
program or provide sales services to 112 television stations in 61 markets.
Sinclair's television group will reach approximately 29.8% of U.S. television
households and is affiliated with all major networks. Sinclair's television
portfolio will include 27 FOX, 20 MNT, 20 CW, 17 ABC, 15 CBS, 11 NBC, one
independent and one Azteca station. Sinclair owns equity interests in various
non-broadcast related companies. The Company regularly uses its website as a
key source of Company information which can be accessed at www.sbgi.net.

Forward-Looking Statements:

The matters discussed in this release, include forward-looking statements
regarding, among other things, future operating results. When used in this
news release, the words "outlook," "intends to," "believes," "anticipates,"
"expects," "achieves," and similar expressions are intended to identify
forward-looking statements. Such statements are subject to a number of risks
and uncertainties. Actual results in the future could differ materially and
adversely from those described in the forward-looking statements as a result
of various important factors, including and in addition to the assumptions
identified in this release, but not limited to, our ability to satisfy the
closing conditions for the Barrington and COX acquisitions discussed in this
release and any required license asset third party transactions, including
obtaining required governmental approvals, our ability to obtain financing to
fund such acquisitions, our ability to consummate the sales of our existing
stations as discussed in this release, our ability to maximize our operating
synergies in connection with the acquisitions, successful execution of our
small market strategy, the impact of changes in national and regional
economies, the volatility in the U.S. and global economies and financial
markets, successful execution of outsourcing agreements, pricing and demand
fluctuations in local and national advertising, volatility in programming
costs, the market acceptance of new programming, the CW Television Network and
MyNetworkTV programming, our news share strategy, our local sales initiatives,
the execution of retransmission consent agreements, our ability to identify
and consummate investments in attractive non-television assets and to achieve
anticipated returns on those investments once consummated, and any other risk
factors set forth in the Company's most recent reports on Form 10-Q, Form 10-K
and Form 8-K, as filed with the Securities and Exchange Commission. There can
be no assurances that the assumptions and other factors referred to in this
release will occur. The Company undertakes no obligation to publicly release
the result of any revisions to these forward-looking statements except as
required by law.

SOURCE Sinclair Broadcast Group, Inc.

Website: http://www.sbgi.net
Contact: David Amy, EVP & CFO, Sinclair, or Lucy Rutishauser, VP & Treasurer,
Sinclair, +1-410-568-1500
 
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