Deals
Sinclair to Acquire Allbritton TV Stations for $985 Million
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Sinclair Broadcast Group Inc., continuing its acquisition spree, agreed to buy TV stations owned by the Allbritton family for $985 million, gaining ABC affiliates and a 24-hour news network serving Washington, D.C.
The transaction is expected to close in the fourth quarter, assuming it passes regulatory hurdles, Hunt Valley, Maryland-based Sinclair said today in a statement. Under the terms of the deal, the company is acquiring the stock of Perpetual Corp. and the equity interest of Charleston Television LLC, which are both owned by the Allbritton family.