Sinclair to Refinance its Existing Bank Credit Facility to Raise Additional Term Loan and Revolving Commitments

 Sinclair to Refinance its Existing Bank Credit Facility to Raise Additional
                     Term Loan and Revolving Commitments

PR Newswire

BALTIMORE, March 18, 2013

BALTIMORE, March 18, 2013 /PRNewswire/ --Sinclair Broadcast Group, Inc.
("Sinclair" or the "Company") (Nasdaq: SBGI) announced today that its
wholly-owned subsidiary, Sinclair Television Group, Inc. ("STG"), intends to
refinanceits existing bank credit facility via an amendment and restatement
to raise new term loan and revolving commitments and to introduce increased
operating flexibility into the new bank credit facilities.

(Logo: )

Sinclair is seeking $900.0 million of new term loans, which is expected to
consist of $500.0 million in new term A loans maturing April 2018 and $400.0
million in new term B loans maturing April 2020. In addition, Sinclair will
seek to obtain a new $100.0 million revolving line of credit maturing April
2018. The new term loans, cash on hand and/or a draw under the new revolving
line of credit, are expected to be used refinance amounts outstanding under
the existing bank credit facility and to fund the previously announced
acquisitions of the Barrington Broadcasting Group and certain of the Cox Media
Group television stations, which acquisitions are expected to close in the
second quarter of 2013. Due to timing related to the closing and funding of
the acquisitions, approximately $445.0 million of the new term loan
commitments are expected to be drawn on a delayed basis. In connection with
this refinancing, Sinclair will seek to introduce additional operating
flexibility into the new bank credit facilities, including, increased
incremental loan capacity, increased television station acquisition capacity
and increased flexibility under the negative covenants.

Sinclair Broadcast Group, Inc., one of the largest and most diversified
television broadcasting companies, currently owns and operates, programs or
provides sales services to 112 television stations in 61 markets, after
pending transactions. Sinclair's television group reaches approximately 30%
of U.S. television households and includes FOX, ABC, CBS, NBC, MNT, CW and an
Azetca affiliate. The Company regularly uses its website as a key source of
Company information and can be accessed at

Forward-Looking Statements:

The matters discussed in this press release include forward-looking statements
regarding, among other things, future operating results. When used, the words
"outlook," "intends to," believes," "anticipates," "expects," "achieves," and
similar expressions are intended to identify forward-looking statements and
information. Such forward-looking information is subject to a number of risks
and uncertainties. Actual results in the future could differ materially and
adversely from those set forth in the forward-looking information as a result
of various important factors, including and in addition to the assumptions set
forth therein, but not limited to, STG's ability to consummate the proposed
refinancings, obtain the necessary approvals to close on pending acquisitions,
the impact of changes in national and regional economies, the volatility in
the U.S. and global economies and financial credit markets which impact our
ability to forecast or refinance our indebtedness as its comes due, 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 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 risk factors set forth
in the Company's recent reports on Form 8-K, Form 10-Q and/or Form 10-K, as
filed with the Securities and Exchange Commission. There can be no assurance
that the assumptions and other factors referred to will occur. The Company
undertakes no obligation to update such forward-looking information in the
future except as required by law.

SOURCE Sinclair Broadcast Group, Inc.

Contact: David Amy, EVP & CFO, Lucy Rutishauser, VP Corporate Finance &
Treasurer, +1-410-568-1500
Press spacebar to pause and continue. Press esc to stop.